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Asian stocks continue record rally as oil and dollar drift
The Asian stock market continued its record-breaking climb on Tuesday. They took the baton from Wall Street, where oil companies and financials gained helped the Dow Jones Industrial Average reach a new high. The U.S. oil industry got a boost after the military raid that captured Venezuelan president Nicolas Maduro over the weekend. Crude oil fell back $1 per barrel after a rise overnight, as traders assessed possible impacts on Venezuela's crude oil flows. Venezuela is home to the largest oil reserves in the world. The events have had a limited impact on the risk sentiment. Equities are driven by momentum, while currencies are based on macroeconomic data. The U.S. Dollar was stable ahead of the monthly jobs data on Friday. The dollar surged in the previous session to its highest level in four weeks, only to lose all gains at the close after manufacturing activity fell to a record low. Copper set a new record, and precious metals were not far behind. The Topix index, which is MSCI's broadest measure of Asia-Pacific stocks, jumped 1.3% at a record high, mainly due to gains in Japanese shares. The Hang Seng in Hong Kong rose 0.7%. Blue chips on the mainland of China gained 0.3%, and Australia's benchmark stock index rose 1%. South Korea's KOSPI fell 0.4% from its record highs reached on Monday. U.S. S&P futures rose 0.1% after a 0.6% increase in the cash index overnight. Chevron jumped more than 5%. U.S. president Donald Trump has said that he will put Venezuela under "temporary American Control" and could order another attack if Venezuela does not cooperate with U.S. attempts to open its oil industry and end drug trafficking. He also threatened to take military action in Colombia, Mexico and other countries. Trump will meet with executives of U.S. oil firms later this week to talk about boosting Venezuelan production. This was reported by a source familiar with the issue. Investors are convinced that global markets and the economy will not be affected by Venezuela's relatively small economy. However, Yusuke Matsuo of Mizuho Securities wrote in a note to clients that it would take years for the country to increase its oil production. Gold, which is considered a safe haven asset, will also perform well. Brent crude futures fell 19 cents in the latest session to $61,57 per barrel, while U.S. West Texas intermediate crude dropped 22 cents at $58.10. After a 2.7% rise on Monday, gold was at $4,449 per ounce. It is less than $100 away from its previous record high of $4,548.92. Prices of copper in London and Shanghai reached record levels as fears about supply grew following a strike at a Chilean mining facility. U.S. Comex Copper reached a record high on Monday. The dollar was unchanged at 156.47 Japanese yen, and the euro also remained stable at $1.1724. The pound bought $1.3539. The dollar index, which measures the currency in relation to a basket that includes these three rivals as well as three other major counterparts, fell 0.1%, bringing it down to 98.291. The dollar index reached a high of 98.861 for the first day since December 10 The closely followed U.S. employment report due Friday will play a key role in determining the expectations regarding the future of monetary policy. LSEG futures calculations showed that traders expect two Federal Reserve rate cuts in 2018. (Reporting and editing by Christopher Cushing; Kevin Buckland)
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Oil prices fall on the prospect of increased Venezuelan production and ample supply outlook
Oil prices dropped on Tuesday, as traders assessed the possibility of increased Venezuelan crude production following the capture by the U.S. of President Nicolas Maduro. This added to expectations that global supplies would be ample this year due to weak demand. Brent crude futures fell by 0.2% at $61.62 per barrel as of 0103 GMT, while U.S. West Texas Intermediate crude crude dropped 0.3% to $58.15 per barrel. Ed Meir, Marex analyst, said: "I believe that if even a small part of the Trump playbook comes true, Venezuelan crude production should increase... If it increases, this will put more pressure on a market already oversupplied." In December, market participants surveyed by?expected oil prices to be pressured in 2026 because of growing supply and weakening demand. The price pressure is likely to increase now that the U.S. captured Venezuela's leader. This increases the chances of an end to the U.S. oil embargo and more production. A person with knowledge of the matter said that Donald Trump's administration plans to meet U.S. Oil executives this week in order to discuss increasing Venezuelan oil production. The oil benchmarks were more than 1% up in the previous session as investors digested the news of Maduro being captured and U.S. remarks about taking over Venezuela. Maduro has denied all charges of narcotics. Venezuela is the founding member of the Organization of Petroleum Exporting Countries. It has the largest oil reserves in the world, at about 303 billion barrels. The oil sector of Venezuela has been declining for a long time due to U.S. sanction and under-investment. Last year, its average production was 1.1 million barrels of oil per day. Oil analysts say that Venezuelan production could rise by up to half a million barrels per day in the next two year if political stability is achieved and U.S. investments are made. Citi stated in a note to clients that "longer term, U.S. Administration's?stated wish to increase Venezuelan oil supplies is likely to give?a?net bearish impulse to market," "We continue to believe that OPEC+ led by Saudi Arabia will likely cut production to protect $55-60/bbl Brent in the medium term, should surprise the upside." OPEC+ and its allies agreed at a brief meeting held on Sunday to maintain current output levels. (Reporting and editing by Christopher Cushing in Bengaluru, Anushree Mukerjee from Bengaluru)
