Wall Street's major market indices have kicked off the holiday-shortened trading week on a positive note as investors and traders process the latest developments surrounding President-elect Donald Trump's appointment of Scott Bessent as Treasury Secretary.

As the day progresses, the financial community has seen a positive shift in the blue-chip Dow (DJI) as the index advanced 0.8%. At the same time, the benchmark S&P 500 (SP500) has climbed up 0.4%, and the tech-focused Nasdaq Composite (COMP:IND) pushed up 0.6%.

From a sector-by-sector point of view, eight of the 11 S&P sectors find themselves moving higher with Consumer Discretionary and Real Estate leading the charge. In reverse, the worst performing sector on Wall Street so far has been the Energy sector.

U.S. Treasury yields have taken a leg lower to start the week with the shorter end more rate sensitive U.S. 2-Year Treasury yield (US2Y) down by 7 basis points to 4.30% and the longer end U.S. 10-Year Treasury yield (US10Y) down 11 basis points to 4.29%.

For more, see how Treasury yields have done across the curve on the Seeking Alpha bond page.

As Bitcoin (BTC-USD) continues to flirt with the $100K level, it was noted in a filing on Monday that MicroStrategy (MSTR) bought ~55,500 more bitcoins for ~$5.4B in the week of Nov. 18-24, a ~17% increase in its bitcoin holdings.

On Friday, after the U.S. market closed, media reports said that, President-elect Donald Trump will nominate hedge fund manager Scott Bessent to head up the Treasury Department under his new administration.

"Markets reacted positively to Trump nominating the financier Bessent as treasury secretary. Investors prefer orthodoxy, predictability, and coherence from economic policy; there were fears that some of the candidates may not possess those attributes. Bessent does," UBS' Paul Donovan said.

On the economic calendar, The Chicago Fed national activity index sank deeper into the red in October. Furthermore, the November Dallas Fed Manufacturing Survey arrived at -2.7 versus the -3.9 consensus and -3.0 prior levels.

Wall Street will have a shortened trading week due to the Thanksgiving holiday on Thursday, with markets also closing early on Friday.