After hitting a new intraday record, the Dow also reached a new all-time close.
At 4:05 p.m. ET, the Dow closed up 440 points (0.99%) to 44,736, down from its intraday record of 44,815. The S&P 500 closed at 5,987 (+0.%30) down from its intraday record of 6,020. The Nasdaq closed up 0.27%.
The small cap-focused $Russell 2000 Index (.RUT.US)$ increased 1.7%, surpassing its previous all-time high from 2021. Almost 4 out of 5 S&P 500 stocks traded higher .
Monday's rally came on the news of President-elect Trump's selection for U.S. Treasury secretary, Scott Bessent. The hedge fund founder is viewed as being a supporter to the equity markets.
Set against this quiet trading week, investors will await the personal consumption expenditure price index release on Wednesday and the minutes from the Fed’s recent policy meeting on Friday.
After the bell, Zoom, Agilent, and Semtec release earnings.
