Dow and S&P 500 Hit Record Highs Amid Treasury Pick Optimism

U.S. stock markets closed at record highs as investors reacted positively to President-elect Donald Trump's nomination of Scott Bessent as Treasury Secretary. The Dow Jones Industrial Average and S&P 500 both reached new peaks, while the Russell 2000 also hit a record high. Bessent, a respected hedge fund manager, is expected to influence Trump's economic policies, including fiscal strategies and trade negotiations. The announcement also impacted bond markets, with strong demand for 2-year Treasury notes. Meanwhile, Macy's shares fell due to an accounting investigation.