Venezuela’s oil industry has fallen into deep disrepair after years of neglect and international sanctions, and analysts say a full recovery could take years and require major investment. But the prospect of U.S. energy-company involvement in rebuilding the sector proved enough to lift markets broadly at the open of the first full trading week of 2026.

Energy stocks led Wall Street to broad gains Monday as investors priced in the potential for American oil companies to rebuild Venezuela’s oil industry following the U.S. military capture of President Nicolás Maduro over the weekend. The Dow Jones Industrial Average set an all-time record. Crude oil prices jumped sharply, and major energy companies posted some of the session’s largest gains.

The Dow climbed 594.79 points, or 1.2%, to close at a record 48,977.18. The S&P 500 rose 0.6% to 6,902.05 — just below its own record set in late December. The Nasdaq composite closed at 23,395.82, up 0.7%. Smaller company stocks outpaced the broader indexes, with the Russell 2000 rising 1.6%, a sign of broad investor confidence. Markets in Europe also gained ground.

Energy Sector Leads on Venezuela Prospect

U.S. crude oil prices jumped 1.7% to $58.32 per barrel. Brent crude, the international standard, also rose 1.7% to $61.76 per barrel.

President Donald Trump has floated a plan for U.S. oil companies to help rebuild Venezuela’s oil infrastructure, according to the Associated Press. Halliburton surged 7.8%, Chevron jumped 5.1%, and Exxon Mobil rose 2.2%, among the strongest individual performances in the session.

Venezuela’s oil industry has deteriorated severely after years of neglect and international sanctions. Current output is estimated at about 1.1 million barrels a day, and some analysts expect that figure could double or triple relatively quickly, the AP reported. A full recovery, however, could take years and require major investment.

Banks Post Solid Gains

Large banks rose alongside energy companies. JPMorgan Chase gained 2.6% and Bank of America jumped 1.7%.

Safe-Haven Assets and Cryptocurrency Climb

Gold climbed 2.8% and silver surged 7.9% — metals frequently treated as safe-haven assets during periods of geopolitical uncertainty. Both metals have notched elevated prices over the past year amid ongoing global conflicts and trade concerns.

Bitcoin rose to $94,700, its highest level since mid-November. Coinbase jumped 7.8% and Robinhood Markets gained 7%.

Technology Sector Mixed at Start of CES Week

Wall Street was also watching the technology sector as the industry’s annual CES trade show opened in Las Vegas. Nvidia fell 0.4%, while Applied Materials jumped 5.7%. Investor attention has been concentrated on artificial intelligence developments, which drove a series of market records in 2025.

“The market’s broad, confident and consistent march upward, and the absence of emotion-based selling, tells you we’re starting the year on pretty solid footing,” said Mark Hackett, chief market strategist at Nationwide, in a note to investors.

Federal Reserve and Economic Data Ahead

The 10-year Treasury yield stood at 4.19%, per Federal Reserve data, as investors also moved into bonds. The two-year Treasury yield, which more closely tracks Federal Reserve policy expectations, fell to 3.45% from 3.48%.

The Institute for Supply Management on Monday reported that manufacturing continued to shrink in December. The Fed cut its benchmark interest rate three times in late 2025, but inflation has remained above its 2% target, prompting the central bank to proceed cautiously. Wall Street expects the Fed to hold rates steady at its January meeting.

Reports on job openings and overall employment later in the week are expected to draw particular attention from both investors and policymakers.