"Venezuela has the biggest oil reserves in the world. Venezuela was a U.S. oil colony. All of our oil was going up to the north, and the gas was being used by the U.S. and not by us."  ✍️

- Hugo Chávez

✅ U.S. stocks shrug off Venezuela worries with the Dow and the S&P 500 lifting to new heights on Tuesday, while Magnificent Seven” members Amazon and Nvidia lifted the three major averages.

✅ Ousted Venezuelan leader Nicolas Maduro and his wife pleaded not guilty in Manhattan federal court to U.S. drug and weapons charges, calling their capture by U.S. forces an illegal “kidnapping.”

✅ Nvidia plans to begin testing a Level 4 robotaxi service as early as 2027, signaling a deeper push into autonomous vehicles beyond its core AI chip business.

✅ A U.S. judge ruled that Amazon must face a class-action lawsuit alleging it allowed excessive price increases on essential goods during the COVID-19 pandemic.

✅ Ford reported a 6% increase in U.S. vehicle sales in 2025, marking its strongest annual performance since before the pandemic despite EV sales declines.

✅ Meta postponed the international rollout of its Ray-Ban Display AI glasses as limited supply and strong U.S. demand pushed waitlists into 2026.

MARKET SNAPSHOT

↗ Dow                            49,462.08                      + 0.99%
↗ Nasdaq                       23,547.17                      + 0.65% 
↗ S&P                              6,944.82                      + 0.62%

Maduro and Wife Appear in New York Court, Claim ‘Kidnapping’ as U.S. Drug Charges Move Forward

Ousted Venezuelan President Nicolas Maduro and his wife, Cilia Flores, made their first appearance in a Manhattan federal court Monday, pleading not guilty to charges of drug trafficking, narco-terrorism, and weapons violations. The couple was captured Saturday by U.S. forces in Venezuela on orders from President Donald Trump and transported to New York. Maduro’s attorney, Barry Pollack, who previously represented WikiLeaks founder Julian Assange, argued that Maduro is the head of a sovereign state and questioned the legality of his military apprehension. Flores, represented by former federal prosecutor Mark Donnelly, also pleaded not guilty and requested medical attention for injuries sustained during the capture, including possible broken ribs and a forehead bruise. Both agreed to remain in custody without bail for now, with a potential future bail application.

The indictment accuses Maduro of using his government position to facilitate the importation of tons of cocaine into the United States, partnering with traffickers and narco-terrorist groups over decades. Flores is alleged to have accepted bribes in connection with Venezuela’s National Anti-Drug Office. Prosecutors describe Maduro as the “illegitimate ruler” of Venezuela whose corrupt regime enabled massive narcotics-based operations benefiting officials and violent traffickers.

Next court proceedings are scheduled for March 17, with Maduro and Flores continuing to deny all charges.

Nvidia Targets 2027 Launch for Robotaxi Service as Self-Driving Push Accelerates

Nvidia on Monday announced plans to test a robotaxi service with an unnamed partner as early as 2027, underscoring the chipmaker’s ambition to expand into autonomous vehicles. The service will feature “Level 4” self-driving cars, capable of operating without human intervention in defined areas.

 Nvidia officials have not disclosed the service’s location or partner but said initial availability will be limited as the company and its partner build operational experience.

Nvidia has been developing automotive technology under its Drive brand since 2015, though it remains a small portion of total revenue, generating $592 million—roughly 1%—in the most recent quarter.

The company provides chips, AI processors, and simulation software that help carmakers train and optimize self-driving systems. Mercedes-Benz plans to integrate Nvidia’s technology into vehicles scheduled for late 2026, allowing navigation in complex urban environments.

CEO Jensen Huang said robotics, including self-driving cars, is Nvidia’s second-largest growth area after AI, envisioning a future where a billion autonomous vehicles could operate on the road, either as privately owned cars or robotaxi fleets.

Amazon Must Face Price-Gouging Lawsuit, U.S. Judge Rules

A U.S. judge on Monday denied Amazon’s request to dismiss a proposed class-action lawsuit accusing the online retailer of price gouging during the COVID-19 pandemic.

