Wall Street interpreted President Donald Trump’s initial comments and actions on international trade as less severe than expected, leading to a rise in the Dow Jones Industrial Average on Tuesday. At the time of writing,

Futures on the Dow Jones Industrial Average rose in electronic trade and the U.S. dollar slumped Monday after a report that President-elect Donald Trump won’t impose new tariffs during his first day of office.

Wall Street’s main indexes closed higher on Tuesday, with the S&P 500 and the Dow hitting their highest in more than a month, as investors assessed Donald Trump’s first actions as president and breathed relief that he did not start his second term with blanket tariff increases.