Dow hits record, energy stocks end higher after US strikes Venezuela

Wall Street ended higher on Monday (January 5) with the Dow Jones Industrial Average hitting an all-time peak thanks to surging financial shares, while energy firms jumped after a U.S. military strike that captured Venezuelan President Nicolas Maduro.

Investors bet Washington's move against Venezuela's leadership would allow U.S. firms access to the world's largest oil reserves. President Donald Trump's administration plans to meet with executives from U.S. oil companies this week to discuss boosting Venezuelan production.

The S&P 500 energy index rose to its highest since March 2025, with heavyweights Exxon Mobil and Chevron both surging.

Weapons manufacturers also advanced after Washington's military action. Lockheed Martin and General Dynamics climbed, while the S&P 500 aerospace and defense index rose to a record high.

The S&P 500 gained 43.58 points, or 0.64%, to end at 6,902.05 points, while the Nasdaq Composite gained 160.19 points, or 0.69%, to 23,395.82.

The Dow Jones Industrial Average rose 594.79 points, or 1.23%, to 48,977.18.

Production: Alex Cohen and Kyoko Gasha/Reuters