On Monday, the S&P 500 Index closed up 0.64% at a one-week high, while the Dow Jones Industrial Average rose 1.23%, reaching a new all-time high. Optimism surrounding AI spending buoyed chipmakers, with KLA Corp seeing a more than 6% gain. Additionally, energy stocks surged after President Trump announced U.S. control of Venezuela and its oil reserves, leading to more than 9% increases for Valero Energy and SLB.
U.S. economic indicators also influenced market movements; the 10-year T-note yield decreased to 4.16% after the December ISM manufacturing index fell to 47.9, marking the steepest decline in 14 months. Analysts anticipate further economic reports this week, including the December ADP employment change expected to rise by 48,000 and the nonfarm payrolls projected to increase by 59,000.
Globally, European markets rallied, with the Euro Stoxx 50 hitting an all-time high, and China’s Shanghai Composite rising 1.38%. In the commodities sector, gold and silver prices surged more than 2% and 7%, respectively, amid escalating geopolitical tensions.
