U.S. President-elect Donald Trump and his wife Melania Trump watch as they meet with U.S. President Joe Biden and first lady Jill Biden on Inauguration Day for Donald Trump’s second presidential term in Washington, the United States, January 20, 2025 .
Carlos Barría | Reuters
U.S. stock market futures rose amid Donald Trump’s inauguration, with investors betting that a series of immediate actions from the new president would boost the economy, particularly in areas such as the banking sectors and energy.
Traders were also likely encouraged by the news that Trump would not immediately impose new tariffs on day one.
Dow Jones Industrial Average Futures gained 122 points, or 0.3%. S&P 500 Futures Contracts added 0.3%. Nasdaq-100 Futures Contracts increased by 0.4%.
Regular trading on the New York Stock Exchange and Nasdaq was closed for the Martin Luther King holiday, but futures trading was limited.
Bitcoin hit a new record high above $109,000 on Monday.
“I’ve been doing this for 49 years and we’re going from probably the most anti-business administration to the opposite,” Stanley Druckenmiller, chairman and CEO of the Duquesne Family Office, said in an interview during special coverage of inauguration of CNBC. “CEOs are somewhere between relieved and stunned…we believe in animal spirits.”
A series of executive measures will be unveiled on Monday so investors can assess their impact on the economy. An expected trade memorandum from the new administration will not yet impose tariffs. The memo will call for investigations into China, Canada and Mexico for unfair trade practices and monetary policies.
Elsewhere, the president-elect will declare a national energy emergency, according to a new White House official, in an effort to reduce high costs. This will expand the president’s legal options to authorize drilling in Alaska and other areas.
Other executive actions coming Monday will likely involve business deregulation and immigration restrictions.
Druckenmiller, considered one of the best hedge fund managers of all time, has been cautious about the overall market due to rising interest rates.
Trump will be sworn in Monday at noon ET.
