Trump-Linked Stocks, Energy Shares Jump Premarket. DXYZ Gains 9%; Eon Resources Soars 85%; Tesla Rises 1.8%

Tiger Newspress
01-21

Donald J. Trump took the oath of office to become the 47th president of the United States on Monday, capping a remarkable political comeback that he said would enable him “to make America greater, stronger and far more exceptional than ever before.”

Trump-linked stocks jumped in premarket trading. Destiny Tech100 Inc rose 9.3%; Phunware, Inc. rose 3%; Tesla Motors rose 1.8%.

President Trump vowed to send American astronauts to the planet Mars in his inaugural address, envisioning a moment when the U.S. flag is planted on Martian soil.

"We will pursue our manifest destiny into the stars, launching American astronauts to plant the Stars and Stripes on the planet Mars," Trump declared. The audience broke into applause, and Elon Musk, the chief executive of SpaceX and the world's richest man, was spotted giving two enthusiastic thumbs up. He has been a longstanding proponent of trying to colonize the red planet. Trump added: "Ambition is the lifeblood of a great nation."

Destiny Tech100 is a fund that offers retail investors access to high-profile private startups, and SpaceX is Destiny Tech100's largest holding, making up about 37.6% of the portfolio.

President Donald Trump signed executive actions Monday and cemented his intent to double down on fossil fuels and reverse America’s progress on climate change and clean energy, including signing orders to pull United States out of the Paris climate agreement.

Energy stocks jumped in premarket trading. Eon Resources soared 85%; Halliburton rose 2%; Schlumberger rose 2%; Exxon Mobil rose 1%.

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