5 Things to Know Before the Stock Market Opens

President Donald Trump issues executive orders on inflation, energy, and immigration after taking office but pushes off action on tariffs until next month; U.S. stock futures are pointing higher as investors react to Trump’s actions and ready for corporate earning reports; Netflix (NFLX) stock is moving higher in premarket trading as the streaming giant prepares to report quarterly results after the bell; bitcoin (BTCUSD) pulls back from its all-time high set on a volatile Inauguration Day; and Apple (AAPL) stock is lower after a rating downgrade on phone sales worries. Here’s what investors need to know today.

1. Trump Issues Slew of Executive Orders But Holds Off on Tariffs

President Donald Trump issued several executive orders after his inauguration Monday but did not include tariffs he previously threatened to impose on “Day One” of his presidency. Still, Trump said he could enact tariffs of 25% on Mexico and Canada on Feb. 1. Trump also signed an order granting Chinese-owned social media app TikTok 75 days to find a U.S. owner before a ban is enacted here.

2. US Stock Futures Point Higher as Investors React to Trump

U.S. stock futures are pointing higher as investors react to Trump’s inauguration and anticipate corporate earnings reports this week. Nasdaq futures are up 0.4% after the tech-heavy index rose 1.5% Friday. Dow Jones Industrial Average and S&P 500 futures are higher by roughly similar percentages. Yields on the 10-year Treasury note are down, trading under 4.6%, while the U.S. dollar is lower against a basket of currencies. Oil futures are more than 2% lower, while gold futures are down 0.5%.

3. Netflix Stock Gains Ahead of Earnings Report

Netflix (NFLX) stock is up about 1% in premarket trading as investors prepare for the streaming giant to report earnings after markets close today. Analysts expect Netflix to report 15% year-over-year revenue growth to $10.13 billion and for earnings to climb to $1.84 billion, or $4.23 per share, from $937.8 million, or $2.11 a share, according to Visible Alpha. Netflix’s report will be the first that won’t include quarterly updates of subscriber levels. The stock is up more than 75% over the past 12 months.

4. Bitcoin Pulls Back From All-Time High on Volatile Inauguration Day

After surging above $109,000 ahead of Trump’s inauguration, bitcoin (BTCUSD) pulled back from its new all-time high after he didn’t mention cryptocurrency in his inaugural address. Still bitcoin recently was trading at over $104,000, up 2% early Tuesday. The cryptocurrency price volatility comes after Trump and First Lady Melania Trump launched meme coins ahead of the inauguration. Shares of bitcoin buyer MicroStrategy (MSTR) are down less than 1% in premarket trading, while those of crypto exchange Coinbase (COIN), bitcoin miner Mara Holdings (MARA), and Riot Platforms (RIOT) are higher.

5. Apple Stock Slips on Rating Downgrade Over Sales Worries

Apple (AAPL) shares are nearly 2% lower in premarket trading after analysts at Jefferies downgraded the tech giant’s stock to “underperform” from “hold” on worries of flagging iPhone sales amid stunted demand for their artificial intelligence (AI) features. According to a MarketWatch report, the Jefferies note took a cautious view on upcoming earnings reports and set Apple’s price target for $200.75, lower than its Friday close of about $230. Apple shares fell sharply last Thursday as data from research firm Canalys indicated the tech giant lost its coveted position as China’s largest smartphone seller last year.