Scott Bessent hire lifts US futures- Dow Jones set for a record opening later today

The move over the weekend by the US President elect to pick the hedge fund manager, Scott Bessent as his Treasury Secretary has boosted the US stock market futures today. Bessent has indicated he will back Trump on his corporate tax cut and trade tariff plans. This hire has therefore impacted the US bond markets. As noted here earlier today yields are falling back and US equity futures are rising. That is because of the prospect that US corporation tax will be slashed. Previously  Trump vowed to cut that to 15%, from the current level at 21%. So, the US stock markets are set to open higher later today for that very reason. The Dow Jones was the best performing major US stock market index on Friday, when it gained 426 points, closing 0.97% higher, at 44,296. The index futures are higher this morning too and right now pricing a new record opening for later today. The current all time record high for the index stands at 44,486. The index is currently priced to reopen at around 44,535. So, unless anything drastic happens this morning, it looks like new records soon for the Dow Jones this afternoon