Advertisment
Stock futures advanced on Tuesday as Donald Trump’s second term as president began with a flurry of executive orders and comments on tariffs targeting goods coming from key trade partners.
Futures for the Dow Jones Industrials jumped 167 points, or 0.4%, to 43,862.
Futures for the S&P 500 Index improved 24 points, or 0.4%, to 6,057.50.
Futures for the tech-heavy NASDAQ galloped 110.25 points, or 0.5%, to 21,705.50.
U.S. stock markets were closed Monday for Martin Luther King Jr. Day.
Trump made tariff comments at the White House as he was signing executive orders. He said he was thinking of 25% tariffs on Mexico and Canada on Feb. 1 because of their border policies. Trump also mentioned China some during the discussion with the press, but did not specify any plans for tariffs. The president said maybe the U.S. could put tariffs on China if the country doesn’t approve a TikTok deal.
One positive note in the market’s view, Trump said he was not ready to impose universal tariffs yet.
In his inaugural address, the president labeled his return to the White House as the beginning of a period of growth and success for the country, while largely condemning the Biden Administration.
In Japan, the Nikkei 225 index moved up 0.3% Tuesday, while in Hong Kong, the Hang Seng index improved 0.9%.
Oil prices tumbled $1.89 to $75.99 U.S. a barrel.
Gold prices fell $6.50 to $2,742.20 U.S. an ounce.
