US stocks rose amid gains across sectors on Friday as Donald Trump gets set to become the 45th president of the United States. Trump will be sworn in by US Supreme Court Chief Justice John Roberts in Washington. Investors will focus on Trump's inaugural speech to get more insight into his economic policies.
"There is a lot of optimism and renewed hope for better things to come," said Sean O'Hara, president of Pacer ETFs.
"People view soon-to-be President Trump as a person who understands the way businesses work."
Trump's campaign promises of tax and regulatory reforms and higher infrastructure spending had driven Wall Street to multiple highs post-election. However, the Trump trade had been unravelling in recent weeks as investors wait to see how he will carry out his ambitious plans.
The S&P 500 has fallen by a median 2.7 percent in the month after each new president has taken the keys to the White House since Herbert Hoover did so in January 1929, according to a Reuters analysis.
The dollar index slipped into negative territory, while a 2 percent rise in oil prices pushed up energy stocks.
At 10:55 am ET (1555 GMT), the Dow Jones Industrial Average was up 92.05 points, or 0.47 percent, at 19,824.45, and was on track to snap a five-day losing streak. The S&P 500 was up 10.04 points, or 0.44 percent, at 2,273.73 and the Nasdaq Composite was up 19.25 points, or 0.35 percent, at 5,559.33. Ten of the 11 major S&P indexes were higher, with technology giving the biggest bump to the broader index. Industrials, which have risen for the past two days, were down 0.2 percent.
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