Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.6%) has joined the DJIA (+1.0%) in notching a record high today, with the Nasdaq Composite (+0.6%) holding a similar gain. 

The energy sector's (-2.7%) retreat today now mirrors that of yesterday's advance, though the losses are more spread out than the previous gains. 

Chevron (CVX 156.61, -7.24, -4.42%), which is the only major U.S. oil company that operates in Venezuela, sits nearly even for the week (+0.2%) with today's loss. Meanwhile, more speculative oilfield services or refiner plays such as SLB (SLB 43.66, -0.14, -0.32%) (+8.6% WTD) and Valero Energy (VLO 178.29, -2.28, -1.26%) (+7.9% WTD) still hold strong week-to-date gains. 

Reuters reported that the Trump administration believes there are ways to quickly increase oil production in Venezuela, despite analyst estimates that it could take a number of years.