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  • iStock/Thinkstock(NEW YORK) -- U.S. stocks closed higher on Inauguration Day, but the Dow and the S&P posted weekly declines.The Dow jumped 94.85 (+0.48 percent) to finish at 19,827.25.The Nasdaq gained 15.25 (+0.28 percent) to close at 5,555.33, while the S&P 500 finished at 2,271.31, up 7.62 (+0.34 percent) from its open.Crude oil prices were at $53 a barrel, up 2 percent.Winners and Losers: Shares in Rite-Aid Corp tumbled 16 percent after a report from Bloomberg said the Federal Trade Commission was not satisfied with the proposed offer to merge with Walgreens, and the deadline for the deal is just a week away.Skyworks Solutions Inc.'s quarterly report beat investors' expectations and shares surged 13 percent. The semiconductor company is Apple Inc.'s chip supplier.Fourth-quarter revenue of General Electric fell short of analysts' estimates, causing the stock to plummet 2 percent.
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  • ABC News(WASHINGTON) -- In his Inaugural Address Friday, President Donald Trump harshly criticized the Washington establishment.“The establishment protected itself but not the citizens of the country,” he said.But just 15 hours earlier, at an exclusive black-tie dinner, Trump saluted the corporate bosses and wealthy elite who had contributed close to $100 million for his inaugural committee.“I want to thank all our donors,” he said to the donors whose names, under the law, can be kept secret for at least three months.Each donor left the dinner with the President-elect carrying a large Tiffany blue gift bag.The biggest donors were seated near the Trump family and members of Congress during the Inaugural swearing-in.Later, many of them were at the Trump hotel bar where waiters used sabers to cut off the top of expensive bottles of champagne.The $100 million raised by the Trump Inaugural committee is almost twice as much as was raised by President Obama’s team for is first inauguration in 2009.The former chairman of the Obama Inaugural committee, Steve Kerrigan, said he could not understand why the Trump people appear to have raised far more than was needed for what was described as a scaled-down, “workmanlike” inaugural with far fewer balls and events than the Obama inauguration.“The $100 million is far too much,” said Kerrigan. “They need maybe $30 million so the additional $70 million or whatever it’s going to be, I question where that’s going to go, what they’re going to do with it.”Trump Inaugural committee officials say any money left over will be donated to charity.
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  • Bill Pugliano/Getty Images(NEW YORK) -- Plans announced Tuesday by automotive giant General Motors to add or keep 7,000 American jobs and invest $1 billion in United States manufacturing -- later touted by President-elect Donald Trump on Twitter as part of a "big jobs push back into the U.S." -- were actually "years in the making," according to the company.In a statement, GM said the investments will "cover multiple new vehicle, advanced technology and component projects," culminating in 1,500 of the jobs, a combination of new and existing positions. The Detroit-based manufacturer said it also intends to shift some production work from Mexico back to the U.S.The timing of the announcement raised suggestions that claims by Trump contributed to the company's actions. Throughout his presidential campaign and ensuing transition, Trump made the collapse of American manufacturing and outsourcing of jobs -- particularly to Mexico and China -- a focal point of his platform and his administration's plans.
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  • iStock/Thinkstock(NEW YORK) -- Investors appear to be uneasy ahead of the inauguration of President-elect Donald Trump as stocks closed lower after the holiday weekend.The Dow slid 58.96 (-0.30 percent) to finish at 19,826.77.The Nasdaq gave up 35.39 (-0.63 percent) to close at 5,538.73, while the S&P 500 finished at 2,267.89, down 6.75 (-0.30 percent) from its open.Crude oil prices, about $52.5 a barrel, gained under 1 percent.Donald Trump: In an interview with the Wall Street Journal, Trump said the U.S. dollar is "too strong," causing the dollar to slide about 1 percent Tuesday. The president-elect told WSJ that because China was keeping its yuan weaker, "companies can't compete with [China] now because our currency is too strong. And it's killing us."Winners and Losers: Wal-Mart Stores Inc soared 2 percent after announcing it would create about 10,000 jobs in the U.S.Shares for Tiffany & Co. tumbled about 2.5 percent on news of lower sales, including a 14 percent decline at its flagship store on Fifth Avenue in New York, near Trump Tower. The luxury jeweler retailer attributed the loss "at least partly to post-election traffic disruptions."
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  • Donald Bowers/WireImage for Luxottica via Getty Images(LONDON) -- Italian eyewear giant Luxottica Group, which owns Ray-Ban, and French lens-maker Essilor have agreed to a massive merger.
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