US Stocks Rise as Traders Unfazed by Maduro Ouster: Markets Wrap
(Bloomberg) — US stocks galloped higher on Monday, as investors snapped up tech shares even while the ouster of Venezuela’s President Nicolas Maduro fanned worries over geopolitical risk. Oil prices rose, along with gold.
The Nasdaq 100 Index surged, with tech-focused megacaps such as Amazon.com Inc. and Tesla Inc. among the gainers. The benchmark S&P 500 Index followed suit, as shares of energy companies and financials rallied, while the Dow Jones Industrial Average hit a new record. Bitcoin was up 3%.
Brent crude rose as traders weighed the fallout from the developments in Caracas. Chevron Corp. shares traded higher, alongside other US oil majors, after President Donald Trump floated plans for a US-led revival of Venezuela’s industry.
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On a day that combined demand for havens as well as riskier assets, gold offered safety as questions swirled about what the weekend’s events hold for the global order: Prices for the precious metal were recently up around 3% to above $4,400 an ounce, while silver prices saw a 5% increase. Equity traders, meanwhile, showed 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. In US trading, gainers included Qualcomm Inc., which said it’s extending a push into the market for processors that are the heart of personal computers.
Among their biggest selling points, according to Qualcomm, is the inclusion of a powerful neural processing unit that’ll speed up the responsiveness of AI software without rapidly depleting the battery.
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 fell to 4.16%, as a report released Monday morning showed US manufacturing activity shrank in December by the most since 2024.
Venezuela Bonds
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.
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.
“Venezuela political transformation will not materialize in the short term,” according to Citi strategists including Alex Saunders. “For the United States, the engagement is being driven by perceived strategic interests rather than an immediate push for political transformation.”
Key US 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 Fed lowered its target band for short-term lending rates at its past three meetings in response to weakening labor-market conditions, and officials are expected to reduce it further this year.
Later in the week, the US government will report on housing starts, while the University of Michigan issues its preliminary January consumer sentiment index.
What Bloomberg strategists say…
“It’s reasonable to question whether the US operation in Venezuela will mark a period of even more overt US projection of power. If the White House thinks it will be a vote-winner come November, then that’s what we’re likely to see. That in turn could imply more volatility materializing at some point.”
— Cameron Crise, Macro Strategist, Markets Live. For the full analysis, click here.
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 0.8% as of 1:41 p.m. New York time The Nasdaq 100 rose 0.9% The Dow Jones Industrial Average rose 1.6% The MSCI World Index rose 0.9% Currencies
The Bloomberg Dollar Spot Index fell 0.1% The euro was little changed at $1.1724 The British pound rose 0.6% to $1.3536 The Japanese yen rose 0.4% to 156.25 per dollar Cryptocurrencies
Bitcoin rose 2.9% to $93,928.54 Ether rose 1.7% to $3,198.33 Bonds
The yield on 10-year Treasuries declined four basis points to 4.16% Germany’s 10-year yield declined three basis points to 2.87% Britain’s 10-year yield declined three basis points to 4.51% Commodities
West Texas Intermediate crude rose 1.7% to $58.29 a barrel Spot gold rose 2.6% to $4,445.62 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Anand Krishnamoorthy and Isabelle Lee.
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