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US markets end higher on Monday
Jan-06-2026

The US markets ended higher on Monday as investors looked past the report released by the Institute for Supply Management (ISM) which showed its reading on U.S. manufacturing activity unexpectedly decreased in the month of December. The ISM said its manufacturing PMI edged down to 47.9 in December after slipping to 48.2 in November, with a reading below 50 indicating contraction. Meanwhile, street had expected the index to inch up to 48.3. Besides, significant strength in shares of energy giant Chevron, which soared 5.1 percent, helped Dow close over one percent. Chevron, which is one of the leading private oil companies in Venezuela, surged following a U.S. attack on the country that led to the capture of President Nicolás Maduro. The price of crude oil also shot up in reaction to the news, contributing to substantial strength among oil service stocks. Reflecting the strength in the sector, the Philadelphia Oil Service Index spiked by 5.5 percent amid optimism about potential gains from rebuilding Venezuela's oil infrastructure.

Moreover, gold stocks saw considerable strength, as the price of the precious metal jumped due to its appeal as a safe haven amid increased geopolitical tensions. Further, considerable up move has been seen in Financial, airline and retail stocks, while utilities and pharmaceutical stocks moved sharply lower.

Dow Jones Industrial Average jumped 594.79 points or 1.23 percent to 48,977.18, Nasdaq advanced 160.19 points or 0.69 percent to 23,395.82 and S&P 500 climbed 43.58 points or 0.64 percent to 6,902.05.

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