The New York Stock Exchange opened in the green on Tuesday morning, but gains remained moderate as Donald Trump's first speech after being sworn in as the new US President confirmed fears of a protectionist economic policy.

In late morning trading, the Dow Jones was up nearly 0.9% at 43,864.5 points, while the Nasdaq Composite was up a more limited 0.2% at 19,667.6 points.864.5 points, while the Nasdaq Composite posted a more limited rise of 0.2% to 19,667.6 points.

In his speech yesterday at the end of his inauguration ceremony in Washington, Donald Trump promised to put America first, announcing the start of a "golden age" for the country.

The markets initially welcomed the fact that no new tariffs would be implemented with immediate effect, but the businessman quickly reversed himself, promising to impose 25% tariffs on Canada and Mexico from February 1.

Promises of tax cuts and deregulation had helped Wall Street rise since the November 5 election to new all-time highs, before this effect finally faded at the end of last year.

Investors fear the inflationary impact of the new administration's aggressive economic policy, which could lead the Fed to ease up on its monetary easing program.

Investors also fear renewed volatility on the markets, as the new president makes thunderous and sometimes contradictory statements.

On the stock front, 3M climbed almost 5% after reporting better-than-expected 4th-quarter earnings in the morning and a positive outlook for 2025.

Netflix gained around 8.8% a few hours ahead of the publication of its quarterly results, expected after the close.

On the currency markets, the dollar suffered from the lack of concrete announcements in Donald Trump's speech, which benefited the euro, which climbed back close to $1.0415.

US government bond yields fell back from last week's one-and-a-half-year highs. The 10-year yield is back to 4.57%, a far cry from the 4.80% level reached eight days ago.

On the oil front, US light crude (West Texas Intermediate, WTI) is seeing sharp profit-taking after its recent peak of over $80, and is currently down 1.6% at $76.6.

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