Trump taps Bessent, Macy's delays earnings, PCE

It's the first day of this shortened trading week — for Thanksgiving — and stock futures are already buzzing on President-elect Donald Trump's decision to nominate Scott Bessent as the US Treasury secretary.

Seana Smith and Brad Smith tackle several of this morning's biggest market stories ahead of the opening bell.

Takeaway:

• President-elect Donald Trump has pushed forward a nomination for Key Square Group Founder and CEO Scott Bessent to be the next US Secretary of the Treasury in his Cabinet. US stock futures (ES=F, NQ=F, YM=F) are reacting positively to this news Monday morning.
• Department store Macy's (M) is delaying the release of its third quarter earnings report after it was discovered an employee hid up to $154 million in expenses for the retailer.
• The Personal Consumption Expenditures (PCE) index — the Federal Reserve's preferred inflation gauge — is due out this Wednesday, November 27, alongside the central bank's November meeting minutes for this week.

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Yahoo Finance's Morning Brief is hosted by Seana Smith and Brad Smith.

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