(CNBC) U.S. stocks closed higher on Thursday, recovering from their worst day of 2017, as investors assessed President Donald Trump’s chances of moving forward with his pro-growth agenda.
The Dow Jones industrial average gained around 55 points after a lower open, with UnitedHealth contributing the most gains. Cisco Systems, though, fell 7.2 percent after the company issued weak guidance.
The S&P 500 rose about 0.4 percent, with telecommunications advancing 1.2 percent to lead advancers. The Nasdaq composite outperformed, gaining 0.7 percent.
“What happened yesterday was interesting. You had a complete removal of any Trump premium,” said Randy Warren, chief investment officer at Warren Financial. “What’s happening now is the fundamentals are taking over.”