Dow futures rise 100 points on Trump’s inauguration day with regular trading closed

US stock market futures rose amid Donald Trump’s inauguration, as investors bet that a series of immediate actions by the incoming president would boost the economy, especially in areas such as the banking and energy sectors.

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

Dow Jones Industrial Average Futures gained 122 points, or 0.3%. S&P 500 Futures added 0.3%. Nasdaq-100 Futures rose 0.4%.

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

bitcoin leap to a new record above $109,000 on Monday.

“I’ve been doing this for 49 years and we’re probably moving from the most anti-business administration to the opposite,” Stanley Druckenmiller, president and CEO of Duquesne Family Office, said in an interview during CNBC’s special coverage of the inauguration. “CEOs feel somewhere between relief and vertigo…we believe in animal spirits.”

There will be a flurry of executive actions revealed Monday for investors to assess their impact on the economy. A trade memorandum is expected from the new administration won’t do it impose tariffs yet. The memo will call for investigations of China, Canada and Mexico for unfair trade practices and monetary policies.

Elsewhere, the president-elect will declare a national energy emergency, according to an incoming White House officialwith the aim of reducing high costs. It will expand the president’s legal options to allow drilling in Alaska and other areas.

Other executive actions on Monday are likely to address business deregulation and immigration restrictions.

Druckenmiller, considered one of the greatest hedge fund managers of all time, was cautious on the broader market due to rising interest rates.

Trump will be sworn in Monday at noon ET.