United States benchmark averages closed higher on Monday (Tuesday AEDT), with energy stocks rising after the U.S.’ strike on Venezuela and capture of its president over the weekend.
The S&P 500 finished 0.6% higher at 6,902.06. The Dow Jones Industrial Average lifted 1.2% to 48,977.18, a new record, while the Nasdaq Composite increased 0.7% to 23,395.82.
Energy stocks were up during Monday trading, with the S&P 500’s energy index rising 2.7% to reach its highest point since March 2025.
Chevron, the only U.S. oil company currently operating in Venezuela, saw shares increase by 5.1%. ExxonMobil’s shares were also up 2.2% and ConocoPhillips grew by 2.6%.
U.S. President Donald Trump has claimed U.S. oil majors will spend billions of dollars to revitalise Venezuela’s oil industry, though none have publicly agreed to do this.
The attack’s impact on energy stocks may be limited, wrote Zacks investment Research editor Urmimala Biswas. “While political narratives have highlighted the possibility of increasing Venezuelan crude exports to U.S. refineries, oil markets have largely factored in the country’s structural supply constraints.”
“Venezuela currently accounts for only about 1% of global oil production and we believe that any meaningful recovery in output would be slow rather than immediate.”
The S&P 500’s aerospace and defence index also climbed 1.5% to a record high. Shares in Lockheed Martin and Northrop Grumman were up 2.9% and 4.4% respectively.
While the S&P 500’s technology index dipped 0.2%, some Magnificent Seven stocks partly reversed their Friday decreases.
Tesla shares climbed 3.1% after seven consecutive days of losses, while Amazon shares rose 2.9%. Apple shares dipped 1.4%, however, after manufacturing partner Foxconn’s consumer electronics revenue fell.
