Global stocks saw slight gains amid volatile trading as markets awaited more appointments in the incoming Trump administration.
Investors are particularly focused on President-elect Trump’s choice for Treasury secretary. The potential candidates now include Marc Rowan of Apollo Global Management and former Federal Reserve Governor Kevin Warsh.
Market expectations are forming around possible tariffs and tax cuts from the Trump administration. These could lead to higher inflation and limit interest rate cuts by the Federal Reserve. The yield on the benchmark U.S. 10-year notes declined by 4.1 basis points to 4.373%.
Gaining ground
The S&P 500 and Nasdaq experienced gains, driven by technology stocks, even as sectors like materials, energy, and healthcare lagged. Nvidia is set to report earnings on Wednesday.
The Dow Jones fell by 0.40% to 43,217.01, while the S&P 500 rose by 0.03% to 5,895.43, and the Nasdaq increased by 0.38% to 18,863.40.
