Advertisment
The Dow Jones Industrial Average and S&P 500 touched new records on Monday as investors cheered President-elect Donald Trump’s choice for Treasury secretary and the shortened Thanksgiving trading week kicked off.
The 30-stock index rocketed 417.44 points, or 1%, to 44,722.10.
The much-broader index gathered 26.11 points to 5,995.45.
The NASDAQ Composite vaulted 63.05 points to 19,066.71.
Monday brought a broad market rally as investors cheered Trump’s plan to nominate Key Square Group founder Scott Bessent as Treasury secretary. More than 450 S&P 500 stocks traded higher in the session.
Bath & Body Works jumped more than 18% after besting expectations of analysts polled by LSEG on both lines. Nordstrom, Best Buy, CrowdStrike and Dell Technologies are among well-known companies posting earnings results on Tuesday.
Prices for the 10-year Treasury popped, lowering yields to 4.30% from Friday’s 4.42%. Treasury prices and yields move in opposite directions.
Oil prices flopped $1.38 to $69.86 U.S. a barrel.
Prices for gold swooned $76.40 an ounce to $2,635.90U.S.
