US stock futures increased today as investors evaluate the US military action in Venezuela.
The capture of leader Nicolas Maduro and his wife prompted little reaction in crude oil prices as investors bet the move would not trigger broader geopolitical conflicts.
Today, Contracts on the S&P 500 rose 0.3%, while those on the Nasdaq 100 gained 0.7%.
Futures tied to the broad market index rose 0.2% while Dow Jones Industrial Average futures traded down 49 points, or 0.1%.
Chevron increased by 7% due to its existing operations in Venezuela. Exxon Mobil rose 4.2%.
Shares of oilfield service companies that could support Venezuela’s energy reconstruction, including Halliburton and SLB, each gained 9%. The State Street Energy Select Sector ETF rose 4.7%.
Bitcoin rose to a three-week high, gaining as much as 2.3%.
President Trump said Saturday that the US would “run” Venezuela “as we can do a safe, proper and judicious transition.”
Venezuela holds the world’s largest proven oil reserves, yet it currently produces less than 1 million barrels of oil per day, under 1% of global output.
By CEO NA Editorial Staff
