‘A safe pair of hands’: Why markets are loving Trump treasury secretary pick Scott Bessent

In a sea of controversial choices for the incoming administration, the president-elect’s choice for treasury head is being welcomed on Wall Street with open arms.

In a sea of controversial choices for his second term, President-elect Donald Trump’s expected pick to head the treasury, Scott Bessent, is being welcomed by Wall Street with open arms as financial markets rallied Monday on the news. The euro rose 1% and Canada’s main stock index hit a record high, while the S&P 500 gained 0.2% in midday trading, the Dow Jones Industrial Average was up .7%, and the Nasdaq Composite index climbed .2%.