The pick of Scott Bessent as Treasury secretary has changed the market's mood, says Kit Juckes, chief currency strategist at Societe Generale. Stock futures are up, and both bond yields and the dollar are down.

U.S. stocks are rising near records Monday and adding to last week’s gains. The S&P 500 was 0.4% higher, as of 11:30 a.m. Eastern time, and sitting a bit below its all-time high set two weeks ago. The Dow Jones Industrial Average added 353 points,

Former hedge fund manager Scott Bessent is seen as a steady hand to lead the Treasury Secretary with his deep market expertise.

Stocks closed higher on Wall Street, giving the market its fifth gain in a row and notching another record high for the Dow Jones Industrial Average.

Shares climbed in Asia on Monday, tracking last week’s gains on Wall Street, and analysts said investors were viewing President-elect Donald Trump’s choice of billionaire investor Scott Bessent as his nominee for Treasury secretary as a relatively market-friendly choice.

By Johann M Cherian and Purvi Agarwal (Reuters) -Dow contracts touched a record high on Monday and led gains among U.S. stock index futures, on investor optimism driven by Scott Bessent's nomination as Treasury Secretary in the incoming Trump administration.