U.S. stock indexes rose on Tuesday as investors’ focus shifted to executive orders on energy and immigration while awaiting President Donald Trump’s trade policy.
President Trump, who became the 47th president of the United States, has said he is considering imposing tariffs on Canadian and Mexican products as early as February 1.
As of 9:57 a.m., the Dow Jones Industrial Average rose 258.04 points, or 0.59%, to 43,745.87, the S&P 500 rose 26.73 points, or 0.45%, to 6,023.39, and the Nasdaq Composite Index rose 13.90 points, or 0.07%. Rise to 19,644.10.
When the opening bell rang, the Dow Jones Industrial Average rose 40.8 points, or 0.09%, to $43,528.65. The S&P 500 rose 17.5 points, or 0.29%, to 6,014.12, and the Nasdaq Composite Index rose 104.2 points, or 0.53%, to 19,734.391.
Apple shares fell 3.7% after brokerage firm Jefferies downgraded the iPhone maker’s stock rating to “underperform.”
Automakers General Motors and Ford rose 1.6% and 0.8%, respectively, while electric vehicle maker Tesla fell 3.1%.
3M shares rose 4.5% after the company reported strong fourth-quarter results.
Charles Schwab stock rose 7% after the company’s fourth-quarter profit rose 44%.
Moderna shares soared 9.3% after the company secured $590 million from the United States to accelerate development of an avian influenza vaccine.
In the bond market, the yield on the 10-year U.S. Treasury note fell to 4.56% from 4.62% late Friday.
Bullion
Gold prices soared on Tuesday, supported by a weaker US dollar.
Spot gold rose 1.1% to $2,738.19 an ounce by 10 a.m. ET. US gold futures rose 0.2% to $2,754.40.
Spot silver rose 0.7% to $30.71 an ounce.
crude oil
Oil prices fell on Tuesday, with Brent crude down 0.9% to $79.44 per barrel and U.S. WTI crude oil down 1.7% to $76.54 per barrel.
