The U.S. stock market experienced gains with the Dow Jones Industrial Average rising sharply. It reached an intraday high of 44,815 points, a significant increase. The S&P 500 index also hit a new peak, surpassing the 6,000-point mark. The Russell 2000 Index set a new record, exceeding its previous high in 2021.
Investors are optimistic about the economic policies of President-elect Donald Trump, particularly his choice of Scott Bessent as the Treasury Secretary. Bessent's approach, which includes gradual tariff implementation and anti-inflation measures, is expected to stimulate economic growth without increasing inflation. His strategies aim to keep U.S. inflation at or below the 2% target.
Several Dow component stocks experienced gains between 2% and 3%, including Caterpillar (CAT, Financial), Nike (NKE), McDonald's (MCD), and Amazon (AMZN). Despite the positive performance of the Dow, the Nasdaq lagged behind, with a modest increase of 0.2%. Stocks like NVIDIA (NVDA) and Netflix (NFLX) declined by more than 3%, while Tesla (TSLA) dropped over 1%.
