Stocks rallied Tuesday as the president's first days bolstered risk appetite among investors.
Donald Trump's softer-than-feared tariff policy and the president's expected support for an artificial intelligence investment deal boosted the broader market. The Dow Jones Industrial Average jumped over 500 points, while the S&P 500 and Nasdaq Composite also rose. Small-caps gained sharply, with the Russell 2000 up nearly 2%.
Bond yields tumbled. The 10-year US Treasury yield fell four basis points to 4.564%.
Though Trump made universal tariffs a linchpin of his trade policy plans, the lack of immediate implementation relieved nervous investors. Trump said he would consider 25% tariffs on goods from Canada and Mexico by February 1st, but withheld on broader announcements.
Instead, the president issued a memo ordering some departments to study the impact of trade and currency practices by April. New tariff policy adjustments could start after that date.
Trump is also expected to announce a joint investment with OpenAI, Oracle, and Softbank. The project would pour billions into US AI infrastructure. The news sent technology mega-caps rallying, such as Nvidia, Amazon, and Alphabet.
Stocks also rose Tuesday on general bullishness amid expectations for a pro-business agenda under Trump. On his first day , the president declared a national energy emergency to promote US fossil fuel production and established a regulatory freeze.
Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday:
Here's what else is going on:
In commodities, bonds, and crypto:
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