U.S. stocks surged on Monday, with major indices reaching new milestones amid optimism surrounding President-elect Donald Trump’s nomination of Scott Bessent as Treasury Secretary. Investors anticipate that Bessent, a seasoned hedge fund manager and founder of Key Square Group, will balance economic growth with inflation control.

• Dow Jones Industrial Average: Rose 440.06 points (+0.99%) to 44,736.57, a new record close.
• S&P 500: Gained 0.3%, closing at 5,987.37, also a record high.
• Nasdaq Composite: Increased 0.27%, finishing at 19,054.84.
• Russell 2000: Jumped 1.47%, surpassing its previous all-time high from 2021.

The market rally extended the postelection gains, driven by expectations that Bessent’s approach will support pro-business policies while tempering protectionist measures, such as high import tariffs.

Treasury yields fell, with the 10-year yield dropping over 14 basis points, reflecting a pullback in the U.S. dollar index and a positive investor response. Meanwhile, big technology stocks showed mixed performance; Amazon and Alphabet advanced, but Nvidia and Netflix retreated.

Looking ahead, trading volumes are expected to be light due to the Thanksgiving holiday. Key data releases include October’s personal consumption expenditure price index and the Federal Reserve’s policy meeting minutes, both due Wednesday.