Trump impeached
U.S. stocks are poised to start Thursday’s session on a positive note, hours after the Democrat-controlled House voted to impeach President Donald Trump for abuse of power over his phone call with Ukrainian President Volodymyr Zelensky and obstruction of Congress.
Trump is expected to face a trial in the Senate early next year, where senators will hear witnesses, consider evidence, and vote to convict or acquit. It is highly unlikely he will be removed from office because the Republican Party controls the Senate.
As of 5:05 a.m. ET, the blue-chip Dow futures advanced 31.5 points, or 0.11% to 28,312.5. The S&P 500 futures were up 2.13 points, or 0.07% to 3,201.38 while the tech-heavy Nasdaq 100 futures rose 3.75 points, or 0.04% to 8,624.50.
China publishes second list of U.S. products to be exempted from new tariffs
Meanwhile, Reuters is reporting that China has unveiled another list of American imports that will be excluded from first wave of additional tariffs on U.S. products.
Chinese Ministry of Finance announced the tariff waivers on Thursday, saying they will apply to six items, most of them chemical products such as lubricants and plastics effective December 26 this year.
However, the ministry did not provide the value of the import products exempted from levies. The move comes just days after Beijing and Washington announced a preliminary trade agreement.
Match shares soar 5% after spinoff from IAC
IAC (NASDAQ: IAC) and the online dating company Match Group (NASDAQ: MTCH) said Thursday morning that they have agreed to separate in a tax-free transaction.
The transaction has been approved by the companies’ board of directors and is expected to close in the second quarter of next year.
“Match Group is well on its way to standing completely on its own with a bright future in a big global market, and we’re excited to turn our attention to building the next generation of great companies. This is the fun part,” IAC CEO Joey Levin said in a press release.
Match shares soared 5.28% to $75 apiece in premarket trade on the news.
