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."
U.S. equities suffered their worst day of the year Wednesday, with the Dow dropping 372 points, on the back of news that Comey put together a memo outlining a conversation in which Trump allegedly asked him to halt an investigation into former National Security adviser Michael Flynn.
"I think we just saw the market taking stock of itself," said Arian Vojdani, investment strategist at MV Financial. "If the administration can keep a low profile, then investors who sell on headlines will calm down."
Since the election, the S&P has gained about 10 percent with information technology and financials leading the way. But financials suffered their worst session since June 24 on Wednesday, falling 3 percent.