AFP, New York :
Wall Street stocks finished higher Friday as Donald Trump was sworn in as the 45th president of the United States and Barack Obama’s term ended.
US stocks were in positive territory virtually the entire day, but they retreated from session highs after Trump’s inauguration speech, which analysts called populist and protectionist.
“The market wasn’t wild about it, perhaps a bit of a negative tone taken rather than a positive tone,” said JJ Kinahan,chief market strategist at TD Ameritrade.
The Dow Jones Industrial Average rose 0.5 percent to close at 19,827.25.
The broad-based S&P 500 gained 0.3 percent to 2,271.32, as the tech-rich Nasdaq Composite Index also rose 0.3 percent to end at 5,555.33.
US stocks had enjoyed a torrid rally after Trump’s election win on November 8 in anticipation that he and the Republican-led Congress would cut taxes and enact other pro-growth measures, but markets lost steam in the past two weeks.
In his address on Friday, Trump promised to build infrastructure, such as bridges and roads, and boost employment, aspects of his agenda the market likes.
Wall Street stocks finished higher Friday as Donald Trump was sworn in as the 45th president of the United States and Barack Obama’s term ended.
US stocks were in positive territory virtually the entire day, but they retreated from session highs after Trump’s inauguration speech, which analysts called populist and protectionist.
“The market wasn’t wild about it, perhaps a bit of a negative tone taken rather than a positive tone,” said JJ Kinahan,chief market strategist at TD Ameritrade.
The Dow Jones Industrial Average rose 0.5 percent to close at 19,827.25.
The broad-based S&P 500 gained 0.3 percent to 2,271.32, as the tech-rich Nasdaq Composite Index also rose 0.3 percent to end at 5,555.33.
US stocks had enjoyed a torrid rally after Trump’s election win on November 8 in anticipation that he and the Republican-led Congress would cut taxes and enact other pro-growth measures, but markets lost steam in the past two weeks.
In his address on Friday, Trump promised to build infrastructure, such as bridges and roads, and boost employment, aspects of his agenda the market likes.