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Hawaiian Electric settles with Maui wildfires shareholders for $47.75 Million
Hawaiian Electric Industries has reached a settlement of $47.75million with shareholders who accused it of misleading them regarding its wildfire prevention and safety protocols before the 2023 Hawaii wildfires. A preliminary settlement has been filed with the U.S. District Court of San Francisco on Monday, which requires approval by a judge. Shareholders claimed that Hawaiian Electric had falsely claimed to be taking the appropriate actions?to prevent the possibility of its utility poles causing a wildfire, particularly in western Maui. The spread of dry haystacks?created "highly flammable stacks" all around an populated area. Court documents show that Hawaiian Electric denied wrongdoing when it agreed to settle. A regulatory filing shows that it set aside funds for the settlement during last year's third-quarter and expected insurance companies to provide funding. Hawaiian Electric did?not immediately respond to an?ask for comment. In August 2023, wind-driven fires broke out primarily on Maui and destroyed a large part of the historic resort city of?Lahaina. More than 100 people were killed. Hawaiian Electric, based in Honolulu, agreed to pay $1.99 billion towards a settlement of approximately $4 billion to compensate victims. The court must approve the agreement. Reporting by Jonathan Stempel, New York; editing by Jamie Freed
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Stocks, energy shares, oil jump after US strikes Venezuela
Major?stock indices and oil prices rose on Monday. Energy shares climbed and investors reacted calmly to the?potential ramifications of a U.S. strike that captured Venezuelan president Nicolas Maduro. The Dow Jones Industrial Average reached a new record. S&P 500 Energy Index rose to its highest level since March 2025. Shares of Exxon Mobil and Chevron were up by 2.2% each. The S&P 500 index of energy shares rose more than 1%, as did financial shares. Donald Trump, the U.S. president, said that after the events of the weekend in Venezuela he had temporarily placed the South American country under American control. He also stated that he could order another strike should Venezuela not cooperate with U.S. efforts for Venezuela to open its oil industry and end drug trafficking. He also threatened to take'military action' in Colombia and Mexico. Trump plans to meet executives from U.S. Oil Companies later this week in order to discuss increasing Venezuelan oil production. This was reported by a source with knowledge of the situation. Oil prices also rose as traders assessed possible impacts on Venezuela's crude oil flows, which is home to the world's largest reserves. Oliver Pursche is a senior vice president and advisor at Wealthspire Advisors, located in Westport, Connecticut. He said that the markets are responding logically by ignoring geopolitics surrounding Venezuela. He said that the GDP of Venezuela has virtually no effect on the global GDP, so the market should ignore this. The U.S. data for the week will have a major impact on the outlook of interest rates. The Dow Jones Industrial Average climbed 594.79, or 1.2%, to 48.977.18, while the S&P 500 jumped 43.58, or 0.6%, to 6,902.05; and the Nasdaq Composite grew 160.19, or 0.9%, to 23395.82. The MSCI index of global stocks rose by 8.38 points, or 0.82% to 1,028.02. The pan-European STOXX 600 rose by 0.94%. Emerging market stocks gained 21.63 points or 1.51% to 1,451.11. Brent crude futures gained $1.01, settling at $61.76 per barrel. U.S. West Texas Intermediate crude rose $1 to settle at $58.32. US MILITARY MEASURES IMPLEMENT SAFE-HAVEN REQUEST The appeal of gold as a safe haven led to its rise. Spot gold reached its highest level in the last 29 days. U.S. Gold Futures for February Delivery gained 2.8% and settled at $4,451.5 per ounce. The dollar index fell slightly, after reaching a near four-week high versus a range currencies. Traders were focused on the raft of important economic data this week and mostly ignored events in Venezuela. The dollar index fell by 0.24%, to 98.32, measuring the greenback in relation to a basket including the yen, the euro and other currencies. The release of Friday's jobs report will provide traders with new data that could offer new clues about the U.S. economic situation and the direction of Federal Reserve policy. Treasury yields in the United States have eased. The yield on the benchmark U.S. 10 year notes dropped 2.4 basis points from 4,189% late Friday to 4.165%.
