TikTok Service Restored in US as Trump Issues Executive Order
The week started off on a high note for the US markets, marking their first weekly gain in 2025. The S&P 500 surged 2.9% and the Dow Jones Industrial Average jumped 3.7%, their best weekly performance since the election of President-elect Donald Trump.
President-elect Trump wrote on his social media app that he would issue an executive order on Monday to delay a ban on TikTok, prompting the company to restore its service in the US. This move comes after Perplexity AI submitted a bid to TikTok’s parent company ByteDance to create a new merged entity combining Perplexity, TikTok U.S., and new capital partners.
US Stocks Rise Amid Trump’s Presidency
Markets are expected to be influenced by Trump’s agenda, particularly his stance on tariffs and corporate policies. Analysts predict that his executive orders could shape the direction of stocks for the long term.
In a positive sign, better-than-expected inflation readings in December have helped revive the “goldilocks narrative” for equities, with all sectors of the market ending the week in the green. Bank stocks are also performing well, driven by better-than-expected earnings reports from big banks, including Goldman Sachs and JPMorgan Chase.
A sector that is expected to benefit under Trump’s presidency includes financials, according to Chris Senyek, chief investment strategist at Wolfe Research. Rising business and consumer confidence, an extension of tax cuts, and deregulation of the finance industry are potential drivers of the sector.
With Trump set to take office on Monday, investors will be closely watching his executive orders to determine the direction of markets.
Source: https://www.cnbc.com/2025/01/20/cnbc-daily-open-markets-are-getting-ready-for-trump-2point0.html