Stocks – Wall Street Climbs Overall, but Gains are Muted

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Investing.com – Stocks moved slightly higher for a sixth-straight day perhaps because of the uncertainty caused by the House vote on impeaching President Donald Trump.

The , , and indexes hit intraday highs.The Nasdaq and Nasdaq 100 Indexes rose about 0.2% each. The Russell rose 0.3%. The trio finished with their sixth straight gains, all records, with the Nasdaq and Nasdaq 100 Indexes rising less than 0.1% each. The Russell rose 0.3%.

But the S&P 500 and saw their early gains fade and closed with small losses after five straight gains.

The finished off 0.1% and was propped up largely thanks to a bounce-back rally in shares of Boeing (NYSE:).

Boeing (NYSE:) added 1.1% on the day, which contributed about 25 points to the blue-chip index. The company announced late Monday it was suspending production of its troubled 737 Max airliner until it is recertified by regulators.

Traders and investors were paying attention to the impeachment debate and that may have injected a note of uncertainty into the market. Perhaps as important, the market’s momentum has slowed in the last week as the major indexes repeatedly hit new highs.

Weighing on the S&P 500 was FedEx (NYSE:), which fell nearly 10% after earnings disappointed and the package-shipping company cut its guidance for 2020.

At the same time, Netflix (NASDAQ:) shares were nearly 2% higher after Bank of America Merrill Lynch (NYSE:) rated the stock a buy. Analysts said Netflix subscribers aren’t cancelling in order to sign on with other streaming services such as Walt Disney’s (NYSE:) Disney+.

Better, the shares have recovered all of their 22% decline between the end of July and mid-September because of worries the company couldn’t compete against streaming services from Disney , Apple (NASDAQ:) and others.

Interest rates moved modestly higher. Gold and oil prices were basically flat.

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