U.S. stock-market benchmarks late-morning Wednesday were trading near session highs, with banks, consumer-staples, and discretionary stocks helping to power a rise.
Stocks briefly dipped when the White House released a summary of a phone call between President Donald Trump and the Ukrainian president in which Trump asks his Ukrainian counterpart to “look into” former vice-president Biden and his son Hunter who had business dealings in Ukraine, but the 25 minute call did not mention military aid to the country.
Markets have been weighing the geopolitical risk involved in U.S. House Speaker Nancy Pelosi’s announcement late Tuesday launching an impeachment inquiry into Trump’s actions.
The Dow Jones Industrial Average was up 152 points, or 0.55%, at 26,955, while the S&P 500 was up 8 points or 0.3% at 2,974. The Nasdaq Composite Index was up 21 points or 0.3% at 8,013.