U.S. stock futures are rising as investors cheer President-elect Donald Trump’s selection of Scott Bessent for Treasury Secretary. Futures are 0.6% higher, while other indices are up by similar percentages. This early surge comes ahead of the Thanksgiving holiday.
Investors continue to monitor bitcoin price levels as the largest cryptocurrency holds steady near $98,000. Since Trump’s presidential election victory on Nov. 5, bitcoin has surged around 40%.
Year to date, it has soared about 130%. Meanwhile, MicroStrategy stock is also benefiting, rising 6% in premarket trading due to its strategy of purchasing bitcoin.
U.S. stock futures climb
Shares of Super Micro Computer are up more than 6% in premarket trading after the company implemented a compliance plan to meet Nasdaq filing requirements. With support from partner Nvidia, Super Micro shares have soared roughly 80% since mid-November but still remain down from March highs due to past regulatory issues and filing delays. Peabody Energy stock is 3% lower in premarket trading after announcing it will purchase nearly $3.8 billion worth of steelmaking coal assets in Australia from rival mining giant Anglo American.
The acquisition aims to help Peabody cater to increased demand from Asia. The news has lifted Anglo American’s stock by almost 2%. Rocket Lab USA stock is jumping 9% in premarket trading after announcing two successful launches within 24 hours.
The company launched five satellites for French Internet-of-Things operator Kinéis from New Zealand, followed by another launch from its Virginia facility. Additionally, Rocket Lab disclosed receiving a $23.9 million government grant to expand its semiconductor manufacturing capability in Albuquerque, N.M.
