Stock futures witnessed a complex movement during overnight trading on Monday. The Dow Jones Industrial Average had closed at a new record, yet futures tied to it slipped 144 points or 0.3%. S&P 500 futures fell by 0.4%, and Nasdaq 100 futures dropped 0.5%. This shift in futures prices indicated potential uncertainties in the market.

CEO Resignations and Market Reactions

Kohl’s, a prominent retail company, saw its shares drop more than 4% in overnight trading after announcing that its CEO would be stepping down in January. This news had a significant impact on the stock’s performance, highlighting the sensitivity of the market to such leadership changes.

Impact of Trump's Tariff Announcements

President-elect Donald Trump’s call for a 25% tariff on products from Mexico and Canada, along with an additional 10% levy on Chinese goods, sent ripples through the market. He had already proposed imposing a tariff of up to 20% on all imports and an additional duty of at least 60% on Chinese products. These tariff announcements raised concerns among investors about the potential impact on global trade and the economy.During regular trading, the 30-stock Dow popped roughly 440 points or about 1% to a new record close. The S&P 500 gained 0.3% to notch a new all-time intraday high, while the Nasdaq Composite edged up about 0.3%. The Russell 2000 hit a new intraday high, its first record since 2021, as investors piled into small caps. This rally in stocks was fueled by President-elect Donald Trump’s new Treasury secretary pick, which helped refuel the belief that the post-Trump election rally was back in full gear following a brief breather.

Treasury Yields and Market Sentiment

Treasury yields fell as investors lauded the choice of Key Square Group founder Scott Bessent to lead the Treasury department. Many investors view the hedge fund manager as a champion of financial markets and the economy given his background, and as someone who could potentially counteract some of Trump’s aggressive trade aspirations. “These policies may take more time to play through into the market actually get enacted,” NewEdge chief investment officer Cameron Dawson told CNBC’s “Closing Bell” on Monday of potential new policies from the Treasury pick. “It’s definitely a question mark of how much impact he can have in the short run as we round the year.”The U.S. market is closed Thursday for the Thanksgiving holiday and set to close early Friday, with volume expected to remain light. Ahead of the holiday, investors are looking ahead to October’s personal consumption expenditure price index.

Rumble's Bitcoin Treasury Strategy

Rumble, a video platform focused on conservatives, announced on Monday evening that it will begin allocating a portion of its excess cash reserves to bitcoin and making purchases of up to $20 million in the cryptocurrency. Shares rose 2% in extended trading. This move puts Semler in the same company as MicroStrategy, which began employing an aggressive bitcoin-buying strategy in 2020 and has primarily traded as a proxy for the crypto’s price since then. That stock is up more than 500% this year. Meanwhile, bitcoin has gained 118%.

Stocks on the Move during Overnight Trading

Here are the stocks on the move in extended trading:Zoom Communications, the maker of video calling software, is lower by 4%. Zoom topped Wall Street quarterly estimates and posted fiscal fourth-quarter adjusted earnings per share guidance that was roughly in line with estimates.Kohl’s, the retail stock, dropped 3% after announcing its CEO would step down in January. Ashley Buchanan, who currently leads crafts store owner The Michaels Companies, is set to replace current CEO Tom Kingsbury.Agilent Technologies, shares slumped 1% after the laboratory equipment company issued adjusted earnings guidance for the full year and current quarter that fell short of Wall Street’s estimates, per LSEG.Stock futures opened slightly higher on Monday. Futures tied to the Dow Jones Industrial Average added 45 points or 0.1%, while S&P 500 futures and Nasdaq 100 futures each rose about 0.15%.