Dow Jones Closes Lower on US President Donald Trump Impeachment

The Dow Jones stock index pared some of its gains in yesterday’s trading amid news of US President Trump’s impeachment. The US’ blue-chip stock index closed 27.9 points or 0.10% lower at 28,239.3.

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Gainers and Losers

Gains were led by Boeing with 1.13% as the stock pared some of its losses following reports that the company would reduce production of Boeing 737’s in January. In second was Nike with a 0.92% gain. UnitedHealth came in third with a 0.84% profit.

On the other hand, Wal-mart lost the most with -1.17%, followed by Proctor & Gamble at -1.04%. Disney was the third biggest loser at -1.00%.

Trump Impeachment Case to Move to Senate

Last night, the US Congress voted for US President Donald Trump’s. His impeachment case was based on abuse of power and obstruction of investigation. The next step will be for the articles of impeachment to be move to Senate where a trial will be conducted. It’s worth noting that unlikely for Trump to get impeached in the Republican-dominated Senate which could be the reason why the reaction on the Dow Jones has been muted.

Read our Best Trading Ideas for 2020.

Dow Jones Outlook

The Dow Jones looks to have pulled back some of its gains. On the 4-hour chart of Dow Jones CFDs, the stock index looks to be testing support at the rising trend line (from connecting the rising lows of December 3, December 11, and December 12). Watch out for a close below today’s low at 28,236.6. A bearish candlestick around this area could mean that the Dow Jones may soon trade to 28,000.0 where the 100 SMA is.

On the other hand, bullish reversal candlesticks around the trend line could mean that the stock index may soon rally to new highs above 28,330.0.

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