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U.S. Markets Witness Gains Despite Venezuela Tensions
(MENAFN) U.S. equities finished higher on the second trading day of the week, as investors appeared to look beyond the recent American intervention in Venezuela.
The Dow Jones Industrial Average climbed 0.99%, or 484.9 points, closing Tuesday at a record 49,462.08. The Nasdaq rose 0.65%, or 151.35 points, to 23,547.17, while the S&P 500 added 0.62%, or 42.76 points, ending at 6,944.81.
The Volatility Index (VIX), often referred to as the "fear index," slipped 1.01% to 14.75.
Markets continued their upward momentum for a second consecutive day, following the U.S. weekend operation in Venezuela that led to the capture of President Nicolas Maduro and First Lady Cilia Flores.
President Donald Trump stated on Sunday that major American oil companies would be tasked with rebuilding Venezuela’s infrastructure, noting they would invest billions without U.S. government funding.
"The big oil companies (are) going to go in and they’re going to fix the infrastructure. They’re going to invest money. We’re not going to invest anything. We’re going to just take care of the country," he said.
Despite the broader rally, oil giant Chevron saw its shares drop more than 4% on Tuesday, erasing much of Monday’s 5% gain. Still, the stock remains up over 3% compared to a week earlier.
Meanwhile, Amazon, one of the "Magnificent Seven," boosted all three major indexes by more than 3%. Other AI-related firms also contributed to the gains, with Palantir Technologies rising more than 3% and Micron Technology surging around 10%.
The Dow Jones Industrial Average climbed 0.99%, or 484.9 points, closing Tuesday at a record 49,462.08. The Nasdaq rose 0.65%, or 151.35 points, to 23,547.17, while the S&P 500 added 0.62%, or 42.76 points, ending at 6,944.81.
The Volatility Index (VIX), often referred to as the "fear index," slipped 1.01% to 14.75.
Markets continued their upward momentum for a second consecutive day, following the U.S. weekend operation in Venezuela that led to the capture of President Nicolas Maduro and First Lady Cilia Flores.
President Donald Trump stated on Sunday that major American oil companies would be tasked with rebuilding Venezuela’s infrastructure, noting they would invest billions without U.S. government funding.
"The big oil companies (are) going to go in and they’re going to fix the infrastructure. They’re going to invest money. We’re not going to invest anything. We’re going to just take care of the country," he said.
Despite the broader rally, oil giant Chevron saw its shares drop more than 4% on Tuesday, erasing much of Monday’s 5% gain. Still, the stock remains up over 3% compared to a week earlier.
Meanwhile, Amazon, one of the "Magnificent Seven," boosted all three major indexes by more than 3%. Other AI-related firms also contributed to the gains, with Palantir Technologies rising more than 3% and Micron Technology surging around 10%.
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