Stock index futures rose on Monday, as investors assessed Donald Trump’s pick of Scott Bessent as the Treasury Secretary.

S&P 500 futures (SPX) +0.5%, Nasdaq 100 futures (US100:IND) +0.5%, and Dow futures (INDU) +0.7%.

The 10-year Treasury yield (US10Y) fell 5 basis points to 4.35%. The 2-year yield (US2Y) down 3 basis points to 4.35%.

Wall Street's major equity averages finished higher Friday, with consumer-related stocks and so-called Trump Trades among advancers, and ended with weekly gains.

"Equities generally had a better time across the board, with the S&P 500 recovering from the previous week’s losses with a +1.68% advance," Deutsche Bank's Jim Reid said.

On Friday, after the U.S. market close, media reports said that, President-elect Donald Trump will nominate hedge fund manager Scott Bessent to head up the Treasury Department under his new administration.

"Markets reacted positively to Trump nominating the financier Bessent as treasury secretary. Investors prefer orthodoxy, predictability, and coherence from economic policy; there were fears that some of the candidates may not possess those attributes. Bessent does," UBS' Paul Donovan said.

Bessent has said he regards taxing U.S. consumers via trade tariffs as a bargaining tool—essentially the stance in Trump’s first term. Others in the cabinet disagree, but investors will be pleased there is one voice of trade tax moderation, Donovan added.

The economic calendar is light on Monday, with the October Chicago Fed national activity index and the November Dallas Fed manufacturing survey on tap.

U.S. markets will be closed on Thursday for the Thanksgiving holiday, and will close early on Friday.