S&P 500 futures are slightly higher after Tuesday's post-inaugural rally: Live updates

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Traders work on the floor of the New York Stock Exchange on Jan. 15, 2025, in New York City.

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S&P 500 futures ticked higher Tuesday night after the first trading session post Inauguration Day ended with strong gains.

S&P 500 futures rose 0.18%, while Nasdaq 100 futures gained 0.45%. Dow Jones Industrial Average futures was flat.

President Donald Trump's comments in a press conference Tuesday evening were scrutinized by investors, after the president said he's considering a 10% tariff on China beginning as soon as Feb. 1.

Trump also announced a joint venture dubbed "Stargate," with OpenAI, Oracle and Softbank to invest "$500 billion, at least" in AI infrastructure in the United States. Shares of Oracle popped more than 3% in extended trading.

Netflix shares soared more than 14% in after hours trading after the streaming giant surpassed 300 million paid memberships. United Airlines gained more than 3% after the airline operator posted a rosy outlook and issued fourth-quarter results that surpassed expectations.

Wall Street is coming off a winning session. On Tuesday, the 30-stock Dow rallied more than 500 points, or 1.2%. The S&P 500 rose 0.9%, while the Nasdaq Composite rose 0.6%. On the other hand, Apple was a notable underperformer, dropping more than 3% on the back of two downgrades.

Those moves come after Trump's first-day comments around trade policy mostly assuaged traders who worried they'd be far more severe. The president said he is considering tariffs of 25% on imports from Mexico and Canada. He also mentioned a tax on imports from China, but stopped short of authorizing new tariffs.

"Today, it's been a relief, right, that we didn't get something stronger than we were expecting," Liz Young Thomas, SoFi head of investment strategy, said Tuesday on CNBC's "Closing Bell." However, she cautioned investors against complacency, as any future tariffs have the potential to spur retaliatory tariffs.

"There could be more announcements that come — if and when we decide that we are going to place tariffs on — that are more concrete," she continued. "Then you get this retaliation effect from other countries, and that drives a lot of the issues in markets."

Earnings season continues Wednesday, with reports from Procter & Gamble, Johnson & Johnson set to release. Halliburton and GE Vernova will also post results.

Trump says he’s considering a 10% tariff on China

President Donald Trump said that his team was discussing a 10% tariff on China and that the duty could take effect as early as Feb. 1.

"We're talking about a tariff of 10% on China based on the fact that they're sending fentanyl to Mexico and Canada," the president said, speaking to reporters at the White House on Tuesday evening.

"Probably Feb. 1 is the date we're looking at," he added.

— Darla Mercado

Here are the stocks making the biggest moves after hours

Check out the companies making headlines in extended trading.

Netflix — Shares soared more than 13% after the streaming giant surpassed 300 million paid memberships. Netflix also beat fourth-quarter expectations on the top and bottom lines, and it raised its revenue expectations for the full year 2025.

United Airlines — Shares popped more than 3% after United Airlines' fourth-quarter results came in better than expected. The airline operator posted adjusted earnings of $3.26 per share on revenues of $14.70 billion. Analysts surveyed by LSEG had expected per-share earnings of $3.00 on revenues of $14.47 billion. The company also issued a strong forecast for first-quarter earnings.

Read the full list here.

— Sarah Min

Trump says he's open to Elon Musk or Larry Ellison buying TikTok

President Donald Trump said he's open to Elon Musk or Oracle's Larry Ellison buying TikTok.

"I would be, if [Musk] wanted to buy it, yes," Trump said when asked if he'd be open to the Tesla CEO buying the social media company. "I'd like Larry [Ellison] to buy it, too."

"I have the right to make a deal," Trump continued. "What I'm thinking about saying to somebody is buy it, and give half to the United States of America. Half, and we'll give you the permit. And they'll have a great partner, the United States, and they'll have something that's actually more valuable because they have the ultimate partner — the United States."

— Sarah Min

Trump announces AI infrastructure investment backed by Oracle, OpenAI and Softbank

President Donald Trump on Tuesday announced a joint venture dubbed "Stargate," with OpenAI, Oracle and Softbank to invest $500 billion in artificial intelligence infrastructure in the United States.

"These world-leading technology giants are announcing the formation of Stargate. So, put that name down in your books, because I think you're going to hear a lot about it in the future," Trump said at the White House. "A new American company that will invest $500 billion, at least, in AI infrastructure in the United States."

OpenAI CEO Sam Altman, Oracle executive chairman Larry Ellison and SoftBank CEO Masayoshi Son were each in attendance.

Shares of Oracle jumped nearly 4% in extended trading.

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