U.S. stocks open higher ahead of Trump's inauguration

U.S. stocks opened higher Friday as Wall Street eyed the inauguration of President-elect Donald Trump, which will begin later in the morning.

Trump will deliver his inauguration speech later Friday and investors will be keenly anticipating what he will say as he speaks to the nation as president for the first time.

U.S. stocks posted solid gains after Trump won the presidency election as investors bet that he would pursue massive corporate tax cuts, deregulation, and infrastructure spending.

In corporate news, shares of the Procter & Gamble Co. jumped over 2 percent in the early trading after the company reported better-than-expected quarterly results.

Shares of American Express Co. fell about 1 percent after the U.S. bank posted quarterly earnings shy of forecasts but revenues above estimates.

Shortly after the opening bell, the Dow Jones Industrial Average rose 96.83 points, or 0.49 percent, to 19,829.23. The S&P 500 added 11.89 points, or 0.53 percent, to 2,275.58. The Nasdaq Composite Index increased 30.16 points, or 0.54 percent, to 5,570.24.

On Thursday, U.S. stocks reversed early gains to end lower, as investors digested a batch of economic data as well as the European Central Bank's decision to keep its interest rates unchanged. Endi