The benchmark Wall Street indices opened higher on Monday, in the first session following US President-elect Donald Trump’s disclosure of Scott Bessent as his pick for the treasury secretary.
The broader index, S&P 500, rose 0.4% to 5,992.28 at the opening bell, whereas the tech-heavy Nasdaq was up 0.7% at 19,140.59 as the US stock market commenced trading.
The 30-stock Dow Jones Industrial Average climbed marginally by 88.98 points to 44,385.49. However, minutes into the trade, it rose by 1% to 44,730.88.
All S&P 500 sectoral indices, barring energy, were edging higher as Wall Street kicked off trade. The major gainers were consumer discretionary and telecom, up by 1.8% and 1.4%, respectively.
Among the early gainers were General Motors Co. and Intel Corp., which rose 2.39% and 2.45%, respectively. The major drags in the early period of trading were Nvidia Inc., which plunged 2.84%, and Lockheed Martin Corp., which slipped 2.5%.
