The beginning of a new presidency did little to boost U.S. markets on Friday. Stocks came off of highs shortly after Donald Trump was sworn into office around midday. Gains were roughly half what they had been earlier in the session. Crude oil prices held higher even after a weekly reading on drilling activity in the U.S. showed a sharp increase. The number of active U.S. rigs drilling for oil rose by 29 in the past week. Schlumberger (SLB) reported another quarterly loss, though offered a more upbeat outlook. The oil-field services company expects energy prices and productive to rise in 2017, recovering after a two-year slump in the industry. TransDigm (TDG) fell after Citron Research called the company "the Valeant of the aerospace industry." The research firm criticized TransDigm for what it says are egregious price increases for government clients.
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