S&P 500, Nasdaq Futures Hold Firm After Dow Hits Record High As Investors Look Past Venezuela Risk

• Energy and megacap technology stocks led gains in the prior session.
• Gold and other precious metals advanced on safe-haven demand, while oil prices edged lower.
• Investors are watching Fed commentary and U.S. services PMI data for near-term policy and growth signals.

U.S. stock futures were marginally higher late Tuesday after a strong rally that pushed the Dow to a record, with equity markets showing little sign of risk aversion despite Venezuela-related geopolitical tensions.

As of 1.10 A.M. ET, S&P 500 futures were up 0.2%, Nasdaq-100 futures gained 0.3%, and Dow futures edged higher by 0.02%.

Dow Sets New Record As Energy And Tech Drive Gains

U.S. stocks jumped on Monday following a weekend seizure and ousting of Venezuelan President Nicolas Maduro that was immediately echoed in markets, with the situation further buoyed by President Donald Trump’s request to American energy companies to boost oil production in the country.

The Dow led the advance, climbing 595 points, or 1.2%, to 48,977. While the S&P 500 rose 0.6%, the Nasdaq 100 gained 0.8%.

Megacap technology stocks helped anchor the rally, with firms such as Tesla, Amazon and Palantir posting strong gains. Energy shares also surged. Oilfield-services firms like Baker Hughes jumped, while refiners including Valero and producers such as Chevron, ConocoPhillips and Exxon Mobil moved higher. 

The SPDR S&P 500 ETF Trust (SPY) rose 0.7%, the Invesco QQQ Trust (QQQ) gained 0.8%, and the SPDR Dow Jones Industrial Average ETF Trust (DIA) climbed 1.3%.

Gold Shines On Safe Haven Demand

Oil prices edged lower, with Brent crude futures down $0.17 at $61.59 a barrel, while U.S. West Texas Intermediate crude fell $0.21 to $58.11.

Gold extended its rally on Tuesday, rising 0.5% to $4,469.96 an ounce, while U.S. gold futures gained 0.7% to $4,481.30, as safe-haven demand picked up. Silver climbed 3.5%, and copper prices hit record highs on supply concerns.

Manufacturing Slump Weighs On Yields 

In bonds, U.S. 10-year Treasury yields dipped to about 4.16% after data indicated U.S. manufacturing activity fell more than expected in December and the sector contracted for a 10th straight month.

Ryan Detrick, chief market strategist at Carson Group, said on X that the S&P 500 is up 132% over the last six years, driven by sales growth, margin expansion and dividends. “This isn't a bubble is our take, it is a bull market being supported by the right things,” he wrote.

Among the catalysts for the day are remarks from Richmond Fed President Tom Barkin and the release of the final U.S. services PMI.

Asia Rides Wall Street’s Momentum 

Asian markets saw Wall Street’s gains extend into Tuesday’s session and continue their record rally. MSCI’s broad Asia-Pacific index gained 1.1% to another all-time high, led by Japan, South Korea and Taiwan. Hong Kong’s Hang Seng jumped 1.8%, while mainland Chinese blue chips added 1.2%.

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