Robert Gehl writes that as James Comey was dishing dirt about his former boss, Wall Street reacted with a yawn.
In much-anticipated testimony, the former FBI Director told the Senate Intelligence Committee that President Trump never ordered him to drop any investigation, but merely mentioned how much he would like to see that happen.
Comey did say that Trump lied and “defamed” him and the bureau, which the media will no doubt latch on as salacious news.
Meanwhile, the stock market reaction seemed to be one of disinterest. The Dow Jones industrial average hit a new record, gaining more than 70 points, or 0.34 percent on Thursday, while the S&P500 added 5 points.
More than half of the S&P industry groups traded in positive territory, including financials, energy and technology, Fox Business reports.
The consumer discretionary sector, meanwhile, slipped as much as half a percentage point as shares of department-store retailers perked up after members of the Nordstrom family said they had created a special committee to explore the possibility of taking the company private. Shares of the retailer rallied more than 14% in recent action, helping boost the share prices of other traditional bricks-and-mortar names including Macy’s (M), Dillards (DDS), and Kohl’s (KSS).