Wall Street ended on a high note this Friday, marking the first weekly increase for stocks in 2023, just ahead of Donald Trump’s return to the presidency.

The inauguration of President-elect Trump is set for Monday, and his initial days in office are anticipated to involve a series of executive orders.

“Reports suggest there could be over 100 executive actions,” stated analysts from Morgan Stanley. They indicated that any news on the administration’s plan for implementing proposed tariffs will be closely scrutinized.

Morgan Stanley economists believe there is still a chance for the Federal Reserve to reduce interest rates in its March meeting, following softer inflation data released earlier this week. However, they cautioned that “if tariffs are introduced sooner and at higher levels than anticipated, a rate cut in March may not happen.”

Bitcoin surged by 4.95%, nearing $105,000, amid speculation about a potential executive order from Trump on his first day. It was recorded at $104,949 amidst reports suggesting Trump may prioritize cryptocurrency policy at the start of his term. Additionally, shares in crypto-related companies such as Coinbase and Robinhood saw an increase.

The broader S&P 500 index climbed by 1% to close at 5,996.71, the Dow Jones rose 0.77% to 43,487.52, and the tech-heavy Nasdaq soared by 1.51% to 19,630.20.

Shares in major social media companies like Meta (owner of Facebook and Instagram) and Alphabet (parent of YouTube) also rose, following the Supreme Court’s decision upholding a law that could lead to a TikTok ban unless its Chinese parent company sells it. Reports indicate Trump is contemplating an executive order that could prevent this ban. Analysts suggest that companies such as Meta and Alphabet could prosper from a ban on TikTok.

The benchmark yield on the 10-year Treasury bond increased to 4.615%.

Market Overview Leading to Inauguration Monday

U.S. stocks achieved a weekly gain for the first time this year, with the S&P 500 and Dow recording their most significant weekly increases since November, while the Nasdaq had its best week since December.

“The current U.S. economic environment, based on December data, showcases a favorable scenario—strong employment, decreasing core inflation (excluding volatile food and energy prices), and resilient consumer spending,” commented Michael Brown, a senior research strategist at Pepperstone, which provides trading services. “This sets an advantageous stage for President-elect Trump as he takes office on Monday.”

On Friday, December’s industrial production and capacity utilization statistics significantly exceeded forecasts. Industrial production, reflecting factory output, rose by 0.9%, while capacity utilization, indicating resource efficiency, increased to 77.6%.

From a technical standpoint, stocks appear to be on an upward trend, according to Larry Tentarelli, chief technical strategist for Blue Chip Daily Trend Report.

He noted that “sentiment indicators,” which reflect bullish or bearish attitudes, are very reliable contrarian signals, and the current bullish sentiment for stocks is at its lowest since the significant S&P 500 lows in November 2023. This trend could bode well for future stock performance.

“Typically, investors are most optimistic at market highs and most pessimistic during lows,” he explained.

Corporate Highlights

Corporate news remains in the spotlight, with some of the day’s most notable stock movements including:

• Tesla’s shares gained 3% amid speculation that founder Elon Musk might acquire TikTok. Previous reports indicated that ByteDance was contemplating selling TikTok to Musk, who is an ally of Trump and owns X.
• Shares of J.B. Hunt plummeted over 7% after the transport company reported earnings that fell short of analysts’ expectations.
• Intel’s stock saw a rise of more than 9% due to rumors of potential takeover offers.

• Schlumberger’s stock rose by 6% after the oil giant exceeded fourth-quarter profit expectations, buoyed by rising demand for its drilling equipment and technology across North America and beyond.
• Truist Financial shares increased by 6% following a report of a profit rise in the fourth quarter due to higher interest earnings.
• Shares of Trump Media tapered off from early gains to close down 2.37% ahead of Trump’s inauguration.
• Novo Nordisk’s stock dropped by more than 5% after its weight-loss drug Wegovy and diabetes medication Ozempic were included on Medicare’s list of drugs set for price negotiations.

(This story has been updated with the latest information.)

Medora Lee is a reporter focused on money, markets, and personal finance.