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Dow hits record high, and energy stocks are higher after US strikes Venezuela
Wall Street closed higher on Monday. The Dow Jones Industrial Average reached an 'all-time high thanks to surging shares in financial companies, while energy companies jumped following a U.S. military?strike which captured Venezuelan president Nicolas Maduro. Investors believe that Washington's action against Venezuela's government will allow U.S. companies access to the largest oil reserves in the world. The Trump administration will meet this week with executives of U.S.-based oil companies to discuss increasing Venezuelan production. Exxon Mobil, Chevron and other heavyweights have both surged in the S&P 500 Energy Index. After Washington's military intervention, weapons manufacturers have also seen a rise. Lockheed Martin, General Dynamics and the S&P 500 aerospace & defense index all rose. Energy stocks have benefited from the expectation that Trump will send his team to Venezuela to invest more and make more money. Rob Haworth is a senior investment strategist with U.S. Bank Wealth Management, based in Seattle. Haworth explained that the lack of permanent boots, and the fact we are not permanently engaged has allowed the equity markets to "set aside" any fears they may have had about a long-term engagement. Tesla has risen after seven consecutive sessions of losses. Apple and Nvidia both declined. The preliminary data shows that the S&P 500 rose 43.67 points or 0.64% to 6,902.14 while the Nasdaq Composite grew 161.66 or 0.70% to 23,397.29. The Dow Jones Industrial Average climbed 595.07, or 1.23% to 48,977.46. Investors were looking forward to the upcoming quarter reports when they boosted the S&P 500 Financials Index. Analysts expect S&P 500 companies to grow their earnings by 6.7% in the December quarter. Goldman Sachs & JPMorgan Chase both hit new records. Steve Sosnick is the chief market analyst for Interactive Brokers. He said, "The mood has been favoring financial stock in recent days. As people look beyond technology, this sector is one that many are choosing to focus on." Wall Street's major indexes have posted double-digit growth in 2025, the first time since 2021. The data showed that U.S. Manufacturing contracted more than expected in December. This extended a 10-month decline. On Friday, the focus will be on the nonfarm payrolls for the month. These could have an impact on the Federal Reserve's monetary policies in 2026. According to LSEG, the markets are pricing in an interest rate easing of about 60 basis points this year. Cryptocurrency-linked shares advanced as bitcoin hit a more than three-week high. Strategy, formerly MicroStrategy, and Coinbase both gained. Goldman Sachs upgraded Coinbase from "neutral" to "buy".
