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.
Stock Forecasts
SPY
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.
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