Major stock equities in New York City traded higher during premarket hours on Tuesday after Donald Trump was sworn in for another presidential term.

Wall Street markets seemed to respond positively to Trump's inaugural address, where he announced the potential implementation of 25% tariff on goods from Mexico and Canada starting next month. Investors will also be closely watching the World Economic Forum in Davos and corporate earnings, with Netflix, United Airlines, and 3M expected to post their results today.

The Dow Jones Industrial Average rose 0.27% or 121 points at 4:21 am ET. The Nasdaq 100 climbed 0.36% and the S&P 500 added 0.30%. The euro dropped 0.53% versus the dollar, changing hands for 1.03637.