Stocks moved broadly higher in early trading Friday ahead of the inauguration of President-elect Donald Trump. Phone company stocks led the gainers. Energy stocks also rose as oil prices headed higher. Investors also had their eye on the latest batch of company earnings and outlooks. The Dow Jones industrial average rose 93 points, or 0.5%, to 19,825 as of 7:07 a.m.
Banks were leading U.S. stocks higher Tuesday as the Federal Reserve was meeting to discuss interest rates and the economy. The central bank is expected to raise interest rates Wednesday; it would be the third time this year. Banks benefit from higher interest rates because they can charge more to lend money.
U.S. stock indexes veered slightly lower in early trading Thursday as investors sized up the latest batch of company earnings and deal news. Technology stocks were down the most. Consumer focused-companies also fell, while energy stocks declined as the price of crude oil headed lower. Insurers and other financial companies led the gainers. The Standard & Poor's 500 index slipped 7 points, or 0.3%, to 2,500 as of 7:18 a.m.
U.S. stocks edged higher in early trading Friday, recouping some of the ground they lost after the market's biggest single-day drop in nearly three months. Technology and healthcare stocks were among the big gainers. Utilities companies were down the most. Investors had their eye on company earnings and the latest developments in the ongoing tensions between North Korea and the United States. The Standard & Poor's 500 index rose 7 points, or 0.3%, to 2,445 as of 7:19 a.m.