Key Moments
- S&P 500 Futures was largely unchanged at 6,940.75 points, while Nasdaq 100 Futures rose 17 points to 25,594.25 points by 06:30 ET (11:30 GMT).
- The Dow Jones Industrial Average had climbed 1.2% to a record close, powered by gains in major energy and industrial names.
- Chevron Corp (NYSE:CVX) closed over 5% higher and Exxon Mobil Corp (NYSE:XOM) gained more than 2% as investors positioned for a potential long-term shift in Venezuelan oil production.
Futures Little Changed After Record-Setting Dow Session
U.S. equity index futures showed limited movement in early trading on Tuesday, pausing after a strong prior session that saw Wall Street advance, led by a surge in energy shares following U.S. action in Venezuela and the capture of President Nicolás Maduro.
S&P 500 Futures was largely flat at 6,940.75 points by 06:30 ET (11:30 GMT). Nasdaq 100 Futures added 17 points to reach 25,594.25 points, while Dow Jones Industrial Average Futures slipped 85 points to 49,142.0 points.
Commentary around Venezuela remained centered on its long-term production potential. “The Venezuela conversation is the same as it was yesterday – the country could become a major force in global oil production, but this will take a long time (and cost a ton of money),” Vital Knowledge analyst Adam Crisafulli wrote in a note to clients on Tuesday.
Dow Sets New Peak as Energy and Industrials Outperform
During Monday’s regular session, the Dow Jones Industrial Average advanced 1.2% to close at a fresh all-time high. The move was propelled by notable strength in oil majors and industrial stocks, as markets assessed the implications of changing geopolitical conditions in the oil-rich South American nation.
The S&P 500 gained around 0.6%, while the NASDAQ Composite finished 0.7% higher, extending the broader equity rally.
Energy shares were among the leading gainers after the U.S. confirmed the capture of Venezuelan President Maduro following a military operation over the weekend. The development prompted investors to reassess Venezuela’s long-term oil outlook.
Market participants positioned around the possibility that an eventual political transition could enable greater investment and higher output from Venezuela’s substantial crude resources, with potential upside for U.S. oil producers with established know-how in the region.
Washington Signals Role for U.S. Energy Companies
President Donald Trump indicated that the U.S. would guide a transition process in Venezuela and urged American energy firms to take a central role in rebuilding the country’s oil industry. Trump said U.S. companies had the expertise to restore production capacity and stabilise output in the OPEC member.
Energy Equities Rally on Venezuela Prospects
Oil majors and service providers reacted strongly to the shifting outlook. Chevron Corp (NYSE:CVX) closed over 5% higher, while Exxon Mobil Corp (NYSE:XOM) advanced more than 2%. Oilfield services groups including Halliburton Company (NYSE:HAL) and Schlumberger also recorded solid gains, reflecting optimism about potential future increases in drilling and infrastructure activity.
| Instrument / Index | Move | Level / Detail |
|---|---|---|
| S&P 500 Futures | Little changed | 6,940.75 points at 06:30 ET (11:30 GMT) |
| Nasdaq 100 Futures | +17 points | 25,594.25 points at 06:30 ET (11:30 GMT) |
| Dow Jones Industrial Average Futures | -85 points | 49,142.0 points |
| Dow Jones Industrial Average (cash) | +1.2% | Closed at an all-time high |
| S&P 500 (cash) | +0.6% (around) | Session gain |
| NASDAQ Composite (cash) | +0.7% | Session gain |
| Chevron Corp (NYSE:CVX) | Closed over +5% | Energy sector outperformer |
| Exxon Mobil Corp (NYSE:XOM) | Gained more than +2% | Benefited from Venezuela optimism |
Labor Data in Focus Ahead of December Jobs Report
Attention in markets is now turning to the upcoming U.S. December jobs report on Friday, which is viewed as a key gauge for investors after recent data suggested easing momentum in the labor market.
“Dec NFP are likely to tick up to a stable 70k (private: 75k) print, higher than consensus expectations,” BofA economists wrote in a note.
The release is expected to be important for shaping market expectations around the path of interest-rate cuts later in the year. “For now, our base case remains that the Fed will not cut again under Powell,” BofA said.
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