Stocks Rise as Trump Nominates Scott Bessent for Treasury Secretary

US stocks surged after President-elect Trump nominated Scott Bessent for Treasury Secretary, boosting investor sentiment. Expectations for a favorable inflation report and a drop in the 10-year Treasury yield to 4.36% also helped ease concerns about Trump’s economic policies.

Bessent, seen as the “investor favorite,” was chosen after a lengthy nomination process, with markets continuing to climb ahead of a shortened holiday week.