U.S. District Judge Robert Lasnik in Seattle ruled that Washington state consumer protection laws could apply to the claims, rejecting Amazon’s argument that the laws were too vague to cover the alleged conduct.

The lawsuit alleges that Amazon allowed third-party sellers—and itself—to charge excessively high prices for essential items when consumers had few alternatives.

 The complaint cites price spikes of 233% on Aleve tablets, 1,044% on Quilted Northern toilet paper, 1,523% on Arm & Hammer baking soda, and 1,800% on certain face masks. Plaintiffs are seeking damages for purchases made between January 31, 2020, and October 20, 2022, when COVID-related states of emergency ended. Lawyer Steve Berman called the ruling “an important win for consumers,” noting that internal Amazon documents suggested the company was aware of price-gouging issues but did not fully prevent them.

Ford Posts Best U.S. Sales Since 2019 as 2025 Deliveries Rise 6%

Ford Motor reported a strong rebound in U.S. vehicle sales, posting its best annual performance since 2019. The automaker said Tuesday that sales rose 6% in 2025, reaching 2.2 million vehicles sold nationwide.

Fourth-quarter sales increased 2.7% to more than 545,200 units, helping cap a year that aligned with broader industry growth. Ford last surpassed this annual total in 2019, when it sold 2.42 million vehicles in the U.S. The company finished 2025 as the nation’s third-largest automaker, trailing Toyota Motor and General Motors.

Executives credited consistent demand throughout the year, with Ford outperforming the overall industry for 10 consecutive months. However, fourth-quarter results were partially affected by production disruptions tied to fires at a New York facility operated by aluminum supplier Novelis, which impacted F-Series pickup output. Despite this, Ford said it expects to recover much of the lost production by adding capacity, including an additional shift at a Michigan plant.

F-Series truck sales climbed 8.3% for the year, though they slipped 3.1% in the fourth quarter. Meanwhile, Ford’s electric vehicle sales declined sharply, falling 14.1% for the year and more than 50% in the final quarter. Growth in hybrid sales—up nearly 22%—helped offset those losses, while gasoline-powered vehicles continued to account for the majority of Ford’s U.S. sales volume.

Meta Platforms said Tuesday it is postponing the international rollout of its Ray-Ban Display AI glasses, citing limited inventory and unexpectedly strong demand in the United States.

The company had planned to introduce the smart glasses in the U.K., France, Italy and Canada early this year, but said those plans are now on hold while it prioritizes U.S. customers and reassesses global availability.

“Since launching last fall, we’ve seen an overwhelming amount of interest,” Meta said in a blog post, adding that waitlists for the product now extend into 2026.

Meta CEO Mark Zuckerberg unveiled the $799 glasses in September, marking the company’s first consumer-ready artificial intelligence eyewear. The glasses allow users to watch videos, interact with apps and respond to messages, and are operated through a wristband that uses neural-based controls.

The product is the latest result of Meta’s long-standing partnership with Ray-Ban owner EssilorLuxottica, which began in 2019 and was extended under a long-term agreement in 2024. EssilorLuxottica previously said the collaboration helped boost its revenue in the third quarter.

Meta joins a growing list of tech companies pushing into the smart glasses market.

Alphabet announced a $150 million partnership with Warby Parker earlier this year, while OpenAI is reportedly exploring AI glasses in collaboration with Apple.

📉 ON THE MOVE AND NOTABLES 📈

✔️ Over the weekend, the U.S. military carried out a high-profile operation resulting in the capture of Venezuelan leader Nicolás Maduro and his wife, Cilia Flores. The pair were transported to New York, where they now face charges including narco-terrorism conspiracy and related offenses.

✔️ Financial markets reacted calmly to developments in Venezuela. U.S. equity markets closed higher, with the Dow Jones outperforming the S&P 500 and Nasdaq.

✔️ Bond yields are edging slightly higher, with the 10-year U.S. Treasury yield opening around 4.17% and the 2-year yield rising to 3.47%.

✔️ In commodity markets, oil and precious metals such as gold and silver are moving higher on Tuesday, as investors continue to digest recent geopolitical developments between the U.S. and Venezuela.

