Stocks Rising as Donald Trump Inherits the White House

New York (Jan 21)  Stocks pared gains, though held higher, on Friday after Donald Trump was sworn in as the 45th president of the United States.

The S&P 500 was up 0.2%, the Dow Jones Industrial Average rose 0.3%, and the Nasdaq rose 0.2%.

In his speech following his swearing-in, Trump pledged to rebuild America, offering a rare conciliatory tone that was absent throughout the election campaign. Trump also said that Friday would mark the resurgence of the forgotten people.

""We are not merely transferring power from one administration to another or from one party to another, but we are transferring power from Washington, D.C., and giving it back to you, the people," said Trump. "The forgotten men and women of our country will be forgotten no longer. Everyone is listening to you now."

Stocks have been shaky for days as investors wrestled with what changes an incoming Trump administration could implement and how quickly. During confirmation hearings, Trump's cabinet member picks have frequently disagreed on some of Trump's core campaign promises, including a ban on Muslim immigration and foreign relations with Russia.

The Dow has had a rough time in recent days, closing out Thursday with its fifth straight session lower. The S&P 500 and Nasdaq have fallen in two of the past four sessions.

Markets had initially rallied in the two months following Trump's unexpected win in November. Investors had placed big bets that a Trump administration would lead to higher infrastructure spending and looser financial regulations. The Dow, in particular, had surged to new heights on Trump's proposals, even coming within a hair of its 20,000 milestone.

Source: TheStreet