On the day of Trump's inauguration, Dow futures experience a 150-point increase despite regular trading being halted.
The U.S. stock market futures increased during the inauguration of Donald Trump, as investors predicted that the incoming president's immediate actions would positively impact the economy, particularly in the banking and energy sectors.
A report suggesting that Trump wouldn't impose new tariffs on day one may have motivated traders.
Increased by 0.4%, gained 162 points.
The New York Stock Exchange and Nasdaq were closed for the Martin Luther King Day holiday, while there was some futures trading.
Bitcoin jumped to a new record above $109,000 on Monday.
"Stanley Druckenmiller, chairman and CEO of the Duquesne Family Office, stated in an interview during CNBC's special inauguration coverage that he has been doing something for 49 years and that they are likely moving from the most anti-business administration to the opposite. He added that CEOs are experiencing a mix of relief and excitement, and that they are believers in animal spirits."
On Monday, a flurry of executive actions will be unveiled for investors to assess their impact on the economy, as reported by the Wall Street Journal. Trump's trade memorandum will not impose tariffs yet, but will instead request investigations into China, Canada, and Mexico for unfair trade practices and currency policies.
An incoming White House official has stated that the President-elect will declare a national energy emergency, with the aim of reducing high costs. This will increase the president's legal authority to permit drilling in Alaska and other regions.
It is possible that other executive actions to be announced on Monday will focus on easing business regulations and tightening immigration policies.
Rising interest rates caused some caution in the market, as Druckenmiller, one of the best hedge fund managers, pointed out.
Trump will be sworn in at noon ET Monday.
Markets
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