<p>Jan 5 (Reuters) &#8211; Wall Street climbed on Monday, with the Dow Jones Industrial Average hitting an all-time high thanks to surging financial shares, while energy firms jumped after a U.S. military strike that captured Venezuelan President Nicolás Maduro.</p>
<p>Investors bet Washington&#8217;s move against Venezuela&#8217;s leadership would allow U.S. firms access to the world&#8217;s largest oil reserves. A U.S. embargo on Venezuelan oil remained in full effect, U.S. President Donald Trump said.</p>
<p>The S&amp;P 500 energy index rose to its highest since March 2025 and was last up 2.5%, with heavyweights Exxon Mobil rising 2.4% and Chevron jumping 5.8%.</p>
<p>Weapon manufacturers also advanced after Washington&#8217;s military action. Lockheed Martin rose 2.8% and General Dynamics climbed 3.2%, while the S&amp;P 500 aerospace and defense index rose 1.8% to a record high.</p>
<p>&#8220;Energy stocks are really benefiting from the expectation that President Trump is intending to send them in to do more investment in Venezuela and ultimately make more money for themselves,&#8221; said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management in Seattle.</p>
<p>&#8220;The lack of permanent boots on the ground, the fact that we&#8217;re not permanently engaged, means the broader equity markets are able to set aside what might have been fears of a prolonged engagement,&#8221; Haworth said.</p>
<p>Tesla climbed 4.2% after seven straight sessions of losses. Nvidia dipped 0.6%.</p>
<p>The S&amp;P 500 was up 0.76% at 6,910.73 points.</p>
<p>The Nasdaq gained 0.76% to 23,411.49 points, while the Dow Jones Industrial Average was up 1.64% at 49,174.91 points.</p>
<p>The S&amp;P 500 financials index rose 2.7% as investors looked to upcoming quarterly reports. Analysts on average see S&amp;P 500 financial companies growing their earnings 6.7% year-over-year in the December quarter.</p>
<p>Goldman Sachs rose 4.8% and JPMorgan Chase added 3.4%, with both banks hitting record highs.</p>
<p>&#8220;The mood has been favoring financial stocks in recent days and as people look beyond tech, this is a sector many are choosing to look toward,&#8221; said Steve Sosnick, chief market analyst at Interactive Brokers.</p>
<p>Wall Street&#8217;s main indexes posted double-digit gains in 2025 for the third consecutive year, a run last seen in 2021.</p>
<p>Data showed U.S. manufacturing contracted more than expected in December, extending a 10-month slump.</p>
<p>The spotlight will now be on the monthly nonfarm payrolls on Friday, which could influence the Federal Reserve&#8217;s monetary policy in 2026.</p>
<p>Markets are pricing in about 60 basis points of interest rate easing this year, according to LSEG.</p>
<p>Cryptocurrency-linked shares advanced as bitcoin hit a more than three-week high.</p>
<p>Strategy, formerly MicroStrategy, climbed 4.6%, while Coinbase gained 8.6%. Goldman Sachs upgraded Coinbase to &#8220;buy&#8221; from &#8220;neutral.&#8221;</p>
<p>Advancing issues outnumbered falling ones within the S&amp;P 500 by a 2.4-to-one ratio.</p>
<p>The S&amp;P 500 posted 58 new highs and 10 new lows; the Nasdaq recorded 103 new highs and 45 new lows.</p>
<p>(Reporting by Purvi Agarwal and Nikhil Sharma in Bengaluru, and by Noel Randewich in San Francisco; Editing by Shinjini Ganguli and David Gregorio)</p>

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