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.

US stocks closed strong after Trump took office on Monday and seemed to soften his stance on tariffs. Dow and S&P 500 ended at highest since Dec.

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.