U.S. President-elect Donald Trump and Melania Trump watch a meeting with President Joe Biden and First Lady Jill Biden on the day of Donald Trump's second presidential inauguration in Washington, U.S., January 20, 2025. Mrs.
Carlos Barria | Reuters
U.S. stock market futures rose during President Donald Trump's inauguration as investors bet that a series of immediate actions by the president-elect would boost the economy, particularly in areas such as banking and the energy sector.
Traders also appeared encouraged by news that President Trump would not immediately impose new tariffs on the first day.
Dow Jones Industrial Average Futures Increased by 122 points (0.3%). S&P500 futures Added 0.3%. 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 futures trading was limited.
Bitcoin soared to a new record above $109,000 on Monday.
“I've been doing this for 49 years, and I'm probably the most anti-corporate person in the world,” Stanley Druckenmiller, chairman and CEO of the Duquesne Family Office, said in an interview during CNBC's inaugural coverage. “We are transitioning from one government to the other,” he said. “The CEO feels somewhere between relieved and giddy…We believe in animal spirits.”
A series of administrative measures will be announced on Monday for investors to assess the economic impact. No tariffs are expected to be imposed yet in the trade memorandum from the new administration. The memo calls for investigations into unfair trade practices and exchange rate policies against China, Canada and Mexico.
The next president plans to declare a national energy emergency in an effort to cut high costs, according to an incoming White House official. This would expand the president's legal options to allow drilling in Alaska and other areas.
Other executive actions scheduled for Monday are likely to address business deregulation and immigration restrictions.
Druckenmiller is considered one of the greatest hedge fund managers of all time, but he expressed some caution about the broader market due to rising interest rates.
Trump is scheduled to be sworn in at noon ET on Monday.
