Investors Hope Trump Fears Ease, Drive Stocks Higher



U.S. equities kicked off Friday's session higher as traders hoped that concerns around Donald Trump's presidency may have been exaggerated.

The Dow Jones Industrials Average strengthened 78.28 points to 20,741.30, with Caterpillar contributing the most gains.

The S&P 500 vaulted 12.95 points to 2,378.67, with information technology leading advancers.

The NASDAQ marched ahead 36.71 points to 6,091.84.

Trump made his first trip overseas since taking office on Friday, first traveling to Saudi Arabi, which is planning to buy billions of dollars worth of U.S. arms.

In economic news, there were no major data released Friday. However, St. Louis Federal Reserve President James Bullard said the central bank's plans to raise rates may be too fast.

Prices for the benchmark 10-year Treasury note were slightly lower, raising yields to 2.25% from Thursday’s 2.23%. Treasury prices and yields move in opposite directions.

Oil prices gained 82 cents at $50.17 U.S. a barrel

Gold prices gained back 60 cents at $1,253.40 U.S. an ounce.