US President Donald Trump signed multiple executive orders on his first day back in office, including a national energy emergency declaration and approval of US withdrawal from the Paris climate agreement.
Trump also hinted at imposing trade tariffs on Mexico and Canada, aiming for a 25% duty. However, no immediate tariffs were imposed.
The president directed the heads of all executive departments to deliver emergency price relief to combat inflation. Additionally, an order was signed to pause enforcement of a ban on TikTok social media platform in the US.
US markets rose due to positive reactions to Trump’s inauguration speech and his day-one executive orders. Streaming giant Netflix is set to report its fourth-quarter earnings on Tuesday after the market close, with analysts expecting strong results.
Elon Musk, CEO of Tesla, attended Trump’s inauguration and was appointed co-leader of the Department of Government Efficiency. Other tech leaders, including Mark Zuckerberg and Jeff Bezos, were also in attendance.
Bitcoin rallied to a fresh high before easing back, while shares in cryptocurrency trading platform Coinbase remained flat. Apple’s iPhone sales fell 18.2% in China in the December quarter, allowing Huawei Technologies to regain its top spot.
These moves come as Trump has vowed to drive the value of bitcoin higher through his presidency. The stock market and cryptocurrency markets are closely watching Trump’s actions for any signs of change in US trade policies and regulatory approaches.
Source: https://uk.finance.yahoo.com/news/trump-media-netflix-tesla-apple-coinbase-trending-tickers-105411262.html