Investing.com investing.com 07 Jan, 2021 20:15 am

Dow Rides Stimulus Optimism Higher; Lawmakers Call for Trump Removal By Investing.com

Dow Rides Stimulus Optimism Higher; Lawmakers Call for Trump Removal By Investing.com
Dow Rides Stimulus Optimism Higher; Lawmakers Call for Trump Removal

com – The Dow rose Thursday, as expectations that Democrats will target further fiscal relief overshadowed rising political tensions as pressure mounts on lawmakers to remove President Donald Trump from office in the wake of Wednesday's riot on Capitol Hill.Senate Democratic leader Chuck Schumer on Thursday called on Vice President Mike Pence to remove Trump from office by invoking the 25th Amendment to the U."If the Vice President and the Cabinet refuse to stand up, Congress should reconvene to impeach the president," Schumer added.On the economic front, there are signs that the stimulus - agreed last month - is already having the desired impact, particularly in the labor market as the stimulus checks supported laid-off workers.

The positive labor market data comes a day ahead of the nonfarm payrolls report for December, with Wall Street estimating that 71,000 new jobs were created during the month.Tech led the record-setting day on Wall Street as big tech clawed back losses from a day earlier, while a rally in chip stocks also supported sentiment on risk.

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