Major U.S. equities indexes advanced as the markets kicked off a shortened trading week following the Martin Luther King Jr. holiday and President Donald Trump's inauguration.

Despite an array of executive orders signed in the opening moments of his new presidency, Trump notably did not enact tariffs he previously indicated he would impose on day one, suggesting the possibility of a less aggressive stance on trade than expected.

The S&P 500 added 0.9% on Tuesday. The Nasdaq climbed 0.6%, while outperformance in the industrials sector helped lift the Dow 1.2%.

Shares of nuclear power generators moved higher on the first day of trading in the second Trump administration. Chris Wright, selected by Trump to head the Department of Energy, has stressed that the U.S. will prioritize nuclear power production as it aims to increase energy output. Vistra (VST) shares surged 8.5% Tuesday, posting the S&P 500's top performance, after authorities lifted evacuation orders related to a fire at a company plant in Monterey County, California. NRG Energy (NRG) shares were up 6.7%.

Shares of Oracle (ORCL) popped 7.2% higher following reports that the software giant would participate in a $500 billion program aimed at enhancing artificial intelligence (AI) infrastructure in the U.S. According to CBS News, Trump is set to announce a massive private-sector investment—a joint venture known as Stargate that will also include Japanese holding company SoftBank (SFTBY) and research organization OpenAI.

Prologis (PLD), a real estate investment trust (REIT) focused on logistics facilities, reported better-than-expected core funds from operations (FFO) for the fourth quarter, and its shares jumped 7.1%. An increase in demand for warehouse space—boosted by importers stocking up on goods in anticipation of potential tariffs under the new presidential administration—helped drive the strong performance. Prologis also sold a Chicago-area data center facility during the quarter but did not disclose the financial details of the transaction.

Walgreens Boots Alliance (WBA) shares plunged 9.2%, losing the most of any S&P 500 stock. The U.S. Department of Justice filed a lawsuit claiming the pharmacy giant unlawfully dispensed millions of prescriptions with no legitimate medical basis. According to the suit, the company pressed its pharmacists to fill prescriptions quickly, resulting in the improper dispensation of opioids and other medications. The pharmacy chain said the lawsuit amounted to an "attempt to enforce arbitrary 'rules' that do not appear in any law or regulation."

Shares of online travel platform operator Booking Holdings (BKNG) sank 4.9%. Tuesday's downturn reversed gains posted by the stock last week after analysts at Morgan Stanley lifted their price target on Booking stock, citing the potential for the company's generative AI tool to drive outperformance. However, competition is intense in the travel booking industry, and the company's dependence on lead generation for bookings remains a concern.

First Solar (FSLR) shares slipped 4.9%. Although BMO Capital Markets reiterated its "outperform" rating on First Solar stock, analysts pointed to numerous challenges, including issues related to the solar equipment market in India that could also weigh on the company's sales in Malaysia and Vietnam. Beyond the international concerns, the outlook for renewable energy in the U.S. under the new presidential administration adds a layer of uncertainty.