a second time as U.S. president as investors bet a series of immediate actions by him would boost the economy, especially in areas like the banking and energy sectors.
Traders were also likely encouraged by news that Trump wouldn’t immediately install new tariffs on day one.
Dow Jones Industrial average futures gained 167 points, or 0.4%. S&P 500 futures added 0.4%. Nasdaq-100 futures rose 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.
during ‘s special inauguration coverage. “CEOs are somewhere between relieved and giddy…we are a believer in animal spirits.”
impose tariffs yet. The memo will ask for investigations of China, Canada and Mexico for unfair trade practices and currency policies.
Trump said during his inaugural address that he would overhaul the trade system so “instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens.”
, with the goal of lowering high costs. It will expand the president’s legal options for allowing drilling in Alaska and other areas.
Other executive actions to come Monday are likely to address business deregulation and immigration restrictions.
Druckenmiller, considered one of the best ever hedge fund managers, did have some caution on the overall market because of rising interest rates.
to a new record above $109,000 on Monday before rolling over and trading lower.
