A rally in Trump stock futures led to Monday’s inauguration

US stock market futures rose as Donald Trump was sworn in for a second term as US president, as investors believe his series of immediate actions will boost the economy, particularly in areas such as the banking and energy sectors.

Traders were also likely encouraged by the news that Trump would not immediately impose new tariffs on the first day.

Dow Jones Industrial Average futures gained 166 points, or 0.4%. S&P 500 Futures added 0.4%. Nasdaq-100 futures grew by 0.6%.

Regular trading on the New York Stock Exchange and Nasdaq was closed for the Martin Luther King Day holiday, but futures trading was limited.

Bitcoin jumped up to a new record high above $109,000 on Monday.

“I’ve been doing this for 49 years, and we’re probably going from the most anti-business administration to the most anti-business one,” said Stanley Druckenmiller, chairman and CEO of the Duquesne Family Office, in an interview during CNBC’s special inaugural coverage. “CEOs feel a cross between relief and giddy … we believe in animal spirits.”

A flurry of executive decisions will be released on Monday so investors can gauge their impact on the economy. A trade memorandum is expected from the new administration will not yet to introduce tariffs. The memo would call for investigations into China, Canada and Mexico for unfair trade practices and currency policies.

Elsewhere, Trump was set to declare a national emergency, according to a White House officialin order to reduce high costs. It would expand the president’s legal powers to authorize drilling in Alaska and other areas.

Other executive action on Monday is likely to focus on business deregulation and immigration restrictions.

Druckenmiller, considered one of the top hedge fund managers, was somewhat cautious about the market as a whole because of rising interest rates.