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US orders $2.7 billion to increase uranium enrichment
Energy Department of the United States announced on Monday that it would award orders totaling $2.7 Billion to three 'companies for boosting domestic uranium enrichment over the next 10 years. This is part of a larger effort to reduce U.S. dependency on Russian supply. The orders were placed with American Centrifuge Operating General Matter, Orano Federal Services and General Matter, according to a department statement. The contracts will require that the companies meet certain milestones in order to provide enrichment for low-enriched?uranium or high-assay, low-enriched Uranium (HALEU) for existing nuclear power plant and new, smaller modular reactors. Chris Wright, Secretary of Energy, said: "Today's award shows that this Administration is dedicated to restoring a safe domestic?fuel supply system capable of producing nuclear fuels required to power reactors today and advanced reactors tomorrow." Russia is the only country currently producing HALEU (uranium that has been enriched between 5% and 20%) in commercial quantities. This is said to improve efficiency of new high-tech nuclear reactors. The funds to produce the fuel in the United States are included in a bill to completely ban uranium exports from Russia by 2028. The DOE awarded $900 million to each of?American Centrifuge Operating (a subsidiary company of Centrus Energy) and General Matter, which is backed by tech billionaire Peter Thiel. This money will be used to develop domestic HALEU capacity. Orano Federal Services received $900 million for expanding domestic low-enrichment production. Energy Department awarded $28 million in addition to the previous award to Global Laser Enrichment. This company is a part-owned Canadian uranium firm Cameco. The money will be used to further develop next-generation technology for uranium enrichment. Global Laser Enrichment sought an award of $900 million. HALEU critics claim that it could be a weapon if it falls into the wrong hands. They recommend limiting enrichment between 10% and 12% for safety. The uranium fuel in the reactors of today is enriched by about 5%.
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Assange's attorney Barry Pollack will fight Maduro’s US drug charges
Barry Pollack, the Washington lawyer that'represented WikiLeaks founder Julian Assange' will defend the toppled Venezuelan President Nicolas Maduro. The case could test the immunity claims of foreign leaders as well as the legality of his capture. Pollack appeared alongside Maduro in Manhattan federal court on Monday, where he pleaded no guilt days after Maduro was captured along with his wife in an U.S. Military raid. Assange's case gave Pollack an insight into cases rife with global intrigue, and the consequences they can have on America's reputation in the world. The case was a test of whether U.S. laws could criminalize publishing sensitive information. A DEAL FOR ASSANGE RELEASE WAS NEGOTIATED BY POLLACK Assange was charged with espionage by the U.S. Assange faced U.S. After months of negotiations he pleaded guilty on a single count for conspiring to obtain classified defense information and to disclose it. The 2024 deal Pollack made allowed Assange to walk out of a British jail, enter his plea on the U.S. territory Northern Mariana Islands and then?return to his native Australia. POLLACK SAYS: HE WILL CHALLENGE 'MILITARY ABDUCTIONS' BY MADURO Maduro, who is accused of being part of a conspiracy that funneled cocaine to the United States by working with drug cartels, international gangs, armed guerrillas, and armed guerilla groups, pleaded guilty to a four count indictment on Monday. Pollack, who represented Maduro at his arraignment before the Manhattan federal court on January 9, said that he expected a lengthy legal battle over what he called Maduro’s “military abduction,” indicating that the defense would argue Saturday’s?operation is unlawful. Pollack could also assert that Maduro, as head of a government from a different country, is immune to criminal charges. Pollack didn't immediately reply to a question for comment. Pollack, in an interview with Lawdragon last year regarding the Assange case, said that the United States had an "extraordinary view" of its global jurisdiction. Both arguments are subject to legal obstacles. Since 2019, the U.S. does not recognize Maduro's leadership of Venezuela. This is because Maduro won an election that was deemed fraudulent by the U.S. U.S. Courts have in general refused to dismiss prosecutions on the basis that a defendant had been brought into the U.S. illegally. Pollack, a lawyer at Harris St. Laurent & Wechsler, represented a former Central Intelligence Agency agent who was convicted for sharing classified information with a journalist. He obtained an acquittal of a former Enron Corp. executive facing charges related to the collapse of the energy company in 2001. (Reporting and editing by Noeleen Walder, Howard Goller, Jack Queen. Additional reporting by Andrew Goudsward)
