US benchmark equity indexes were higher intraday as markets digested President Donald Trump's initial agenda items and awaited Netflix's (NFLX) latest financial results.

The Dow Jones Industrial Average was up 1.1% at 43,951.2 after midday Tuesday, while the S&P 500 rose 0.9% to 6,047.3. The Nasdaq Composite advanced 0.7% to 19,770.7. Barring energy, all sectors were higher, led by industrials.

US markets were closed Monday in observance of Martin Luther King Jr. Day.

Trump's inauguration ceremony was held Monday. He outlined various agenda items for his administration, including higher tariffs and stricter immigration restrictions, according to Stifel.

"While the administration is widely expected to follow through on increasing the burden on foreign exporters, the use of tariffs is likely to be implemented more slowly than previously anticipated or at least in a more tactical manner in order to secure better trade deals or cooperation on ending illegal immigration or to deter military conflict, as opposed to implementing a 'one-size-fits-all' strategy," Stifel said in a note to clients.

West Texas Intermediate crude oil dropped 2.3% to $76.06 a barrel intraday Tuesday.

"In line with his election promises, Trump declared a national energy emergency and set out a general policy direction aimed at accelerating domestic oil and gas supply, immediately revoking former President Joe Biden's pause on new liquefied natural gas permitting," Rystad Energy said in a report.

The US two-year yield was up 1.3 basis points at 4.29% intraday , while the 10-year rate fell 3.3 basis points to 4.58%.

Streaming giant Netflix is scheduled to report results after Tuesday's closing bell, along with United Airlines (UAL).

In company news, 3M (MMM) logged better-than-expected fourth-quarter results, while the industrial conglomerate forecast earnings to be higher in 2025 than the previous year. Its shares jumped 5.6%, the top gainer on the Dow.

Prologis (PLD) was among the best performers on the S&P 500, up 6.5%, after the logistics real estate investment trust's core funds from operations surpassed market expectations for the fourth quarter.

Walgreens Boots Alliance (WBA) shares slumped nearly 14%, the steepest decline on the S&P 500. The drugstore chain is facing a lawsuit by the US Department of Justice over its alleged improper dispensing of opioids.

Apple (AAPL) iPhone sales declined around 18% in China in the December quarter, Bloomberg News reported, citing an independent research firm. The technology giant's shares were down 3.8%, the worst Dow performer and the second-worst on the Nasdaq.

Gold was up 0.4% at $2,760.50 per troy ounce, while silver rose 1.3% to $31.54 per ounce.