Stocks Brush Off Trump's Impeachment Hearing | Democrats Propose Round Three Of COVID-Related Stimulus Checks

Plus: Trump Reportedly Shocked, Enraged By Bruce Castor’s Performance

TOPLINE

The major stock market indexes are at record highs again as investors look past the expected acquittal of former President Donald Trump and focus on corporate earnings that keep shattering expectations and another massive fiscal stimulus package expected to pass before mid-March.

KEY FACTS

Shortly after the market open, the Dow Jones industrial average and S&P 500 jumped 150 points, or 0.5%, and 0.6%, respectively–both ticking up past their record Monday closes after slipping slightly on Tuesday; the tech-heavy Nasdaq, which closed at a high Tuesday, also ticked up 0.5%.

Shares of Twitter are surging 9% and hitting a new high after the firm–heavily scrutinized for banning Trump from the platform–shattered Wall Street expectations with earnings of 38 cents per share on roughly $1.3 billion in revenue last quarter; the firm reported 192 million daily active users, roughly 70% more than a year ago.

Other stocks outperforming the market after reporting better-than-expected earnings since Tuesday's close include ride-sharing firm Lyft, which is surging 11%, apparel-maker Under Armour, up 8%, and health-information firm Iqvia, up nearly 5%.

The U.S. consumer price index, a key measure of inflation, rose 0.3% in January, according to the Bureau of Labor Statistics on Wednesday, falling in line with expectations and therefore likely to temporarily ease concerns that rapid price spikes could threaten the economic recovery.

Global markets were also climbing Wednesday, with Japan's Nikkei 225 closing up 0.2%, while England's FTSe 100 climbs 0.3%, and Germany's DAX index ticks up 0.1%.

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