Stock Market Today: Dow and S&P rise as Nasdaq wobbles and Treasury yields slip. Apple stock down, Netflix earnings ahead.

On Friday, the Dow Jones Industrial Average rose 335 points, or 0.78%, to 43,488, the S&P 500 increased 59 points, or 1%, to 5,997, and the Nasdaq Composite gained 292 points, or 1.51%, to 19,630.

Markets are returning from the long weekend in an upbeat mood.

Fears that Donald Trump would immediately slap a range of tariffs on U.S. imports proved misplaced as the 47th President did not follow through with his pledge – instead later on Monday alluding to possible tariffs on just Canada and Mexico at the start of February.

The lack of tariffs – which many investors fear are inflationary – has sparked a rally in Treasurys, pushing down yields and providing further support to stock-index futures.

“The general market reaction has been muted to the new President’s raft of executive orders, even bringing some relief in the absence of the expected immediate announcements on tariffs,” said Richard Hunter, head of markets at Interactive Investor.

“Of course, the real tests are yet to come when the potentially inflationary impacts of any tax cuts, lesser regulation and immigration policies are known, while the generally pro-business agenda could work in investors’ favor. As evidenced in the President’s first term, one outcome which seems inevitable is an increase in volatility, given the range and speed with which any measures could be introduced,” Hunter added.