US Stocks Rise as Oil Gains on Maduro Ouster | The Close 1/5/2026

Watch on YouTube ↗  |  January 06, 2026 at 00:11  |  1:32:34  |  Bloomberg Markets
Speakers
Amrita Sen — Director of Research, Energy Aspects
Norah Mulinda — Market Reporter, Bloomberg
Don Burnette — Founder, Kodiak AI
Dana D'Auria — Co-Chief Investment Officer, Envestnet
Rebecca Babin — Senior Energy Trader, CIBC Private Wealth
Mandeep Singh — Senior Analyst, Bloomberg Intelligence
David Portilla — Partner, Davis Polk & Wardwell
Jensen Huang — CEO, NVIDIA
Tim Wu — Professor, Columbia Law School
Kevin Kajiwara — Co-President, Teneo
Ryan Berg — Director of the Americas Program, CSIS
Tim Stenovec — Anchor/Co-Host, Bloomberg TV & Radio

Summary

U.S. stocks rose on the first trading day of 2026, led by energy and defense names after the U.S. ouster of Nicolas Maduro, while tech and small caps also gained. Oil rose on short-term supply concerns, with Chevron singled out for its Venezuela exposure, though analysts warned Venezuela's production recovery will take years and require massive investment. Guests also discussed AI capex and Big Tech leadership, gold as a safe haven, crypto regulation as a key catalyst, and autonomous trucking at CES.

  • S&P 500 and Nasdaq gained; Dow hit a record high.
  • Oil and energy stocks rallied after Maduro's ouster; Chevron was a notable winner.
  • Analysts cautioned Venezuela oil production recovery will be slow and costly.
  • Big Tech and AI capex remain key market drivers for 2026.
  • Gold was framed as a safe haven amid inflation and geopolitical risk.
  • Crypto was seen as a risk asset; market structure legislation is a key catalyst.
  • Nvidia at CES highlighted physical AI and robotics.
  • Autonomous trucking company Kodiak AI discussed scaling with Bosch.
Ideas
Amrita Sen Director of Research, Energy Aspects 5:31
Short-term Brent bullish, oversupply caps rallies.
Short-term oil is bullish because the U.S. blockade and sanctions remain in place, Venezuelan exports have been halved, and the market is extremely short—with the largest Brent short position in 10 years—creating a technical rally. However, the broader market is oversupplied, so significant sustained price rallies are unlikely.
BNO HIGH
Don Burnette Founder, Kodiak AI 19:34
Kodiak AI scaling driverless truck deployment.
Kodiak AI is partnering with Bosch to gain manufacturing scale, is deploying 10 driverless trucks in Q3 and expects to scale into 2026; demand exceeds manufacturing capacity, and it aims to remove safety observers in H2 2026 with a track record of hitting milestones.
Kodiak AI MED
Norah Mulinda Market Reporter, Bloomberg 35:16
Chevron has Venezuela edge versus rivals.
Chevron has maintained an on-the-ground presence in Venezuela, giving it a quiet advantage over competitors and making it the clear frontrunner stock as investors price in a long-term revival of Venezuela's energy sector.
CVX HIGH
Dana D'Auria Co-Chief Investment Officer, Envestnet 39:37
Big Tech remains dominant market driver.
Big Tech and AI capex remain the dominant market driver; the market will likely look past Venezuela, and for the average investor these themes are far more significant than geopolitical noise, though the key question for 2026 is whether AI productivity and payoffs materialize.
XLK AI-SECTOR MED
Dana D'Auria Co-Chief Investment Officer, Envestnet 40:44
Defense stocks benefit from geopolitical tension.
Geopolitical tensions and U.S. actions in Venezuela are specific stock catalysts that benefit defense stocks and support the gold case, though for the average investor these are less significant than AI and Big Tech capex.
ITA LOW
Dana D'Auria Co-Chief Investment Officer, Envestnet 42:10
Gold safe haven amid inflation risks.
With geopolitical and inflation concerns, gold and silver can act as safe-haven ballast alongside a growth barbell; if inflation perks up, that is another reason to own gold, though higher rates could pressure growth.
GLD SILVER MED
Rebecca Babin Senior Energy Trader, CIBC Private Wealth 69:56
Canadian oil sands face Venezuela competition.
Canadian oil sands producers compete directly with Venezuelan heavy crude; if Venezuela supply increases, Canadian oil sands companies are most likely to be negatively impacted, and they were already falling on the day.
Canadian oil sands MED
Mandeep Singh Senior Analyst, Bloomberg Intelligence 76:47
Nvidia open-source push into physical AI.
Nvidia is not just supplying chips but also open-sourcing models and expanding beyond language models into physical AI, a strategy that should benefit humanoid robotics and physical AI applications.
NVDA Humanoid robotics MED
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This Bloomberg Markets video, published January 06, 2026, features Amrita Sen, Don Burnette, Norah Mulinda, Dana D'Auria, Rebecca Babin, Mandeep Singh discussing BNO, Kodiak AI, CVX, XLK, AI-SECTOR, ITA, GLD, SILVER, Canadian oil sands, NVDA, Humanoid robotics. 8 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Amrita Sen, Don Burnette, Norah Mulinda, Dana D'Auria, Rebecca Babin, Mandeep Singh  · Tickers: BNO, Kodiak AI, CVX, XLK, AI-SECTOR, ITA, GLD, SILVER, Canadian oil sands, NVDA, Humanoid robotics