The S&P 500 Index ($SPX) (SPY) Monday closed up +0.30%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.99%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.14%.
Stocks settled higher on Monday, with the S&P 500 and Dow Jones Industrials posting new all-time highs and the Nasdaq 100 posting a 1-week high. Stocks rallied, and government bond yields fell Monday 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.
