Dow Jones Soars 600 Points to Record High, Shrugs Off Venezuela & Economic Woes

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CNBC TV18•06-01-2026, 04:39
Dow Jones Soars 600 Points to Record High, Shrugs Off Venezuela & Economic Woes
- •Dow Jones surged nearly 600 points to a record high on Monday, briefly crossing 49,000 intraday, extending last week's gains.
- •Wall Street ignored US actions in Venezuela, including the arrest of President Nicolas Maduro, and ongoing economic concerns.
- •Banking and energy stocks fueled the rally, with Chevron, Exxon, Halliburton, and SLB surging on hopes for Venezuelan investments.
- •The ISM manufacturing index remained in contraction for the 10th consecutive month at 47.9, with tariffs cited as a key factor.
- •Brent Crude rose above $62, Silver rebounded 7% to $77, and Bitcoin hit a three-week high, while Gold stayed near $4,500.
Why It Matters: Wall Street defied geopolitical and economic worries, pushing Dow Jones to a new record high.
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