Positive. US stock futures rise as Trump picks Bessent for Treasury Secretary, market optimistic about economy.

From Investing.com: 2024-11-24 18:56:52

U.S. stock futures rose as Trump nominated Scott Bessent for Treasury Secretary. Markets favored cyclical stocks over tech. Reports of a potential ceasefire in Lebanon boosted sentiment. Key economic indicators this week to impact interest rates. S&P 500 up 0.4%, Dow up 0.4%, Nasdaq up 0.5%.

Bessent’s nomination eased market uncertainty. He supports tax reforms and deregulation, lessening trade war fears. Dollar fell 0.6% on news, Treasury yields dropped. Trump’s cabinet picks include China hawk for National Security Adviser. Wall Street optimistic, focusing on PCE data.

Investors shifted to cyclical stocks, away from tech on Friday. Dow led gains, S&P 500 and Nasdaq also rose. Trump’s policies boosting U.S. economy exposure. NVIDIA’s earnings outlook impacted tech stocks. PCE data in focus this week for Fed’s inflation gauge. Uncertainty over December rate cut.



Read more at Investing.com: US stock futures rise as Trump picks Bessent for Treasury role By Investing.com