Stefani Reynolds | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. This time, it's revved up by Trump's Treasury secretary pick — Scott Bessent. "I would recommend that tariffs be layered in gradually," Bessent told CNBC earlier this month before his nomination. Small-cap stocks performed even better, probably because Bessent has expressed support for Trump's economic agenda, which would benefit smaller, domestically oriented companies.

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Persons: SPX, Scott Bessent, Stefani Reynolds, it's, — Scott Bessent, Bessent, —, Russell, Quincy Krosby, Alex Harring, Hakyung Kim Organizations: Key, Bloomberg, Getty, CNBC, Group, Trump, Dow Jones, Nasdaq, Treasury, LPL Locations: Washington , DC, U.S