Daily summary: Stocks Climb Despite Geopolitical Chaos, Dollar Retreats (05.01.2026)

Wall Street indices started the week with strong gains as optimism in AI-related sectors overshadowed geopolitical risk concerns following the U.S. attack on Venezuela. The US30 is leading gains (around +1.6%), followed by the US2000 (+1.55%), US100 (+1%) and US500 (+0.75%).

Today’s advance in the DJIA is driven mainly by a rally in bank stocks ahead of next week’s earnings (JPM.US +3.3%, GS.US +4.4%). The oil sector is also among the top performers, led by Chevron (CVX.US +5.6%).

Nicolás Maduro appeared before a Manhattan court, where he rejected charges including narco-terrorism, cocaine trafficking and possession of a machine gun. At a special United Nations session, countries including China condemned U.S. actions, accusing Washington of violating Venezuela’s sovereignty, security and rights, and criticizing its “world policeman” stance.

The U.S. ISM Manufacturing PMI unexpectedly fell to 47.9 in December from 48.2 in November (forecast: 48.3). Production increased, while employment, new orders and imports continued to contract. Computers and electronics was the only sector in expansion.

European markets confidently extended last week’s gains, with the Stoxx 600 surpassing the symbolic 600-point level for the first time. The strongest gains were seen in the Netherlands (NED25 +1.35%) and Germany (DE40 +1.1%). The UK100 rose 0.17%, Switzerland (SUI20) traded flat due to weakness in defensive sectors such as pharmaceuticals, while France (FRA40 -0.1%) and Poland (W20: -0.8%) posted declines.

The U.S. dollar index is down 0.13% despite early gains, signaling an uneven impact of Venezuela–U.S. tensions on safe-haven demand. Sterling leads FX gains (GBPUSD +0.6%, EURGBP -0.45%), with the Australian and New Zealand dollars also strong (AUDUSD +0.4%, NZDUSD +0.5%). EURUSD is flat near 1.172.

Precious metals have resumed their rally despite the lack of a clear return in risk aversion. Platinum leads gains (+6.5%), gold rises 2.6% to USD 4,443 per ounce, and silver advances 5.5% to USD 76.62 per ounce.

Oil rebounded from a two-week low and moved into positive territory (Brent +1.75%, WTI +1.9%). Natural gas fell 4.1% on renewed warmer January weather forecasts and rising supply.

Cryptocurrencies are also trading higher. Bitcoin gains 3.15% to USD 94,131, while Ethereum rises 2.1% to USD 3,205.