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

Published On Nov 25, 2024, 9:34 AM

US stock markets saw a boost today following President-elect Donald Trump's selection of Scott Bessent as Treasury Secretary. Investors are optimistic about Bessent's appointment, viewing him as the favorite among investors, which has helped to calm concerns regarding inflation. The Dow Jones Industrial Average rose about 250 points, while both the S&P 500 and Nasdaq also saw gains. This positive market sentiment comes as traders await the release of crucial inflation data later this week that could impact Federal Reserve policy.

Read full article

Stock Forecasts

SPYView SPY chart on TradingView

Positive

The appointment of Scott Bessent is likely to foster investor confidence leading to a bullish outlook for the broader market as concerns about inflationary policies may ease. Additionally, the approaching PCE index report could further influence market dynamics. Overall, current sentiments suggest continued upward momentum in major indices.

Related News

Stock futures are flat Sunday ahead of shortened trading week: Live updates

Nov 24, 2024, 6:04 PM

SPY

Why Elon Musk thinks 'impoundment' could be the key to making his DOGE ideas a reality

Nov 24, 2024, 9:01 AM

Political and economic observers might want to familiarize themselves with the wonky concept of 'impoundment.' Donald Trump (and 'first buddy' Elon Musk) could make it front and center in 2025.

SPY

Fed's preferred inflation gauge highlights holiday-shortened trading week: What to know this week

Nov 24, 2024, 7:28 AM

Investors will be closely watching a fresh reading on inflation for clues on the Fed's interest rate-cutting path.

SPY