Shrugging off impeachment | Trade deal ‘sooner than you think’? | CEO exodus

Stocks rebounded Wednesday as traders' focus jumped from an impeachment inquiry into president Trump, to trade war optimism.

VIEW IN BROWSER | SUBSCRIBE WED, SEP 25, 2019 EVENING BRIEF AS OF WED, SEP 25, 2019 • 04:00 ET DJIA 26971.02 +0.61% +163.25 S&P 500 2984.91 +0.62% +18.31 NASDAQ 8077.38 +1.05% +83.76   Most Active DOW NAME LAST CHG %CHG NKE 90.79 +3.61 +4.14% AAPL 221.03 +3.35 +1.54% MSFT 139.36 +1.98 +1.44% S&P 500 NAME LAST CHG %CHG AMD 29.54 +0.02 +0.07% BAC 29.27 +0.33 +1.14% GE 9.16 +0.19 +2.12% NASDAQ NAME LAST CHG %CHG AMD 29.54 +0.02 +0.07% MU 49.47 +0.96 +1.98% AAPL 221.03 +3.35 +1.54% EDITOR'S NOTE Stocks rebounded Wednesday as traders' focus turned from pessimism over a possible impeachment, to optimism on the trade war.    House Speaker Nancy Pelosi announced the formal impeachment inquiry on Tuesday evening after accusations that President Donald Trump tried to coerce the head of Ukraine to investigate the family of former Vice President Joe Biden. Other Democrats have long called for an impeachment inquiry over Trump's alleged abuses of power.    But Wall Street investment banks are telling clients not to worry about what that all means for Trump's presidency. Several firms assured their clients that it's unlikely a Republican Senate would ever convict the president, CNBC's Tom Franck writes.    What they should pay attention to, according to Washington policy analysts, is the effect on trade deals. Pelosi's step toward a possible impeachment could disrupt a potential agreement with China and an already agreed-upon deal with Canada and Mexico. Analysts also said investors can forget about any new legislation like a drug prescription policy. For now, "legislating is dead," according to Raymond James policy analysts Ed Mills and Chris Meekins. Impeachment will lead to "Congress doing nothing except that which it must do by established deadlines (like funding the government)," the two wrote in a note to clients.    Stocks rallied on hopes of a trade deal after Trump told reporters at the United Nations in New York that a U.S.-China agreement could come sooner "than you think." The comments sent the Dow into positive territory.    The remarks weren't enough to convince some high-profile investors who are skeptical that the president's words (and tweets) on trade have teeth. Short seller Jim Chanos said the jump in U.S. stocks was a gullible response to Trump's hinting of a resolution to the trade dispute. As Chanos said in a tweet, "...3...2...1...The stock market falls for the 'China Trade Deal' line again."    Enjoying the CNBC Evening Brief newsletter? Tell us how we're doing and what we can do better by filling out this simple survey. Kate Rooney | CNBC Markets Reporter @Kr00ney TOP NEWS  Dow jumps after Trump says a China deal could come soon, Ukraine call memo released Trump asked Ukraine president in phone call 'if you can look into' Biden and his son Investors are betting on a Clinton-like market rally if House impeaches Trump Trump casts doubt on USMCA, says Pelosi may not have time to sign it Trump says US and Japan have reached an initial trade agreement Here's everything Amazon just announced CEOs are exiting at a record pace with WeWork, Juul and eBay bosses out in just the last 24 hours James Bullard says the Fed still has a 'little more to go' with rate cuts Disney names new leadership for Disneyland and Walt Disney World Why Trump asked Ukraine's president to look into CrowdStrike, a U.S. cybersecurity company that recently went public     TOP VIDEO Altria CEO: Juul still working through challenges we knew they'd have   SPECIAL REPORTS Trader sees Costco headed to new highs on earnings Stick with this sector ahead of earnings season, says experienced options trader   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS