Dow Jones Industrial Average finds new record highs on peace talks and Trump picks

The Dow Jones tapped a new all-time high bid just shy of 44,800 on Monday.

Equity markets are pivoting broadly bullish after Trump signals his Treasury pick.

Market rumors are swirling that Middle East peace talks could find a resolution soon.

The Dow Jones Industrial Average (DJIA) lurched into the high side on Monday, kicking the new trading week off with a fresh record high just a hair below the 44,800 handle. Investors bid up stock prices on rumors that the ongoing conflict between Israel and Hezbollah in Lebanon may have a ceasefire deal on the table. Closer to home, investors turned further bullish after pending president-elect Donald Trump tapped Scott Bessent as his future Treasury secretary when he returns to the White House in January. 

Despite US officials dampening expectations and noting that a ceasefire deal hasn't been officially reached, markets are still optimistic that the geopolitical situation in the Middle East might stabilize later this week. According to an X (née Twitter) post from an AXIOS reporter, A US-proposed truce between Israel and Lebanon that would see Israeli troops withdraw from South Lebanon is set to be voted on, and presumably approved, by both sides in the coming days. Despite an overall uptick in investor sentiment on the prospect of cooling Middle East instability, Crude Oil markets took a hard hit on the news, with West Texas Intermediate (WTI) US Crude Oil backsliding nearly 3% on Monday to $69/barrel.