US stocks were mostly higher Monday, with the Dow Jones Industrial Average (^DJI) touching intraday record highs amid optimism over President-elect Donald Trump’s choice of Scott Bessent for Treasury secretary. Investors also looked ahead for a price check in the form of a Federal Reserve-favored inflation print.
The Dow rose 0.7%, or about 300 points. The S&P 500 (^GSPC) rose 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) hovered near the flatline, weighed by shares of Nvidia (NVDA) sliding 3%.
Stocks kicked off a holiday-shortened week with more of the upbeat mood that lifted the gauges to weekly wins. Markets will shut on Thursday for the Thanksgiving holiday and close early on Friday. The Dow closed last week at a record high, gaining almost 2% on the week. The Nasdaq and S&P 500 were both up over 1.5% as they crept closer to the initial levels seen after the election.
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