In a positive day for US stocks (^DJI, ^IXIC, ^GSPC), the Russell 2000 small-cap index (^RUT) broke to a record high above 2,450, the index's first record close since 2021. The Dow Jones Industrial Average also closed at a new record high in this session.

Market Domination Overtime host Julie Hyman and Yahoo Finance markets and data editor Jared Blikre recap the day's market reactions to President-elect Donald Trump's nomination of Scott Bessent to his incoming Cabinet's Treasury secretary role.

To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.

This post was written by Luke Carberry Mogan.