Skip to content Skip to footer

S&P 500 maintains its highs as Trump impeachment trial begins – 9th February

The S&P 500 stayed close to the all-time highs set on Monday, despite the second impeachment trial of former President Donald Trump commencing today.

Senate members began the second impeachment trial of Trump, with many Republicans highly unlikely to press forward with a conviction for the ex-President.

If this remains the case, the vote of Democrats alone will not be enough to seal victory, as they would need the support of some 16 GOP Senators to convict.

Many believe Democrats want to secure a conviction to prevent Trump from being able to run in 2024, however some Republicans seeking the support of Trump may abstain from the vote.

The S&P 500 ended the day down 0.11%

Related: Get more of Surf’s Up S&P 500 Analysis Articles

U.S. Job openings on the rise, as Biden set to meet big business

Some positive economic news from the U.S., as data released by the U.S. Labor Department today, showed that job openings were on the rise at the end of 2020.

U.S Jobs on the rise as Biden is set to meet big business

The Job Openings and Labor Turnover Survey, which is also known as the JOLTS report, rose to 6.65 million in December from 6.572 million in the previous month.

News that job openings ultimately rose to 4.5% in December from 4.4% in November, comes as President Biden and Janet Yellen meet business leaders to discuss the stimulus package.

The meeting which is scheduled for later today will see the likes of JPMorgan’s Jamie Dimon, along with the CEO’s of Walmart, Gap as well as Tom Donohue of the U.S. Chamber of Commerce.

Biden/Yellen hope that the $1.9 trillion stimulus deal could help bring the U.S. workforce back to pre-pandemic levels.

GameStop stock falls below $50

In other news, GameStop’s share price fell by close to 20% on Tuesday as the now cult stock seems to have been deflated.

The stock of the company which rose by over 400% in mid-January, saw its price tumble by 80% last week, recording its worst weekly performance in history.

Many early entrants in the boom seem to have cashed out, with prices now edging closer to pre-WallStreetBets numbers.

As of writing $GME was trading at $48.58, a few weeks after hitting an all-time high of $483 a share.

Quote of the day – “Trading doesn’t just reveal your character, it also builds it if you stay in the game long enough.”

Yvan Byeajee

To stay up to date with the markets we encourage traders to view our Trade Gate Hub for more real time insights into Crude, Gold and many other markets.

Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 5th Floor Anderson Square, 64 Shedden Road, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.

TVM Global Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.

Tradeview Financial Markets S.A.C.

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.