How are stock-index futures trading:
Dow Jones Industrial Average futures increased 270 points, or 0.61%, to 44,665
S&P 500 futures increased 26 points, or 0.43%, to 6,014
Nasdaq 100 futures increased 111 points, or 0.53%, to 20,961
On Friday, the Dow Jones Industrial Average rose 426 points, or 0.97%, to 44297, the S&P 500 increased 21 points, or 0.35%, to 5969, and the Nasdaq Composite gained 31 points, or 0.16%, to 19004.
Stock futures increased on Monday in the wake of Donald Trump’s decision to pick hedge fund manager Scott Bessent as his new Treasury Secretary.
Bessent, a key economic advisor to Trump’s campaign who was previously a partner at Soros Fund Management, is expected to take a markets-friendly approach to the job, focused on boosting energy production, cutting the deficit and slashing regulation.
Bessent has signaled he may push Trump towards taking a softer approach to policies that might shock financial markets, in suggesting the new government would be open to negotiations on tariffs.
“Bessent is unanimously viewed as the voice of reason choice across the spectrum. Everyone from Steve Bannon to Jamie Dimon to Jason Furman to Dan Loeb approves,” said Brent Donnelly, president of Spectra Markets.
Japan’s Nikkei 225 index and Korea’s KOSPI index both increased in Monday’s trading session on the back of news of Trump’s treasury secretary pick and fresh data showing strong economic growth in the U.S. economy.
Zoom Video Communications is also set to publish its third-quarter results.