Trump’s inauguration is the focus of executive orders ahead of us.
Investing.com – The inauguration of U.S. President-elect Donald Trump is expected to take center stage on Monday, with traders looking for more clarity on the potential impact, particularly on his policy plans. Trump has been tipped to issue a number of executive orders in the opening hours of the new administration that will touch on a wide range of issues. Elsewhere, TikTok will begin restoring its service in the US as Trump says the app should be kept in the country and the value of Trump’s memecoin rises.
1. Trump’s inauguration
Donald Trump will be sworn in as the 47th President of the United States on Monday.
In the build-up to his return to the White House, Trump has promised to sign a wave of executive orders on his first day in office as part of an early push to fulfill his campaign promises.
Trump is expected to unveil more than 200 of those actions, which are legally binding but still subject to legal review. It has been suggested that the orders will affect a wide range of issues, including immigration, environmental regulations and corporate diversity policies.
One key step Trump could take is the wholesale deportation of illegal immigrants. Trump, who has promised to carry out the largest kidnapping program in American history, will conduct raids in several major cities in the opening days of his second term, according to media reports.
Investors have been waiting for more clarity around Trump’s plans, particularly on the impact on inflation and potential Federal Reserve interest rate cuts this year. Stock markets are scheduled to be closed Monday in observance of Martin Luther King Jr. Day.
2. TikTok started to restore US services
TikTok began restoring service to its 170 million users in the U.S. on Sunday, following President-elect Donald Trump’s promise to restore access to the short-lived video platform when he returns to office.
TikTok’s comeback comes 14 hours after its service was suspended under national security laws that would force it to divest itself of Chinese ownership or shut down its operations in the US.
At a rally on Sunday, Trump said “we have to save” the popular app, which has faced scrutiny from U.S. officials over fears the Chinese government could use it to track American users or use it for propaganda.
Before the event, Tik Tok tweeted that it was “back in America” and specifically thanked Trump.
Trump has said he will give TikTok a 90-day grace period before the ban takes effect, saying he wants the US to “have a 50% ownership position in the joint venture.”
3. Trump memecoin crashes after wife Melania launches rival token.
Trump’s new cryptocurrency surged ahead of his inauguration, but retreated in value after US First Lady Melania Trump launched her own token.
“My new official Trump meme is here! It’s time to celebrate everything we stand for: WINNER!” Trump wrote in a post on his social media site Truth Social.
Ever since Trump won the election in November, the crypto industry has taken a hit. Trump, who previously described it as a “fraud,” promised that America would be the “capital” of the world when he returned to office.
The $Trump memecoins, which started selling at $10 each, were trading as high as $70 on Sunday, according to CoinMarketCap. But after launching his wife’s coin, Melania has scaled back some of those benefits.
Meanwhile, Bitcoin hit a new record high on Monday after Trump won the election.
4. Earnings this week
Investors hoping for another strong year in the equity market, buoyed by U.S. corporate profits, will get a clearer view this week, as several companies are set to report fourth-quarter earnings.
Reports come from giant Netflix (NASDAQ: ), healthcare leader Johnson & Johnson (NYSE: ), consumer goods powerhouse Procter & Gamble (NYSE: ) and credit card issuer American Express (NYSE:
Earnings season kicked off last week with big banks posting strong profits, while increased trading and strong equity market performance boosted trading revenues.
Analysts generally expect companies to report a 10.4% year-over-year rise in fourth-quarter earnings, according to LSEG IBES data from Jan. 15, cited by Reuters.
5. Oil dippers
Oil prices fell on Monday as traders took concerns off the table ahead of Donald Trump’s inauguration.
U.S. crude futures (WTI) were down 0.4 percent at $77.11 a barrel at 03:51 ET, while the contract was down 0.4 percent at $80.47 a barrel.
Trump is set to take office late Monday, and is expected to make a series of policy announcements immediately. These could include relaxing restrictions on Russia’s energy sector in exchange for a deal to end the war in Ukraine.
Oil is up 10% this month amid concerns about the impact of more Western sanctions on Russian crude.
