Market Optimism Surges with Scott Bessent's Treasury Appointment

Market indicators climbed as Scott Bessent was appointed U.S. Treasury Secretary. Investors trust his market-friendly stance, boosting bond markets and stock futures, while easing the dollar. With Thanksgiving approaching, light trading is expected. Plans for gradual tariffs and tax reforms are anticipated to spur economic growth.

Markets reacted positively on Monday to the appointment of Scott Bessent as the next U.S. Treasury Secretary, with bond yields rising and stock futures experiencing gains.

Investors believe Bessent, a seasoned fund manager, represents a stabilizing force, leading to eased concerns of unconventional policy choices.

His past advocacy for gradual tariff implementation and economic policies aligned with industry growth further bolstered investor confidence.

(With inputs from agencies.)