Stocks Drifted Higher after House Voted to Impeach Trump

U.S. stocks drifted higher in the early trading on Thursday as financial markets largely shrugged off the U.S. House of Representatives’ votes to impeach President Donald Trump.The Dow Jones Industrial Average lately rose 57.57 points, or 0.20%, to 28,296.85. The S&P 500 gained 5.33 points, or 0.17%, to 3,196.47. The Nasdaq Composite added 17.71 points, or 0.20%, to 8,845.45.

Oil futures traded near unchanged Thursday, a day after data showed a drop in U.S. crude inventories. West Texas Intermediate crude for January delivery rose 5 cents, or 0.1%, to $60.98 a barrel. February Brent crude was up 5 cents, or less than 0.1%, at $66.22 a barrel.

The House voted nearly on party lines to impeach Trump for abuse of power and obstruction of Congress. The proceedings have so far done little to rattle financial markets or consumer confidence.

The number of Americans filing applications for unemployment benefits dropped from more than a two-year high last week, pointing to sustained labor market strength. Initial claims for state unemployment benefits decreased 18,000 to a seasonally adjusted 234,000 for the week ended Dec. 14, the Labor Department said.