4 sources·Business

Dow Jones Hits All-Time High Following Bessent's Treasury Secretary Nomination

Stocks surged on Wall Street, with the Dow hitting a record high after Scott Bessent was nominated as Treasury Secretary by President-elect Trump.

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Updated: Nov 25th, 2024, 6:58 PM ET

Summary

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The Dow Jones Industrial Average closed up 440 points to a new record after President-elect Trump nominated Scott Bessent as Treasury Secretary. Investors are optimistic about Bessent's ability to guide economic policy without inciting inflation fears. The S&P 500 and small-cap Russell 2000 also reached new highs, reflecting confidence in future fiscal measures. Treasury yields declined, while concerns about inflation and tariff policies remain. The markets are expected to monitor inflation data closely during the upcoming holiday-shortened trading week.

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