Investors bet Washington’s move against Venezuela’s leadership would allow U.S. firms access to the world’s largest oil reserves. A U.S. embargo on Venezuelan oil remained in full effect, U.S. President Donald Trump said.

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“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,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management in Seattle.

“The lack of permanent boots on the ground, the fact that we’re not permanently engaged, means the broader equity markets are able to set aside what might have been fears of a prolonged engagement,” Haworth said.

The S&P 500 was up 0.76% at 6,910.73 points.

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.

“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,” said Steve Sosnick, chief market analyst at Interactive Brokers.

Wall Street’s main indexes posted double-digit gains in 2025 for the third consecutive year, a run last seen in 2021.

The spotlight will now be on the monthly nonfarm payrolls on Friday, which could influence the Federal Reserve’s monetary policy in 2026.

Markets are pricing in about 60 basis points of interest rate easing this year, according to LSEG.

Cryptocurrency-linked shares advanced as bitcoin hit a more than three-week high.

The S&P 500 posted 58 new highs and 10 new lows; the Nasdaq recorded 103 new highs and 45 new lows.

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