08:47 AM EST, 01/21/2025 (MT Newswires) -- Traders drove up equity futures in Tuesday's premarket in the first trading session following the inauguration of President Donald Trump.

Dow Jones Industrial Average futures, S&P 500 futures and Nasdaq futures were up 0.4%.

Oil prices slid, with the front-month global benchmark North Sea Brent crude down 1.7% to $78.83 per barrel and US West Texas Intermediate crude down 2.4% to $75.99 per barrel.

The price drop followed Trump's first-day executive orders invoking a national energy emergency meant to clear away hurdles to increased domestic energy exploration and production.

"The inflation crisis was caused by massive overspending and escalating energy prices," Trump said in his inaugural address. "We will drill, baby, drill."

Around the world, Asian stock markets mostly advanced, with Japan's Nikkei 225 up 0.3%, Hong Kong's Hang Seng rising 0.9%, and China's Shanghai Composite finishing down less than 0.1%.

European bourses slid, with the UK's FTSE 100 down less than 0.1%, and Germany's DAX down less than 0.1% in the early afternoon session.

In equities, shares of Innovate (VATE) advanced 44% pre-bell following news Friday that the US Food and Drug Administration has approved its MediBeacon platform for the assessment of kidney function.

Shares of chip stocks Nvidia ( NVDA ) and Intel ( INTC ) were also gaining following Trump's decision to rescind executive orders to place limits on AI technologies. Tesla (TSLA) advanced more than 1% a day after Chief Executive Elon Musk's headline-grabbing visibility at inauguration events.

Among losers, shares of Trump Media and Technology Group ( DJT ) fell 6% pre-bell after surging in days before its namesake's ascendance to the presidency.

A quiet economic news calendar on Tuesday and Wednesday of this week precedes market-moving reports Thursday and Friday on jobless claims, existing home sales, consumer sentiment, and manufacturing.