US Stocks Surge on First Day of Trump's Presidency
US stocks soared on Tuesday as investors responded to President Donald Trump's inaugural policy announcements. The Dow Jones Industrial Average (^DJI) jumped over 1.2%, closing above 44,000, while the S&P 500 (^GSPC) gained almost 0.9% and the Nasdaq Composite (^IXIC) rose about 0.6%.
Dow Surges, S&P 500 Nears Record as Trump Holds Off on Tariffs
Stocks gained on the first day of trading under Trump's presidency, buoyed by a sense of relief that he did not implement broad-based tariff measures. The Dow Jones Industrial Average (^DJI) surged more than 500 points, or 1.2%, while the S&P 500 (^GSPC) rose almost 0.9%. Tech giant Nvidia (NVDA) rose over 2% despite a volatile start to the session.
Netflix Earnings Soar, Subscriber Growth Surges
Netflix (NFLX) stock jumped over 14% in after-hours trading after the streaming giant reported 18.9 million new subscribers in the fourth quarter, surpassing expectations. The company also announced a $15 billion stock buyback and boosted its full-year revenue outlook.
Trump Considers Tariffs on Mexico, Canada
While Trump refrained from imposing sweeping tariffs, he indicated that Mexico and Canada could face 25% tariffs starting February 1st. This announcement sent oil prices lower and caused volatility in the markets.
Strong Earnings Season Boosts Stocks
Earnings season has been strong so far, with many companies beating analysts' estimates. The S&P 500 is now expected to post double-digit earnings growth this quarter, marking the best quarterly growth in over three years.
Bitcoin Hovers Above $105K Despite Absence of Pro-Crypto Orders
Bitcoin (BTC-USD) traded around $105,500 on Tuesday despite not receiving any specific mentions in Trump's policy announcements. However, industry leaders believe crypto-related executive orders may be forthcoming.
Tesla Stock Falls as Trump Ends Electric Vehicle Mandate
Tesla (TSLA) stock dropped over 4% after Trump revoked an executive order requiring half of new US cars manufactured by 2030 to be electric. Other EV stocks also declined on the news.
Oracle Jumps on New Trump AI Plan
Oracle (ORCL) stock surged as much as 6% after reports that the company will be part of a $500 billion investment in AI infrastructure in the US.