Post-Venezuela Rally Carries Indexes to All-Time Peaks

Stocks rose on Monday even after the U.S.' attack on Venezuela and capture of leader Nicolas Maduro as crude oil prices saw gains, as investors bet the action would not lead to bigger geopolitical conflicts that upset markets.

The Dow Jones Industrials rocketed 595.10 points, or 1.2%, to close at 49,105.79, an all-time high in the session.

The S&P 500 Index claimed 43.62 points to 6,902.16.

The NASDAQ popped 160.19 points to 23,395.82.

Energy stocks led the gains on the notion the companies would benefit from rebuilding Venezuela’s oil infrastructure. Chevron surged 5% and was seen as the biggest beneficiary because of its presence already in Venezuela, which has the largest proven oil reserves in the world.

Exxon Mobil traded up 2%. Shares of oilfield services companies that could aid the Venezuela energy rebuild like Halliburton and SLB moved higher by 9% each.

Financial stocks were higher as well, as those on Wall Street were betting on a strong U.S. economy this year. Shares of big bank Goldman Sachs was up 4%, while shares of regional bank U.S. Bancorp grew 3%.

Following the attack and capture by the U.S. military, Maduro and his wife, Cilia Flores, were flown to New York — where they were charged with narco-terrorism conspiracy and other crimes. Drug trafficking, according to the indictment, “has enriched and entrenched Venezuela’s political and military elite.”

President Donald Trump said Saturday in a news conference that the U.S. would “run” Venezuela “until such time as we can do a safe, proper and judicious transition.”

Shares of defense giants General Dynamics moved higher 3% and Lockheed Martin gaining 2%, with Trump’s latest action showing quick military strikes would be a key part of his policy for dealing with geopolitical issues that arise.

Prices for the 10-year Treasury climbed, lowering yields to 4.15% from Friday’s 4.19%. Treasury prices and yields move in opposite directions.

Oil prices picked up $1.05 to $58.37 U.S. a barrel.

Gold prices sprinted $122.50 to $4,452.10