NEW YORK: Wall Street stocks climbed early Tuesday to open the second Trump administration on positive footing as US Treasury bond yields retreated.
After his inaugural speech, Trump’s first day in office was punctuated by a raft of executive orders on immigration, energy policy and other issues.
The returning president also threatened 25 percent tariffs on Canada and Mexico as early as February 1, a statement that “took a little steam out of the equity futures trade, but (didn’t) steamroll that trade,” said Briefing.com analyst Patrick O’Hare.
About 15 minutes into trading, the Dow Jones Industrial Average was up 0.6 percent at 43,759.19.
Wall St set for weekly advances in countdown to Trump presidency
The broad-based S&P 500 advanced 0.4 percent to 6,022.35, while the tech-rich Nasdaq Composite Index added 0.1 percent at 19,639.92.
Tuesday’s gains came as US Treasury yields edged lower, a sign investors remain less perturbed by inflation worries following last week’s consumer price data.
However, analysts caution that tariffs and other policy actions favored by Trump could lift inflation anew.
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