The holiday-shortened week started off with a bang, with all three major benchmarks logging solid wins. The Dow and S&P 500 both hit new record highs, the blue-chip logged a fourth straight win after popping more than 440 points. Today's surge was helped by President-elect Donald Trump's latest cabinet pick.

Trump's pick for Treasury Secretary, hedge fund manager Scott Bessent, helped small-cap stocks surge once more, leading the Russell 2000 Index (RUT) to new all-time highs. In addition, Treasury yields and the U.S. dollar both pulled back, the former dropping more than 14 basis points.

OIL, GOLD PRICES PULLBACK ON GLOBAL CONFLICT UPDATES

After spiking last week, oil futures pulled back Monday as investors reacted to more nuclear threats from Russia. For the session, front-month January-dated West Texas Intermediate (WTI) crude fell $2.30, or 3.2%, to settle at $68.94 per barrel.

Gold prices are lower at last glance, on track to snap a five-day winning streak on reports of the Israel-Hezbollah ceasefire. Gold for December delivery was last seen 3.4% lower near $2,620.80 an ounce.

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