US stock markets are closed for the Martin Luther King holiday, but futures are showing a strong rally. Dow Jones futures climbed 0.5% ahead of President-elect Donald Trump’s inauguration on Monday. The S&P 500 and Nasdaq futures also rose modestly.
Bitcoin topped $109,000 overnight, an all-time high, driven by Trump optimism. President Trump launched his own cryptocurrency and plans to issue executive orders that could impact Wall Street. These include a national energy emergency declaration, increased output from Alaska, and a ban on the Chinese-owned video app TikTok.
The stock market rally is looking strong, with leading stocks flashing buy signals. Tesla, ServiceNow, Amazon, and Broadcom are among those showing bullish action. The Nasdaq composite jumped 2.45% last week, while the S&P 500 index rose 2.9%. Crude oil fell over 1%, but the 10-year Treasury yield dived to 4.61%.
Investors should take advantage of this rally, adding exposure gradually and watching for stocks beyond the tech space. Earnings season will ramp up this week, with notable names including Netflix, GE Vernova, and American Express.
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Source: https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-donald-trump-inauguration-meme-coin-tiktok