24H|Trump-Linked Stocks, Chinese ADRs Jump As Trump Swears in As the 47th US President

Tiger Newspress01-21

Donald J. Trump took the oath of office to become the 47th president of the United States on Monday, capping a remarkable political comeback that he said would enable him “to make America greater, stronger and far more exceptional than ever before.”

Trump-linked stocks jumped in overnight trading. Destiny Tech100 Inc rose 2.9%; Trump Media & Technology rose 2.2%; Tesla Motors rose 1.5%.

President Donald Trump signed executive actions Monday and cemented his intent to double down on fossil fuels and reverse America’s progress on climate change and clean energy, including signing orders to pull United States out of the Paris climate agreement.

Energy stocks jumped in overnight trading. Vistra Energy Corp. rose 7.7%; Halliburton rose 4.2%; Exxon Mobil rose 2.4%; Schlumberger ros 2.3%; Occidental rose 1.2%; ConocoPhillips rose 1.1%.

Chinese ADRs jumped in overnight trading. President Trump said little about China in his inauguration address Monday amid growing signs that he's becoming friendlier with the country he's long assailed. Li Auto rose 7%; XPeng Inc. and KE Holdings Inc. rose 6%; iQiyi Inc. and JD.com rose 4%; Bilibili Inc. Alibaba rose 3%; NIO Inc. and NetEase rose 2%, Baidu rose 1%.

Intel shares jumped another 5% in overnight trading following 9% increase in prior session. The company could be a potential acquisition target. This development was reported by SemiAccurate, stirring investor interest in the chipmaker's stock.

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