US stocks powered higher on Monday, as demand for technology shares remained strong even while the ouster of Venezuela’s President Nicolas Maduro fanned worries over geopolitical risk. Gold and the dollar rallied.
The Nasdaq 100 Index jumped, with chip stocks such as Micron Technology Inc. and Intel Corp. among the gainers. The benchmark S&P 500 Index also rose, as shares of energy companies rallied. Gold climbed above $4,400 an ounce, while a gauge of the dollar headed for its biggest gain since November.
Brent crude swung between gains and losses as oil traders weighed the fallout from the developments in Caracas. Chevron Corp. surged at the open, alongside sharp gains across US oil majors, after President Donald Trump floated plans for a US-led revival of Venezuela’s industry.
On a day that saw demand for havens as well as riskier assets, the greenback and gold offered safety as questions swirled about what the weekend’s events hold for the global order. Equity traders, meanwhile, are showing little concern that tensions will curtail a three-year bull run.
“While the capture of Venezuelan president Maduro by American forces has dominated headlines, financial markets seem unperturbed,” said Thomas Mathews, head of markets, Asia Pacific at Capital Economics. However, “the geopolitical ramifications are potentially important and could, among other things, keep risk premia elevated on some regional assets.
The buoyant mood in big tech stocks was prevalent in Asia, where a regional gauge hit an all-time high.
AI “absolutely stays the most dominant factor in the markets right now,” Charu Chanana, chief investment strategist at Saxo Markets, told Bloomberg TV. “Tech optimism continues to overpower any of the other narratives.”
In bond markets, the yield on 10-year Treasuries edged lower to 4.17%. The question is whether the events will add to the appeal of US debt by stoking risk, or diminish demand due to concerns over inflation or US fiscal policy.
There is still uncertainty about what comes next. Venezuela’s acting president Delcy Rodríguez asked the US to work with her country, striking a more conciliatory tone toward the Trump administration after her initial outrage at the capture of Maduro.
“There are too many uncertainties to contend with,” wrote Mohit Kumar, chief economist and strategist for Europe at Jefferies. “Near-term drivers are likely to shift back to macro – the AI debate, unemployment and inflation picture and the large supply in government and corporate bonds in January.”
Venezuela Bonds
Meanwhile, Venezuela’s deeply discounted bonds traded higher after the capture of Maduro set the stage for the potential regime change that investors have been betting on.
Defaulted notes from the sovereign and state-run oil company PDVSA have already more than doubled to between 23 and 33 cents on the dollar in the past few months as Trump ramped up pressure. While still far out, the prospect of a potential debt restructuring could fuel further gains.
Key economic data will also shape the week ahead. In addition to the December jobs report, the US Bureau of Labor Statistics will issue figures on Wednesday for November job openings, quits and layoffs. The Institute for Supply Management’s December surveys of manufacturers and service providers will also offer clues about employment in those industries.
Later in the week, the US government will report on housing starts, while the University of Michigan issues its preliminary January consumer sentiment index.
Corporate News:
- US oil stocks jumped on Monday after President Donald Trump pledged to revive the Venezuelan energy sector following the capture of Nicolás Maduro over the weekend.
- Precious metals stocks also advanced, including Fresnillo Plc, Newmont Corp. and Freeport-McMoRan Inc.
- US initial public offerings delivered underwhelming results in 2025 as equity-market volatility and increasing scrutiny around themes such as crypto and artificial intelligence hit some of the year’s most high-profile listings.
- Saks Global Enterprises is looking to line up a loan of as much as $1 billion to keep the business running as part of a Chapter 11 bankruptcy filing that could happen in coming weeks, according to people familiar with the situation.
Some of the main moves in markets:
Stocks
- The S&P 500 rose 0.6% as of 9:30 a.m. New York time
- The Nasdaq 100 rose 1%
- The Dow Jones Industrial Average rose 0.3%
- The Stoxx Europe 600 rose 0.5%
- The MSCI World Index rose 0.5%
Currencies
- The Bloomberg Dollar Spot Index rose 0.2%
- The euro fell 0.3% to $1.1679
- The British pound was little changed at $1.3461
- The Japanese yen was little changed at 156.77 per dollar
Cryptocurrencies
- Bitcoin rose 1.6% to $92,688.46
- Ether rose 0.2% to $3,148.78
Bonds
- The yield on 10-year Treasuries declined two basis points to 4.17%
- Germany’s 10-year yield declined two basis points to 2.88%
- Britain’s 10-year yield declined three basis points to 4.51%
Commodities
- West Texas Intermediate crude rose 1.4% to $58.10 a barrel
- Spot gold rose 2% to $4,420.99 an ounce
