Wall Street Soars to Record Highs as Venezuela Action Fuels Energy Stock Rally

Business
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Moneycontrol•06-01-2026, 03:37
Wall Street Soars to Record Highs as Venezuela Action Fuels Energy Stock Rally
- •US stocks closed higher, with Dow hitting a record, as investors downplayed escalation risks from Venezuela action.
- •Energy stocks surged on expectations of US companies benefiting from rebuilding Venezuela's oil infrastructure post-Nicolás Maduro's capture.
- •Chevron, Exxon Mobil, Halliburton, and SLB saw significant gains, with the Energy Select Sector ETF climbing nearly 3%.
- •Risk-on sentiment extended to gold and Bitcoin; financial stocks like Goldman Sachs and U.S. Bancorp also advanced.
- •Markets view the Venezuela event as manageable, not pricing in a prolonged conflict, with focus shifting to reconstruction opportunities.
Why It Matters: Wall Street shrugs off Venezuela shock, hitting records as energy and financials rally on reconstruction hopes.
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