US stocks open higher as markets brush off Venezuela shock; Nasdaq climbs 0.8%

• Exxon Mobil jumped 4.3% and Chevron surged 7.8% in pre-market trading after President Trump indicated 'very large' US oil companies would be invited to rebuild Venezuela's oil infrastructure, though experts warn this could take years
• Tech and semiconductor stocks rebounded as the Nasdaq looked to snap a five-day losing streak, with Taiwan Semiconductor gaining 2.63% after Goldman Sachs raised its price target
• Key events for Monday include the ISM Manufacturing PMI report (expected at 48.3, still signaling contraction) and Nvidia CEO Jensen Huang's CES keynote, both expected to set the tone for January trading more than geopolitical headlines

Market Summary: US Stocks Open Higher Despite Venezuela Tensions

Market Performance:

US equities opened the week with solid gains, shaking off geopolitical concerns following the US strike on Venezuela and the capture of President Nicolás Maduro. The S&P 500 and Dow Jones Industrial Average both rose approximately 0.6%, while the tech-heavy Nasdaq Composite outperformed with a 0.8% gain. In pre-market trading, S&P 500 futures advanced 0.3% and Nasdaq-100 futures climbed 0.7%, potentially ending a five-day losing streak.

Sector Highlights:

Energy stocks dominated pre-market trading. Chevron surged 7.8% and Exxon Mobil jumped 4.3% after President Trump announced plans to invite major US oil companies to invest "billions" in rebuilding Venezuela's oil infrastructure. However, analysts remain skeptical about the timeline, noting Venezuela's severely degraded infrastructure and global oil oversupply, with Brent crude hovering near $60 per barrel.

Semiconductor and AI-related stocks rebounded strongly. Taiwan Semiconductor Manufacturing (TSM) gained 2.63% pre-market following a Goldman Sachs price target increase. Broadcom suppliers and data center chipmakers also advanced on continued AI spending optimism.

Key Events to Watch:

• ISM Manufacturing PMI (10:00 AM ET): Expected to reach 48.3 from 48.2, marking the ninth consecutive month below the 50 contraction threshold
• Nvidia CEO Jensen Huang's CES keynote: Anticipated announcements on AI chips, robotics, and autonomous vehicles, critical for restoring investor confidence in AI capital spending
• AMD CEO Lisa Su's keynote also scheduled this week

Markets appear focused on economic fundamentals rather than geopolitical headlines, with Friday's jobs report looming large.