U.S. President-elect Donald Trump and his wife Melania Trump watch as they meet with U.S. President Joe Biden and first lady Jill Biden on Inauguration Day for Donald Trump’s second presidential term in Washington, the United States, January 20, 2025 .
Carlos Barría | Reuters
U.S. stock futures rose on Donald Trump took an oath a second time as US president, with investors betting that a series of immediate actions from him would boost the economy, particularly in areas such as the banking and energy sectors.
Traders were also likely encouraged by the news that Trump would not immediately impose new tariffs on day one.
Dow Jones Industrial Average Futures gained 167 points, or 0.4%. S&P 500 Futures Contracts added 0.4%. Nasdaq-100 Futures Contracts increased by 0.4%.
Regular trading on the New York Stock Exchange and Nasdaq was closed for the Martin Luther King holiday, but futures trading was limited.
Dow Futures, 1 day
“I’ve been doing this for 49 years and we’re going from probably the most anti-business administration to the opposite,” Stanley Druckenmiller, chairman and CEO of the Duquesne Family Office, said in a statement. an interview during CNBC’s special inauguration coverage. “CEOs are somewhere between relieved and stunned…we believe in animal spirits.”
A series of executive measures will be unveiled on Monday so investors can assess their impact on the economy. A trade memorandum from the new administration expected will not be still impose tariffs. The memo will call for investigations into China, Canada and Mexico for unfair trade practices and monetary policies.
Trump said during his inaugural address that he would reform the trade system so that “instead of taxing our citizens to enrich other countries, we tax and tax foreign countries to enrich our citizens.”
Elsewhere, Trump was set to declare a national energy emergencyin order to reduce high costs. This will expand the president’s legal options to authorize drilling in Alaska and other areas.
Other executive actions coming Monday will likely involve business deregulation and immigration restrictions.
Druckenmiller, considered one of the best hedge fund managers of all time, has been cautious about the overall market due to rising interest rates.
Bitcoin sautéed to a new record high above $109,000 on Monday before turning around and trading lower.
