Faucet will not swivel

If your faucet is new....the spout was put together wrong and it needs to be removed and re-attached correctly...(friction washer/ring in wrong position).....if not new....spray some penetrating oil on the connection that is supposed to swivel....make sure the surface is dry and try to avoid overspray. let it sit for 15 min...then spray it again...and again let it sit ....after sitting for a few minutes.....gently try to move the spout side to side...if no change...repeat the first processs...and continue to repeat until it becomes moveable....once moveable....detach the spout.....dry out and remove any foreign matter from the connection side on the faucet...then apply a small amount of faucet grease to the connection threads and the inside barrel....a thin even coat ...excess grease will clog your aerator...don't use too much....now repeat the cleaning and lubricating process on the removed spout connector....reassemble.....remove aerator....turn on the water and flush....replace the aerator....turn water on full blast....check for leaks and for swing...it should swivel now ....if not...loosen the connection nut a tad and try again....if still no swing....you are missing a friction ring somewhere in the connection and it needs to be replaced before you will be able to swing the spout.....good luck...

Personally, I would carefully remove the cap that holds the spout in place, then the spout can be removed. Lube the O rings with Vaseline and reassemble.