US stocks closed strong after Trump took office on Monday and seemed to soften his stance on tariffs. Dow and S&P 500 ended at highest since Dec.

Wall Street’s main indexes closed higher on Tuesday, with the S&P 500 and the Dow hitting their highest in more than a month, as investors assessed Donald Trump’s first actions as president and breathed relief that he did not start his second term with blanket tariff increases.

U.S. stocks rose after more companies said they made bigger profits at the end of last year than analysts expected and as Treasury yields eased.

Trump was quoted saying his team was thinking of tariffs around 25% which could be announced on Feb. 1 but offered no other specifics.

Donald Trump sparked a fresh sell-off in exporter currencies hours after his inauguration as he threatened to hit Mexico and Canada with big tariffs. Speaking in the Oval Office late on Monday, Trump said he could enact tariffs of 25 per cent against both countries as soon as February 1,