Oil companies and banks lift US stock market

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Oil companies and banks lift US stock market
Photo: Mark Lennihan/AP/TT

The New York Stock Exchange rose on Monday, boosted by gains in oil and bank stocks.

Shares in Chevron, the only American oil company operating in Venezuela, rose 5.3 percent. Competitor ExxonMobil rose 2.3 percent.

The gains came after President Donald Trump said the United States, along with American companies, would take over Venezuela's oil industry. He made the statement after the country's president, Nicolás Maduro, was captured in Caracas by U.S. forces on Saturday. Maduro was then taken to New York, where he was put on trial.

Other winners on Wall Street were some of the big banks: Bank of America and JPMorgan Chase rose 1.6 and 2.6 percent, respectively.

The broad S&P 500 index rose 0.6 percent, the Dow Jones industrial average rose 1.2 percent, and the Nasdaq's technology-heavy composite index rose 0.7 percent.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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