The Dow and S&P 500 reached all-time highs, while the dollar weakened on Monday following the news that President-elect Donald Trump has tapped Wall Street’s Scott Bessent to be his next Treasury Secretary.

Donald Trump’s decisions continue to affect the US economy and politics, if not the World. Trump has been on a path to form a cabinet with the most interesting czars in America. The 47th POTUS has announced his nomination for the Treasury Secretary office as Scott Bessent.

The dollar fell and US government bonds rallied after Donald Trump picked Scott Bessent to run the Treasury, a Wall Street veteran who investors expect will take the sting out of the administration’s more aggressive trade and economic policy proposals.