Stock Market Update

Equity futures point to a higher opening after a mostly higher finish on Friday that still left the major averages lower across the board for the week. 

There are some notable moves in the premarket as investors react to the capture of Venezuelan President Nicolas Maduro by U.S. armed forces. Chevron (CVX 165.50, +9.60, +6.2%), which is the only U.S. company that still has a presence in Venezuela, is nicely higher, while several oil service companies such as Halliburton (HALI 31.72, +2.12, +7.2%) see even wider gains. 

Despite the gains in the energy sector, oil prices have remained relatively stable as the global supply of oil remains strong. 

Secretary of State Marco Rubio told NBC News that the U.S. is not at war with Venezuela, with Axios reporting that the country's interim leader, Delcy Rodriguez, has vowed to cooperate with President Trump after he threatened a second strike if they "do not behave."

Besides a smattering of corporate news items, headlines are relatively quiet elsewhere as the market gears up for its first full trading week of the new year. 

The market will receive the December ISM Manufacturing Index (Briefing.com consensus 48.4%) at 10:00 a.m. ET.

In corporate news:

• Republicans and Democrats are both signaling a government shutdown will be avoided on January 30, according to Politico.
• A clean extension of Affordable Care Act subsidies is likely dead on arrival in the Senate, even if it passes the House, according to NBC News. 
• Paramount Skydance (PSKY 13.25, +0.07, +0.5%) is reportedly running out of patience amid increased offers for Warner Brothers (WBD 28.50, -0.01, -0.0%), according to The New York Post. 
• Samsung aims to increase artificial intelligence mobile devices to 800 million this year, according to Reuters. 

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a higher note with Japan's Nikkei (+3.0%) approaching its record high from October. Japan's Nikkei: +3.0%, Hong Kong's Hang Seng: UNCH, China's Shanghai Composite: +1.4%, India's Sensex: -0.4%, South Korea's Kospi: +3.4%, Australia's ASX All Ordinaries: UNCH.

In news:

• President Trump repeated that he plans to travel to China in April.
• Minimax, a competitor to DeepSeek, is expected to have a strong exchange debut in Hong Kong.
• Goldman Sachs expects China's GDP to grow about 4.8% in 2026.
• Honda is considering a production pause in China due to chip shortages.
• Japan's Manufacturing PMI emerged from contraction in the final reading for December (50.0).

In economic data:

• China's December RatingDog Services PMI 52.0, as expected (last 52.1)
• Japan's December Manufacturing PMI 50.0 (expected 49.7; last 48.7)
• Singapore's November Retail Sales 0.0% m/m (last 2.3%); 6.3% yr/yr (last 4.4%)

Major European indices trade mostly higher with military contractors among the leaders. STOXX Europe 600: +0.4%, Germany's DAX: +0.7%, U.K.'s FTSE 100: +0.2%, France's CAC 40: +0.1%, Italy's FTSE MIB: +0.6%, Spain's IBEX 35: -0.2%. 

In news:

• There are growing worries that the unemployment rate in the U.K. could reach an 11-year high in 2026.
• Asset manager Ashmore Group has shown strength in the U.K. after the weekend capture of Venezuela's Nicolas Maduro.

In economic data:

• U.K.'s November BoE Consumer Credit GBP2.077 bln (last GBP1.713 bln). November Mortgage Lending GBP4.49 bln (expected GBP4.80 bln; last GBP4.16 bln) and November Net Lending to Individuals GBP6.60 bln (expected GBP5.20 bln; last GBP5.40 bln)
• Spain's December Unemployment Change -16,300 (expected 5,700; last -18,800)
• Swiss November Retail Sales 2.3% yr/yr (expected 2.5%; last 2.2%). December Manufacturing PMI 45.8 (expected 49.9; last 49.7)