Stocks in Asia are poised to extend Monday’s gains as Donald Trump’s pick of Scott Bessent for Treasury Secretary lifted US bonds and shares, with traders betting the hedge-fund manager will bring a Wall Street mindset to the role.
-- Stocks closed at all-time highs as investors looked past Donald Trump’s tariff plan, with geopolitical risks abating after Israel and Hezbollah reached a cease-fire agreement.
To Dennis DeBusschere at 22V Research, Trump linking tariffs to drugs and immigration, rather than trade policy and economics signaled to investors that this announcement is a negotiating tactic, not a policy tool. Stocks resumed their post-election upward trajectory last week and the S&P 500 has since posted moderate gains. Overall, turnover however has been relatively muted in both cash and futures trading ahead of the Thanksgiving holiday on Thursday.
Meantime, Bank of America Corp.’s Savita Subramanian is counting on another year of double-digit gains for the S&P 500 in 2025 — but says even better opportunities are present in individual stocks outside the benchmark.
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