Dow industrial rebounds after five straight days of losses

Stocks went higher in afternoon trading Friday to recoup the market’s losses from the day before and then some.

The rebound came as investors weighed Donald Trump’s swearing in as the 45th president of the United States and the latest batch of earnings news.

Phone companies led the gainers, while health care stocks were down.

The Dow Jones industrial average rose 94.85 points, or 0.5 percent, to 19,827.25. The Dow is coming off five straight losses.

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.

“This has been a relatively muted trading session we’ve seen today,” said Bill Northey, chief investment officer of the Private Client Group at U.S. Bank. “As we’ve gone through the first part of this year, it’s been people waiting for the event that occurred today with the inauguration.”

The major stock indexes pulled back slightly as Trump delivered remarks after taking the oath of office.

Stocks have slowed in 2017 after surging for several weeks following Election Day on investor optimism that a Trump administration and Republican Congress would usher in business-friendly policies.

But the possibility of increased tariffs or trade restrictions could also mean drops in profits for big U.S. companies.

Since 1953, starting with President Dwight D. Eisenhower’s inauguration, the S&P 500 has risen an average of 1.6 percent in the first 100 days of a president’s first term in office, said Sam Stovall, chief investment strategist at CFRA Research.

Skyworks Solutions jumped 13 percent after the semiconductor products maker reported betterthan-anticipated quarterly results. The stock was the biggest gainer in the S&P 500, adding $10.21 to $88.67.

Consumer goods maker Procter & Gamble rose 2.9 percent after releasing a strong growth forecast. The stock added $2.75 to $87.45.

Citizens Financial Group gained 2.6 percent after reporting fourth-quarter earnings and revenue that beat analysts’ expectations. The stock rose $1.09 to $35.82.

But General Electric slid 2.2 percent after the conglomerate reported fourth-quarter revenue that fell short of analysts’ forecasts. The stock gave up 68 cents to $30.53.

Bristol-Myers Squibb slumped 11.3 percent after the drugmaker said it won’t pursue accelerated regulatory approval for a lung cancer treatment. The stock was one of the biggest decliners in the S&P 500 index, shedding $6.26 to $49.23.

Benchmark U.S. crude oil rose $1.05 or 2 percent, to close at $52.42 a barrel in New York.

Bond prices were little changed. The yield on the 10-year Treasury note held at 2.47 percent.

Gold dropped 28 cents to $1,204.30.

RICHARD DREW/AP Stocks slowed after surging for several weeks after Election Day.