US stocks were higher on Tuesday, with both the S&P 500 and the Nasdaq rising 0.5% and the Dow Jones gaining about points 170 points as traders prepared for Donald Trump’s second administration. On his first day in office yesterday, Trump took several steps to advance his agenda but refrained from immediately imposing tariffs, as many had anticipated. However, he later indicated plans to introduce a 25% levy on Mexico and Canada while avoiding mention of China. Traders are now shifting their focus to growth prospects under the new administration and corporate earnings reports from major companies. Charles Schwab (5%) and Prologis (1.6%) beat on both earnings and revenue and earnings from 3M (6.4%) topped forecasts and the company's guidance was close to expectations. Netflix is also due to report today after the closing bell.
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