Stocks rise on Trump's Treasury Secretary nomination, T-notes rally

From Nasdaq: 2024-11-25 12:40:01

Stocks in the US are up today, with the S&P 500, Dow Jones, and Nasdaq all posting gains. Optimism surrounds President-elect Trump’s pick for US Treasury Secretary, Scott Bessent, a former hedge fund manager. Economic data indicates a rate cut probability of 56% at the December FOMC meeting.

Overseas markets show mixed results, with Euro Stoxx 50 up and China’s Shanghai Composite down. Interest rates are lower, with T-notes rallying after Bessent’s nomination. European government bond yields are also dropping, with expectations of an ECB rate cut in December.

Homebuilding and healthcare stocks are surging, with companies like DR Horton and UnitedHealth Group leading the gains. Rocket Lab USA and Bath & Body Works are also up after positive news. On the other hand, companies like Nvidia, Macy’s, and Newmont are facing losses today.

Earnings reports for today include Agilent Technologies, Bath & Body Works, and Zoom Video Communications. Rich Asplund did not have any positions in the mentioned securities. The information provided is for informational purposes only.



Read more at Nasdaq: Stocks and Bonds Rally as Trump Nominates Bessent for Treasury Secretary