Monday brought a broad advance as investors cheered Trump’s decision to nominate Bessent, the founder of Key Square Group. The Russell 2000 jumped 1.47% and surpassed a prior all-time high set in 2021 at session highs. More than 3 out of every 4 S&P 500 stocks traded higher in the session.

With Scott Bessent, consumers eyeing prices and interest rates are getting a Treasury Secretary pick who is deeply aware of the big-picture forces pushing and pulling those everyday costs, experts say.