SPX: S&P 500 Futures Rise as Trump Gets to Work, Earnings Get Cracking

Broad-based Wall Street average appears excited to see Donald Trump get to work. Also, Netflix is on deck for earnings update after the bell.

🚀 Futures Up, Tariffs Up

• Futures contracts tied to the S&P 500 were looking up ahead of Tuesday’s open as investors were dealing with plenty to digest. First off, stocks took a breather Monday in honor of Martin Luther King, Jr’s birthday. But it was also Inauguration Day and Donald Trump was sworn in as the 47th US President.
• And it’s on now — Trump already promised to slap 25% tariffs on imports from Canada and Mexico. China might get special treatment — 100% tariff (imagine the hike in iPhone prices).

👌 Dow, S&P 500 Performing Pretty Good

• In all that, investors were trying to figure out how to approach the stock market. Naturally, the optimistic tone won and all three major averages were pointing higher ahead of the opening bell. Trump’s administration is shaping up as the most pro-business, replacing Biden’s anti-business four-year time stretch.
• Quick catch-up: the Dow Jones Industrial Average and the S&P 500 on Friday logged their best week since the November election. All three averages are up by about 2% so far on the year.

🍿 Netflix Earnings Coming to Your Screen

• In other big news, the earnings season is picking up the pace. Streaming giant Netflix NFLX is preparing to offload quarterly numbers today after the closing bell. For the holiday quarter, analysts expect to see Netflix add 8.2 million subscribers, totaling 290.9 million.
• Shares of Netflix are down more than 3% this year but they enjoyed lots of buying from traders last year when they peaked at a record high of $935 a piece in December.