Wall Street Greets Donald Trump with a Positive Session
Investors responded positively to several executive orders signed by President Donald Trump on his first day in office, as well as better-than-expected quarterly earnings.
The three major Wall Street indexes posted gains in Tuesday’s trading session. Returning to action after a long weekend, U.S. investors greeted Donald Trump’s second presidential term with optimism.
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The Dow Jones Industrial Average, which tracks 30 corporate giants, rose 1.24% to close at 44,025.81 points. The broader SPX gained 0.88% to reach 6,049.24 points, while the tech-heavy Nasdaq Composite advanced 0.64% to 19,756.78 points.
Although the newly inaugurated president did not outline a concrete plan regarding his universal tariffs or additional levies on key trading partners, he hinted at potential tariffs on Canadian and Mexican products as early as February 1.
Meanwhile, investors reacted positively to some of the executive orders signed by Trump on his first day in office. The utilities sector saw a boost from nuclear energy stocks, driven by the administration’s measures aimed at increasing energy production.
Earnings Season Highlights
Within the Dow Jones, 3M stood out with a 4.16% gain after reporting better-than-expected quarterly results. On the downside, Apple led the declines with a 3.19% drop following a downgrade from Jefferies, amid falling sales in China.
Elsewhere in earnings reports, Netflix saw a 1.35% gain during regular trading and surged over 14.5% in after-hours trading. The streaming giant posted record-breaking numbers, fueled by its first live sports events and the return of Squid Game.
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