US President-elect Donald Trump arrives for the service at St. John's Church on the day of his inauguration for his second presidential term in Washington, United States, January 20, 2025.
Jenna Moon | Reuters
US stock market futures rose amid the inauguration of Donald Trump, as investors bet that a series of immediate actions by the incoming president would boost the economy, especially in areas such as the banking and energy sectors.
Traders were also likely encouraged by a report that Trump would not immediately install new tariffs on day one.
Average Dow Jones Industrial Average futures He won 162 points or 0.4%. Standard & Poor's 500 futures He added 0.4%. Nasdaq-100 futures It rose by 0.4%.
Regular trading on the New York Stock Exchange and Nasdaq was closed for the Martin Luther King Day holiday, but there was limited futures trading.
Bitcoin jump to a new record high above $109,000 on Monday.
“I've been doing this for 49 years, and we're probably going from a more anti-business administration to the opposite,” Stanley Druckenmiller, chairman and CEO of the Duquesne Family Office, said in an interview during CNBC's opening special coverage. “CEOs are somewhere between relieved and giddy…We believe in the animal spirit.”
A series of executive measures will be revealed on Monday for investors to assess their impact on the economy. The Wall Street Journal I mentioned The trade memorandum that Trump will issue will not impose tariffs yet. The memo will call for investigations in China, Canada and Mexico into unfair trade practices and currency policies.
Elsewhere, the president-elect will declare a national energy emergency, According to a new White House officialThis is with the aim of reducing high costs. It would expand the president's legal options to allow drilling in Alaska and other areas.
Other executive actions to be issued on Monday will likely address business deregulation and immigration restrictions.
Druckenmiller, considered one of the best hedge fund managers of all time, was somewhat cautious about the overall market due to rising interest rates.
Trump will be sworn in at noon Eastern time on Monday.
