Positive Response: US stocks close up as Trump takes office

NEW YORK: Wall Street stocks finished higher Friday as Donald Trump was sworn in as the 45th president of the United States. 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% to close at 19,827.25. The broad-based S&P 500 gained 0.3% to 2,271.32, as the tech-rich Nasdaq Composite Index also rose 0.3% to end at 5,555.33. In his address on Friday, Trump promised to build infrastructure and boost employment. Analysts said the market is in a wait-and-see mode until Trump follows up on key promises.

Published in The Express Tribune, January 22^nd, 2017.

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