The S&P 500 Index ($SPX) (SPY) today is up +0.40%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.87%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.32%.
Stocks are moving higher today, with the S&P 500 and Dow Jones Industrials posting new all-time highs and the Nasdaq 100 climbing to a 1-week high. Stocks and government bonds are rallying today on optimism that President-elect Trump's pick of Scott Bessent, a former hedge fund manager, for US Treasury Secretary will bring a Wall Street mindset to the role and ease concerns over Trump's inflationary agenda of lower taxes and higher tariffs. Bessent has indicated he'll back Trump's policies, but his background as a fiscal hawk signals that he will prioritize economic and market stability and lower deficits.