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Gold reaches a new high following US strikes on Venezuela
Gold reached a new high of one week on Monday after U.S. strikes against Venezuela boosted the appeal of bullion as a safe haven. Spot gold increased 2.7%, to $4444.52 per ounce at 1:38 pm. ET (1838 GMT) after hitting its highest level in December 29. Gold reached an all-time high of $4,499.71 on December 26, U.S. Gold Futures for February Delivery?Settled 2.8% Higher at $4,451.5 per ounce. Alexander Zumpfe is a precious metals dealer at Heraeus Metals Germany. He said that the situation in Venezuela has reactivated a safe-haven trend. The U.S. Federal Reserve and geopolitical events fueled a 64% increase in gold last year. Gold prices rose 64% last year, boosted by geopolitical flashpoints and the rate-easing cycle of the U.S. Federal Reserve. On Saturday, the U.S. invaded Venezuela and ousted President Nicolas Maduro in Washington's direct intervention in Latin America for the first time since 1989. Donald Trump has warned that if Caracas continues to resist U.S. efforts for it to open its oil industry and stop drug trafficking, he will launch another strike. He also suggested that Colombia and Mexico could be targeted over illicit drug flows. Due to its non-yielding properties, gold is a traditional form of store of value. Zumpfe stated that "another move towards?new records highs" would be likely if geopolitical conflicts intensify or if U.S. economic data confirms expectations 'that the Fed must ease more aggressively than currently priced. The markets are awaiting the nonfarm payroll figures for December on Friday and expect at least two rate reductions this year. Silver rose 5.2% to $76.37/oz after rising 147% in 2025. This was due to its designation as an important mineral for the United States and a structural deficit on the market amid increasing demand. Spot platinum rose 5.9% to $2.269.55/oz. Palladium increased 3.4% to $1694.75.
Investors assess Venezuela implications as they watch oil prices and stocks rise.
Investors weighed the implications of U.S. military intervention in Venezuela as they prepared for the week's worth of economic data releases that will be released in the first trading week of 2019.
S&P 500 futures rose 0.1%, while MSCI's broadest Asia-Pacific index outside Japan gained 1.2%.
Investors are assessing what the impact of the dramatic events of the past weekend, in which the U.S. captured Venezuelan President Nicolas Maduro. On Saturday, President Donald Trump announced that he would temporarily take Venezuela under American control.
Neil Shearing is the group chief economist at Capital Economics. He said that the removal of Venezuelan President Nicolas Maduro from office by the U.S. will not have any significant economic effects on the global economy in the near future. "But its geopolitical and political ramifications are likely to reverberate," said Neil Shearing, group chief?economist at Capital Economics.
Brent crude futures rose 0.2% to $60.87 as oil markets assessed?the impact?of the U.S. intervening in Venezuela and a Sunday vote by OPEC+ to maintain oil production at the same level.
"A bearish story on oil prices is highly unlikely." Venezuela will need capital and engineering help to reach its'maximum production, which wasn't that impressive at the start," said Marko papic, chief strategy at BCA Research, Los Angeles.
Papic said, "We do not consider ourselves to be sellers of oil at this time and in fact we think that there could be upside risks."
The Nikkei225, a regional stock market, climbed 2.8% and is now near the record high set two months ago. The Japanese stock market continued to rise as the data revealed that manufacturing activity in December stabilised, ending a 5-month-long decline.
Seoul's Kospi?and Taiwan?each climbed more than 2 % to reach new record highs.
The Chinese markets were muted. The Hang Seng Index rose 0.1%. Chinese oil companies weighed down the index, which is a measure of Hong Kong-listed energy shares. Australian shares rose 0.1%.
Vasu Menon is the managing director of OCBC's investment strategy in Singapore.
He said: "Strategic calculations are taking place against the backdrop a midterm election year and developments are unpredictable." This uncertainty could support oil prices. "A more volatile geopolitical climate may boost haven assets such as precious metals."
The U.S. dollar index, which measures greenback strength against a basket six currencies, rose 0.1% to 98.55 at the end of last day, continuing recent gains for a fifth straight day.
The yield of the 10-year Treasury Bond in the United States was up 0.2 basis point at 4.187%.
Gold rose 1%, trading at $4371.29.
Bitcoin rose 0.2% to $91,452.90 while ether remained flat at $3.141.29. (Reporting and editing by Gregor Stuart Hunter, Muralikumar Anathharaman, and Shri Navaratnam).
(source: Reuters)