Stocks Opened Higher ahead of Donald Trump’s Inauguration

U.S. stocks opened higher on Friday ahead of Donald Trump’s inauguration as the nation’s 45th president. The Dow Jones Industrial Average lately gained 79.00 points, or 0.40%, to 19,811.40. The S&P 500 was up 10.96 points, or 0.48%, to 2,274.65. The Nasdaq Composite added 29.22 points, or 0.53%, to 5,569.30.

Crude futures gained traction on Friday, driven by a weaker U.S. dollar and signs of the market tightening after major oil producers agreed to cut output. Light, sweet crude futures for delivery in February rose 61 cents, or 1.2%, to $52.73 a barrel. March Brent crude advanced 57 cents, or 1.1%, to $54.73 a barrel.

The Procter & Gamble Company’s second-quarter fiscal 2017 earnings and revenues exceeded expectations.P&G reported fiscal second-quarter adjusted earnings of $1.08 per share and net sales of $16.86 billion.

Ford Motor Co. (F) disclosed Friday that it will record a pre-tax $3 billion loss in 2016 related to remeasurement of its pensions plans and other postretirement benefit (OPEB) plans, as lower discount rates offset asset gains.

JPMorgan Chase directors paid Chief Executive Jamie Dimon $28 million in total compensation for 2016, a 4 percent bump from the prior year, the company said on Thursday.