NEW YORK — U.S. stocks are rallying toward records and adding to last week’s gains. The S&P 500 was 0.7% higher early Monday and set to top its all-time high set two weeks ago. The Dow Jones Industrial Average added 401 points, or 0.9%, to its own record set on Friday. The Nasdaq composite was 0.8% higher. Treasury yields eased after President-elect Donald Trump said he wants Scott Bessent, a hedge fund manager, to be his Treasury Secretary. Bessent has advocated for reducing the U.S.
In China, shares fell further, with the Shanghai Composite index edging 0.1% lower, to 3,263.76 and the Hang Seng in Hong Kong falling 0.4% to 19,150.99. India's Sensex gained 1.1% as hundreds of supporters of the main opposition party protested against billionaire Gautam Adani, who was recently indicted in the U.S. for alleged fraud and bribery. Activists are demanding the arrests of Adani and oher associates named in the case. The Adani group has denied wrongdoing. Shares in Adani Enterprises gained 4.1%.
Markets have swung widely since the U.S. elections in November, and Trump's choices to head Treasury and other key positions that influence economic and financial policies were among the factors overhanging investor sentiment. Investors are watching for signs of some moderation in Trump's stance toward tariffs and other policies that might affect business both at home and overseas.
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