Markets price in contained risk after US action in Venezuela, with oil-linked shares leading a broad rally.
Business
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Moneycontrol06-01-2026, 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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