Stocks Flat as Wall St. Struggles for Direction

Stocks opened flat on Wednesday as the market struggled for direction for a second day amid rising rates, political uncertainty and a still raging pandemic.

The Dow Jones Industrials moved up 21.75 points to 31,090.44

The S&P 500 took on 4.04 points to 3,805.23

The NASDAQ acquired 38.73 points to 13,111.17.

Following Tuesday’s muted session, the major averages remain lower for the week. The NASDAQ is the relative underperformer, down roughly 1%.

The moves come as turmoil in Washington continues. Vice President Mike Pence said Tuesday night he will not remove President Donald Trump from office. That came before the Democratic-held House approved a resolution urging Pence and the Cabinet to push Trump out of the White House after he incited last week’s riot on the Capitol.

The House of Representatives plans to vote on Wednesday to impeach Trump for a second time.

Prices for the 10-Year Treasury gained back lost ground, lowering yields to 1.10% from Tuesday’s 1.14%. Treasury prices and yields move in opposite directions.

Oil prices unloaded 14 cents to $53.07 U.S. a barrel.

Gold prices, on the other hand, gained $15.30 to $1,859.50 U.S. an ounce.