Investing.com – US President-elect Donald Trump is expected to take a big stand on Monday, with traders in particular looking for more clarity on the potential impact of his policy plans. Trump is expected to issue several executive orders in the opening hours of the new administration that affect a wide range of issues. Elsewhere, TikTok begins to restore service in the US as Trump says the app should be kept in the country, while the value of Trump's memecoin.
1. Trump's inauguration
Donald Trump is expected to be sworn in as the 47th president of the United States on Monday.
In preparation for 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 a push to fulfill his campaign promises.
Trump is expected to announce more than 200 of these actions, which are legally binding but subject to legal review. These orders are proposed to affect a wide range of issues, including immigration, environmental regulations, and business diversity policies.
One major move could see Trump begin mass deportations. Media reports have suggested that Trump, who has vowed to carry out the largest deportation program in US history, will call for raids in several major cities in the opening days of his second term.
Investors are waiting for more clarity on Trump's plans, especially their potential impact on inflationary pressures and possible Federal Reserve interest rate cuts this year. Stock markets should be closed Monday in observance of the Martin Luther King Jr. Day holiday.
2. TikTok begins to restore US services
TikTok began restoring services to its 170 million users in the US on Sunday, as President-elect Donald Trump promised to restore access to the short-form video platform when he returns to power.
TikTok's return came more than 14 hours after the service was suspended due to a national security law requiring it to divest its Chinese ownership or close its operations in the US.
Speaking at a rally on Sunday, Trump said “we have to save” the popular app, which has faced scrutiny from US officials over concerns it could be used by the Chinese government to track or target American users.
Before the event, TikTok released a message saying “it's back in the US”, and thanked Trump even more.
Trump said he is likely to give TikTok 90 days before the ban begins, adding that he would like the US to “have a 50% ownership position in the joint venture”.
3. Trump's memecoin was released after first lady Melania launched a rival token
Trump's new cryptocurrency surged ahead of the inauguration, but retreated in value after US First Lady Melania Trump unveiled her own token.
“My NEW Official Trump Meme is here! It's time to celebrate everything we stand for: REST!” Trump wrote in a post on his social media platform Social Truth.
The crypto industry has been boosted since Trump's election victory in November, and his supporters hope that he will help usher in a new era of digital asset adoption. Trump, who previously called it a “scam”, has promised that America will become the “crypto capital” of the world when he returns to office.
$ Trump memecoins, which started selling for $ 10 each, sold as high as $ 70 on Sunday, according to CoinMarketCap. But it reversed some of these gains after the launch of his wife, $Melania's coin.
Meanwhile, Bitcoin reached a new record high on Monday, adding to the value of the world's most popular cryptocurrency since Trump's election victory.
4. Salary this week
Investors hoping for another strong year in US-backed equity markets will get a clearer picture this week, with a list of companies set to report fourth-quarter earnings.
The reports come from streaming giant Netflix (NASDAQ:), healthcare leader Johnson & Johnson (NYSE:), consumer electronics firm Procter & Gamble (NYSE:), and credit card issuer. American Express (NYSE: ).
Earnings season started last week with major banks posting strong earnings. The increase in transactions and strong performance in the market boosted trading income for major Wall Street lenders.
In general, analysts expect companies to report a 10.4% year-on-year increase in fourth-quarter earnings, according to LSEG IBES data from January 15, cited by Reuters.
5. Oil dips
Oil prices fell on Monday, with traders taking risk off the table ahead of Donald Trump's inauguration.
At 03:51 ET, US crude futures (WTI) were down 0.4% to 77.11 a barrel, while the contract was down 0.4% to 80.47 a barrel.
Trump is set to take office later Monday, and is widely expected to make a series of policy announcements almost immediately. This could include easing restrictions on Russia's energy sector in exchange for an agreement to end the war in Ukraine.
Oil is up 10% so far this month, amid concerns about the impact of Western sanctions on Russian crude.