Stocks rose on Wall Street on Monday as crude prices climbed and energy-company shares jumped, helping push major indexes up at the start of the first full week of the new year.
Energy and banks led the market’s gains, while industrial firms and retailers also contributed to the broader rise. The S&P 500 rose 43.58 points, or 0.6%, to 6,902.05, and the Dow Jones Industrial Average climbed 594.79 points, or 1.2%, to 48,977.18 to set a new record. The Nasdaq composite added 160.19 points, or 0.7%, to 23,395.82, and smaller-company stocks outperformed, with the Russell 2000 up 1.6%. Markets in Europe also gained ground.
A key focus for investors was the oil market after U.S. forces captured Venezuela’s President Nicolás Maduro in a weekend raid. U.S. crude jumped 1.7% to $58.32 a barrel, and Brent crude rose 1.7% to $61.76 per barrel.
President Donald Trump floated a plan for U.S. oil companies to help rebuild Venezuela’s oil industry, and investors responded to the prospect by buying shares across parts of the sector. Chevron jumped 5.1%, Exxon Mobil rose 2.2% and Halliburton surged 7.8%.
Banks also moved higher. JPMorgan Chase rose 2.6% and Bank of America jumped 1.7% as the session produced gains in multiple sectors.
Technology shares drew attention as the industry began its annual CES trade show in Las Vegas. Nvidia fell 0.4%, while Applied Materials rose 5.7%, with investors looking ahead to new updates tied to artificial intelligence.
Mark Hackett, chief market strategist at Nationwide, said in a note to investors that the move reflected broad confidence rather than panic selling. “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,” Hackett wrote.
Outside equities, gold gained 2.8% and silver rose 7.9%, while bitcoin climbed to $94,700, its highest level since mid-November. Coinbase jumped 7.8% and Robinhood Markets rose 7% among crypto-related stocks. In bond markets, Treasury yields fell, with the 10-year yield at 4.15% compared with 4.19% late Friday, and the 2-year yield dropping to 3.45% from 3.48%.
Wall Street was also looking toward several economic updates during the week that the Federal Reserve will monitor as it weighs interest-rate policy. On Monday, the Institute for Supply Management released its December manufacturing index, showing the sector continued shrinking, and the services report was scheduled for Wednesday. Reports on jobs later in the week were also expected to draw attention as Fed officials balance a slowing labor market against risks for inflation, which has stayed above the Fed’s 2% target even after the central bank cut its benchmark rate three times late in 2025. Markets were expecting the Fed to hold rates steady at its upcoming meeting later in January.