The Nasdaq snapped a five-day losing streak
The U.S. military's capture of Venezuelan President Nicolás Maduro sparked a market rally that gained traction throughout the session. Energy stocks surged on hopes of a recovery of oil assets previously seized by Venezuela, while defense stocks enjoyed an uptick as well.
The Dow rose 595 points to secure a record close, earlier jumping above 49,000 for the first time ever, with help from Chevron (CVX) stock. The S&P 500 and Nasdaq finished higher as well, the latter snapping its five-day losing streak. After the close, traders will be watching Nvidia (NVDA) CEO Jensen Huang's major speech regarding AI, gaming, robotics, and more.
Continue reading for more on today's market, including:
- Palantir stock a favorite amongst options traders.
- Focusing in on two more defense stocks rallying today.
- Plus, 2 noteworthy analyst calls; and a closer look at CVX and XOM.
There were no earnings of note today.
Oil in Focus Globally
Crude prices rose on Monday, with all eyes trained on Venezuela after the ousting of Maduro. January-dated West Texas Intermediate (WTI) crude added 1.7% to settle at $58.32 per barrel.
Geopolitical tensions also gave safe-haven gold a lift, with the yellow metal surging to a one-week peak. February-dated gold futures rose 2.8% to settle at $4,451.50 an ounce.