Dow rises 750 points in midday trading, S&P 500 and Nasdaq climb as energy stocks lead the broader market higher

[RoseTrellis]

Source: Marketwatch

Dow rises 750 points in midday trading, S&P 500 and Nasdaq climb as energy stocks lead the broader market higher

Read more: https://www.marketwatch.com/livecoverage/stock-market-today-dow-s-p-500-and-nasdaq-set-to-chase-record-highs-as-crude-slips/card/dow-rises-750-points-in-midday-trading-s-p-500-and-nasdaq-climb-as-energy-stocks-lead-the-broader-market-higher-G90A43iXXgM5OjSugf7j?mod=mw_quote_news

---

Goddamn ghouls out there capitalizing on the Venezuela crisis.
You better believe a shit load of insider trading happened as Drumph undoubtedly clued his buddies in to what he has in store for stolen oil…

[pwb]

1. The wealth Class are full of joy, as usual.

We should start taxing that wealth after the blue wave in November. IMO.

[CousinIT]

2. That's who Grumps McDumpy did it for: Wall St and the billionaires.

And the taxpayers are paying for the operation. They get NOTHING out of it.

[mahatmakanejeeves]

3. Not to nitpick the attack on the ghouls, but a lot of DUers have retirement money tied up in equities.

It you have some time, see where union pension funds are invested.

And good afternoon.

[yardwork]

7. Agreed, but the point still stands.

Some of us will get a few crumbs, others will get even less than nothing - but the insider crony billionaires at Mar a Lago on NYE got a hell of a lot of money from this inside tip.

No wonder Katie Miller and Secretary Noem were partying down.

[Cheezoholic]

12. And a lot of them have no choice of how or where they are invested n/t

[SARose]

4. This makes no sense

At 12:42 pm CT the price of sweet crude is $58.35/barrel.

Oil would have to be approximately $100/barrel to break even on Venezuela heavy crude. Yes, refineries along the Gulf Coast are tooled to process heavy crude, originally from Venezuela. However, most “heavy” crude refined along the Gulf Coast comes from US and Canadian shale.

Five energy market trends to track in 2026, the year of the glut

So two things

1) oil companies need stability to explore, drill, and refine oil. Not happening in Venezuela now and maybe not for a long time. Post Iraq War is a good example.

2) bringing Venezuela crude back into the market will take years. Lake Maracaibo is one huuuggge contaminated mess due to lack of maintenance. Same is true with most Venezuelan refineries.

The Chinese have already invested $1 billion to build the first off shore drilling platform in Lake Maracaibo in 50 years and to simply begin routine maintenance on existing refineries.

[TBF]

14. I still think mineral rights are the end game -

and that is something Elon Musk (and other tech bros) would be the most interested in ...

[turbinetree]

5. Didn't this also happen in the Iraq war BS............

[Faux pas]

6. Effers!

Greed is the deadliest sin.

[mpcamb]

8. Stockbrokers and stock markets love war...

at least in the early stages.

[Torchlight]

9. Lotta people thought Laser Disk would be the next big thing.

I admit to having purchased one back in the day and holding bragging rights for all of three weeks. Leading indicators do a couple of things really well, but not much else.

[iemanja]

10. Disgusting.

[LymphocyteLover]

11. Exactly. Also infuriating. A totally terrible message to send to this insane administration.

[mdbl]

13. And on the same day I received a letter from my gas utility

my bill is going up 20%.