US close: Stocks higher as Trump returns to the White House

(Sharecast News) - Wall Street stocks closed higher on Tuesday as the first trading day of Donald Trump's second presidential term was a positive one for major indices. At the close, the Dow Jones Industrial Average was up 1.24% at 44,025.81, while the S&P 500 advanced 0.88% to 6,049.24 and the Nasdaq Composite saw out the session 0.64% firmer at 19,756.78.

The Dow closed 537.98 points higher on Tuesday, extending gains recorded in the previous session.

Trump was still firmly in focus on Tuesday, with the president making tariff comments as he was signing executive orders, stating he was mulling over the idea of slapping 25% tariffs on both Mexico and Canada on 1 February due to their border policies. He also mentioned that China may be in the firing line if the country refuses to approve a deal for the sale of TikTok but fell short of specifying any plans for tariffs.

Elsewhere, Trump declared a national energy emergency to increase fossil fuel production and said he would stop leasing Federal land for wind farm usage as he stated his return to the White House was the beginning of a period of growth and success for the US.

Also drawing an amount of attention, Tesla chief executive Elon Musk, an ally and major financial backer of the president, caused outrage over a one-armed gesture he gave during a speech celebrating Trump's inauguration. Musk thanked the crowd for "making it happen", before placing his right hand over his heart and then thrusting the same arm out into the air straight ahead of him, with many likening the gesture to a Nazi salute.

In the corporate space, 3M shares rose after Q4 results met or slightly exceeded market expectations, with adjusted earnings of $1.68 per share surpassing analysts' estimates of $1.66 and revenue rising marginally to $6.01bn, ahead of the $5.78bn expected.

Elsewhere in the corporate space, shares in streaming giant Netflix soared in extended trading on the back of strong quarterly numbers, with surging revenues and record subscriber numbers.

No major data points were released on Tuesday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

3M Co. (MMM) $141.03 4.16% Nike Inc. (NKE) $70.84 3.29% Caterpillar Inc. (CAT) $386.02 3.20% Unitedhealth Group Inc. (UNH) $509.76 2.99% Boeing Co. (BA) $171.09 2.61% Home Depot Inc. (HD) $409.38 2.21% American Express Co. (AXP) $312.56 1.72% Walt Disney Co. (DIS) $107.02 1.57% JP Morgan Chase & Co. (JPM) $259.16 1.49% Goldman Sachs Group Inc. (GS) $625.94 1.41%

Dow Jones - Fallers

Walgreens Boots Alliance, Inc. (WBA) $11.37 -9.19% Apple Inc. (AAPL) $222.64 -3.19% Chevron Corp. (CVX) $161.47 -2.00% Merck & Co. Inc. (MRK) $97.92 -1.72% Coca-Cola Co. (KO) $62.71 -0.46% International Business Machines Corporation (CDI) (IBM) $224.79 -0.24% Travelers Company Inc. (TRV) $239.52 -0.15% Microsoft Corp. (MSFT) $428.50 -0.12% Dowdupont Inc. (DWDP) $0.00 0.00% Procter & Gamble Co. (PG) $161.13 0.37%

S&P 500 - Risers

Oracle Corp. (ORCL) $161.03 7.17% ProLogis (PLD) $109.48 7.12% NRG Energy Inc. (NRG) $104.51 6.74% Fluor Corp. (FLR) $50.39 6.21% Gap Inc. (GAP) $23.46 6.14% Quanta Services Inc. (PWR) $337.46 6.09% Tractor Supply Company (TSCO) $56.88 6.00% Charles Schwab Corp. (SCHW) $76.41 5.92% Dollar General Corp (DG) $68.44 5.11% VF Corp. (VFC) $23.67 4.77%

S&P 500 - Fallers

Walgreens Boots Alliance, Inc. (WBA) $11.37 -9.19% Lennar Corp. Class A (LEN) $141.54 -5.93% Booking Holdings Inc. (BKNG) $4,686.41 -4.88% Keycorp (KEY) $18.30 -3.61% Albemarle Corp. (ALB) $97.49 -3.53% CF Industries Holdings Inc. (CF) $97.01 -3.45% Devon Energy Corp. (DVN) $37.95 -3.21% Apple Inc. (AAPL) $222.64 -3.19% CenturyLink Inc. (LUMN) $5.66 -3.18% Expedia Group Inc. (EXPE) $181.40 -3.14%

Nasdaq 100 - Risers

Qurate Retail Inc. (QRTEA) $0.36 4.28% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $422.16 4.23% Western Digital Corp. (WDC) $67.43 3.67% Seagate Technology Plc (STX) $101.25 3.67% Micron Technology Inc. (MU) $109.38 3.43% Illumina Inc. (ILMN) $141.31 3.40% Starbucks Corp. (SBUX) $97.98 3.00% Check Point Software Technologies Ltd. (CHKP) $192.96 2.71% Trip.com Group Limited (TCOM) $68.97 2.68% Dollar Tree Inc (DLTR) $73.76 2.34%

Nasdaq 100 - Fallers

Walgreens Boots Alliance, Inc. (WBA) $11.37 -9.19% Booking Holdings Inc. (BKNG) $4,686.41 -4.88% Apple Inc. (AAPL) $222.64 -3.19% Expedia Group Inc. (EXPE) $181.40 -3.14% eBay Inc. (EBAY) $64.63 -2.36% Paypal Holdings Inc (PYPL) $89.77 -2.22% JD.com, Inc. (JD) $38.50 -1.28% Gen Digital Inc. (GEN) $27.32 -0.73% Take-Two Interactive Software Inc. (TTWO) $185.14 -0.68% Tesla Inc (TSLA) $424.07 -0.57%