LIVE MARKETS-Wall Street kicks off Trump 2.0 with early gains
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WALL STREET KICKS OFF TRUMP 2.0 WITH EARLY GAINS
Wall Street's main indexes are higher early on Tuesday, as investors assess newly elected President Donald Trump's executive orders on issues including energy and immigration, while awaiting his first move on trade policy.
Most S&P 500 .SPX sectors are in positive territory with utilities .SPLRCU posting the biggest rise. Tech .SPLRCT and energy .SPNY are modestly red.
Under the surface, the S&P 500 banks index .SPXBK is on pace for a record closing high.
Looking back at the first Trump term, which Jay Woods, chief global strategist at Freedom Capital Markets, refers to as "Trump 1.0" in his weekly market letter, the market saw a slow and steady rise for his first year in office. In fact, Woods notes that the market was up 12 straight months until tariffs and a trade war with China took center stage.
"It was tariffs that derailed a strong rally and led to a 10% correction in 2018 and its tariffs that have traders and investors alike slightly concerned," writes Woods.
In any event, despite some sharp bouts of volatility over Trump's first term, the S&P 500 index did ultimately advance about 70% on a closing basis.
Here is a snapshot of where markets stood around 953 ET:
(Terence Gabriel)
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FOR TUESDAY'S EARLIER LIVE MARKETS POSTS:
BENCHMARK TREASURY YIELD SETBACK HELPING TO STOKE STOCKS - CLICK HERE
RATES RISKS: CAUTION ON UTILITIES AND SMALL CAPS - CLICK HERE
GOLDMAN SACHS VIEWS TRUMP'S INITIAL TARIFF RHETORIC AS RATHER GENTLE - CLICK HERE
LUXURY BACK IN FASHION, WITH THREE FACTORS TO CONSIDER - CLICK HERE
WELCOME TO TRUMP 2.0 - EUROPEAN AUTOS, RENEWABLES AND STEELMAKERS SLIDE - CLICK HERE
BEFORE THE BELL: EUROPE HEADS SOUTH, WIND STOCKS EYED - CLICK HERE
TRUMP'S BACK, SO IS VOLATILITY - CLICK HERE
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