Dow hits record high on optimism from Trump's Treasury Secretary pick

From Investing.com: 2024-11-25 16:05:30

The Dow closed at a record high Monday as investors welcomed Scott Bessent’s nomination as Treasury Secretary by President-elect Donald Trump. The index rose 1% to close at 44,736.57, with the S&P 500 and Nasdaq also posting gains. Bessent’s nomination helped ease uncertainty in the markets, with his pro-tax reform and deregulation stance signaling a business-friendly approach. Wall Street also reacted positively to reports of a potential ceasefire between Israel and Hezbollah. This week, all eyes are on the upcoming PCE data, a key inflation gauge for the Federal Reserve.

Retailers are in focus ahead of the holiday season, with Bath & Body Works raising its full-year guidance after strong third-quarter results. Meanwhile, Macy’s stock slipped after a delay in its third-quarter filing and disappointing sales. Intel Corporation saw a 1% rise after news of a potential $8B grant from the Commerce Department, while Lattice Semiconductor considers an offer for Intel’s Altera unit. Market updates by Investing.com.



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