December S&P 500 E-Mini futures (ESZ24) are up +0.45%, and December Nasdaq 100 E-Mini futures (NQZ24) are up +0.57% this morning as investors welcomed Scott Bessent’s nomination as U.S. Treasury Secretary, while also awaiting the publication of the minutes of the Federal Reserve’s latest policy meeting as well as the release of the Fed’s favorite inflation gauge and other key economic data later in the week.
Market participants viewed Donald Trump’s selection of Scott Bessent as Treasury Secretary as a prudent choice that could bring greater stability to the U.S. economy and financial markets. Bessent, the head of macro hedge fund Key Square Group, has signaled support for Trump’s tariff and tax cut plans, but investors anticipate he will prioritize economic and market stability over pursuing political gains.
