Trump inauguration updates: Trump takes victory lap at at Make America Great Again Rally

Elon Musk, co-director of Trump's DOGE initiative to dismantle parts of the federal government, stuttered a bit when he was invited onstage to discuss the program's plans.

"What matters going forward is to actually make significant changes, cement those changes and set the foundation for America to be strong for a century, for centuries, forever," said Musk, dressed in a black overcoat and tie that was dressier than his typical attire.

"This victory is the start, really," he said.

Trump repeated several of his campaign lines on immigration, including the unfounded claim that foreign governments are "emptying" their prisons, jails or mental institutions into the U.S.

He said the press excoriated him during the campaign for repeatedly bringing up the fictitious character Hannibal Lecter but suggested some of the immigrants living in the U.S. "are probably worse."

The crowd applauded as he teased plans for mass deportation, without going into detail.

"As of today, TikTok is back," Trump said to loud applause at a pre-inaugural rally in Washington. Trump credited TikTok with helping him perform much better with young voters than Republicans have historically.

"Frankly, we have no choice. We have to save it. A lot of jobs. We don't want to give our business to China. We don't want to give our business to other people."

Trump suggested he would use his leverage to seek a joint venture in which the U.S. government owns half of the company without putting up any money.

"So whether you like TikTok or not, we're going to make a lot of money," Trump said.

Trump took credit for the first hostages being released from Gaza, rebuffing Biden, who has also taken credit for the deal.

"We achieved more without being president than they achieved in four years with being president," Trump said, dwelling on the moment.

He also boasted about the economic outlook.

Since the election, "the stock market has surged" and "Bitcoin has shattered one record high after another," Trump says.