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Stocks edge higher

By ALEX VEIGA

AP Business Writer

Materials companies led U.S. stocks modestly higher Friday, recouping much of the market’s loss from a day earlier and snapping a 5-day losing streak for the Dow Jones industrial average.

Another crop of encouraging company earnings news helped lift the market, but investors were mostly focused on events in Washington as Donald Trump was sworn in as the 45th president of the United States.

The major stock indexes pulled back slightly as Trump delivered remarks after taking the oath of office. Among topics of particular interest to Wall Street, the speech touched on trade and the Trump administration’s intention of protecting the U.S. from “the ravages of other countries making our products, stealing our companies, and destroying our jobs.”

“The market is still embracing the Trump agenda, based on the market’s reaction to the speech,” said Quincy Krosby, market strategist at Prudential Financial.

The Dow rose 94.85 points, or 0.5 percent, to 19,827.25. The Standard & Poor’s 500 index gained 7.62 points, or 0.3 percent, to 2,271.31. The Nasdaq composite index added 15.25 points, or 0.3 percent, to 5,555.33.

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