Wall Street kicks off 2026 with record highs
Wall Street rang in the new year on a strong note—Dow Jones soared nearly 600 points to briefly top 49,000 for the first time ever.
The S&P 500 and Nasdaq also edged up, despite recent US actions in Venezuela and the arrest of President Maduro, which did not significantly impact investor sentiment.
Banks and energy stocks fuel the rally
Monday's gains were powered by banking and energy giants.
Goldman Sachs and US Bancorp led financials, while Chevron, Exxon, Halliburton, and SLB jumped up to 9% thanks to renewed optimism about investing in Venezuela.
Fun fact: Chevron is still the only US oil company operating there under current sanctions.
Mixed signals from the economy
Despite all this market excitement, not everything looks rosy—manufacturing numbers showed a slowdown last month.
On the bright side, oil prices bounced back above $62 a barrel.