Stock market today: Dow, S&P 500, Nasdaq jump after Trump picks Scott Bessent for Treasury

Published On Nov 25, 2024, 9:34 AM

U.S. stocks rose significantly on Monday following President-elect Donald Trump's appointment of Scott Bessent as Treasury Secretary. This news has generated optimism among investors, contributing to gains in major market indexes, including the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite. Additionally, attention is directed towards an upcoming inflation report, expected to provide insight into potential Federal Reserve actions. The appointment is seen as a stabilizing factor amid concerns regarding inflation and economic management under Trump's agenda.

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The positive stock market reaction to Trump's selection of Scott Bessent as Treasury Secretary indicates growing investor confidence. Bessent is viewed favorably in investor circles, likely paving the way for pro-business policies. This bodes well for key market sectors, notably financials and technology, as they traditionally benefit from a favorable economic and regulatory climate.

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