US stock futures rose Monday, with investors reacting positively to the news that President-elect Donald Trump has selected Scott Bessent as his Treasury Secretary, the Wall Street Journal reports.
The announcement saw futures for the Dow Jones Industrial Average, Nasdaq-100, and S&P 500 all edge higher, reflecting investor optimism. Bonds rallied as Treasury yields declined, with the 10-year yield hovering around 4.35%, down from over 4.4% on Friday.
Bessent, a longtime investor, is seen as a steady and pragmatic choice for the role. His policy priorities are expected to center on fulfilling Trump’s tax-cut pledges and maintaining a disciplined approach to government spending. While some view him as more balanced on tariffs, his appointment is largely interpreted as a positive for the economy, with the potential to steer policies toward growth-oriented issues, according to Jan von Gerich, chief analyst at Nordea.
In other market news, the US dollar weakened, with the WSJ Dollar Index falling 0.33%, after reaching a two-year high last week. Bitcoin remained strong, trading above $98,000, just below the $100,000 mark it approached last week.
Overseas markets also saw gains. Japan’s Nikkei 225 climbed 1.3%, while European stocks traded higher. In contrast, Chinese stock indices experienced modest declines.
