Jan 5 (Reuters) – Futures linked to the S&P 500 and the Nasdaq inched higher on Monday after losses in the previous week, partially boosted by oil companies that surged following the capture of Venezuelan President Nicolas Maduro by the United States in a military strike.
U.S. President Donald Trump said on Sunday, a day after Maduro was captured, that a second strike was possible if remaining members of the administration do not cooperate with his efforts to get the country “fixed.”
Investors bet the move against Venezuela’s leadership would allow American firms greater access to the world’s largest oil reserves. A U.S. embargo on Venezuelan oil remained in full effect, Trump said.
Exxon Mobil and Chevron up 4.1% and 7.7%, respectively.
SLB, Halliburton and Conocophillips gained between 6.5% and 9.9%, even as adequate global oil supplies knocked down prices on Monday.
“(It might) be a geopolitical shock, but for markets it’s not an oil-price earthquake… Most of the disruption risk is already priced in, this is a slow-moving structural story rather than a trigger for sustained oil price moves,” said Lale Akoner, global market analyst at eToro.
“The earliest impact is likely to appear in US refining… Refiners with exposure to complex facilities may see improved economics at the margin.”
At 05:52 a.m. ET, Dow E-minis were up 12 points, or 0.02%, S&P 500 E-minis were up 19.25 points, or 0.28%, and Nasdaq 100 E-minis were up 165.50 points, or 0.65%.
Wall Street’s main indexes rounded off a holiday-shortened week with losses, while the S&P 500 managed to eke out a positive first session in 2026, at a time when investors eye the “Santa Claus rally”.
It is a seasonal phenomenon where markets tend to get a late boost over the last five trading days of December and the first two of January, according to the Stock Trader’s Almanac.
The three main indexes posted double-digit gains in 2025 – their third consecutive year in the green, a run last seen during the 2019-2021 period. The Dow posted its eighth monthly gain on the trot in December, the longest such streak since 2017-2018.
This week, investor focus will be on a series of labor market data, including the monthly nonfarm payrolls on Friday, that could influence the Federal Reserve’s monetary policy in 2026.
Markets are pricing in 59 basis points of easing this year, as per data compiled by LSEG.
A December reading of manufacturing activity by the Institute of Supply Management is due after markets open.
Among other stocks, cryptocurrency-linked stocks jumped before the bell, tracking Bitcoin prices that hit a more than three-week high.
Strategy was up 4% and Riot Platforms inched 3.1% higher, while Coinbase gained 4.5% after a report said Goldman Sachs upgraded the exchange to “buy” from “neutral”.
Memory chipmakers also rose after reports said that shortages could increase prices of the chips. Micron Technology gained 3.8%, and Western Digital and Sandisk were up about 4% each.
Arista Networks advanced 3% after Piper Sandler upgraded the cybersecurity stock to “overweight” from “neutral”.
(Reporting by Purvi Agarwal in Bengaluru; Editing by Shinjini Ganguli)
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