✔️ Shares of major U.S. energy companies also advanced, with firms such as Chevron, Marathon, and Valero Energy posting gains of roughly 5% to 10% on Monday.

✔️ President Donald Trump and his team are considering “a range of options” in order to acquire Greenland, including “utilizing the U.S. Military,” the White House said.

✔️ Recent labor data has sent mixed signals. The unemployment rate rose to 4.6%, a four-year high, though largely for constructive reasons as labor force participation increased.

✔️ Chevron appears best positioned among global oil majors to benefit most immediately from renewed U.S. access to Venezuelan oil, according to Bloomberg. However, a full-scale recovery of Venezuela’s oil industry would likely take many years and require investment exceeding $100 billion, according to a public policy expert cited by Bloomberg.

✔️ Tesla (TSLA) reported fourth-quarter vehicle deliveries of 418,227, below analysts’ expectations.

✔️ Comcast (CMCSA) dropped while shares of its spinoff, Versant Media (VSNT) also fell, after the companies finalized their separation late Friday.

✔️ Defense stocks edged higher following the developments in Venezuela, with Lockheed Martin (LMT) rising just over 1% and Northrop Grumman (NOC) gaining slightly less.

✔️ Software startup NinjaOne has reached $500 million in annual recurring revenue with nearly 70% revenue growth year over year.

✔️ Vistra shares after the power-generation company announced plans to acquire Cogentrix Energy from Quantum Capital Group in a transaction valued at roughly $4 billion, including cash, equity and debt, according to Barron’s.

✔️ Microchip Technology rose after the chipmaker lifted its sales outlook for the recently completed quarter.

✔️ It’s only the third trading day of the new year, and semiconductor stocks have been flying higher, with Micron being one of the leaders. With Tuesday’s gains, the stock has risen about 17% year to date. 

✔️ Okta rallied after the cybersecurity company announced a $1 billion share repurchase program.

✔️ Homebuilder stocks came under pressure, with D.R. Horton and Lennar each slipping following downgrades, as Wells Fargo cut D.R. Horton to equal weight from overweight on margin concerns, while UBS downgraded Lennar to neutral from buy.

✔️ Under Armour rose after Fairfax Financial Holdings disclosed it continued to build a sizable stake in the apparel maker.

✔️ Bitcoin edged slightly lower early Tuesday but gained 4.8% on Monday as risk appetite improved. Bitcoin futures recorded their strongest close since mid-November.

✔️ Silver futures extended their rally.

✔️ Markets continue to price in a 16% chance of a January rate cut, according to the CME FedWatch Tool, unchanged from recent sessions.

💲What Else to Watch This Week💲

Attention now shifts to a heavy slate of U.S. economic data releases scheduled for the week ahead. Key reports include ADP private payrolls, ISM Services, JOLTS job openings, and factory orders on Wednesday; initial jobless claims and productivity and unit labor costs on Thursday; and the December nonfarm payrolls report on Friday.

Friday’s employment report is expected to show approximately 60,000 jobs added, consistent with recent sub-100,000 monthly gains, while the unemployment rate is projected to edge down to 4.5%.

Next week’s earnings season kicks off with JPMorgan Chase reporting on Tuesday.

🟢 Economic:

Wednesday (Jan. 7): ADP Employment Change, Business Inventories, EIA Crude Oil Inventories, Factory Orders, ISM Non-Manufacturing Index, JOLTs – Job Openings, MBA Mortgage Applications Index

Thursday (Jan. 8): Consumer Credit, Continuing Claims, EIA Natural Gas Inventories, Initial Claims, Productivity – Preliminary, Trade Balance, Unit Labor Costs – Preliminary, Wholesale Inventories

Friday (Jan. 9): Average Workweek, Building Permits, Hourly Earnings, Housing Starts, Nonfarm Payrolls, Unemployment Rate, University of Michigan Consumer Sentiment

🟢 Earnings:

Wednesday (Jan. 7): Albertsons Companies Inc. (ACI), Applied Digital Corp. (APLD), Apogee Enterprises Inc. (APOG), AZZ Inc. (AZZ), Cal-Maine Foods Inc. (CALM), Constellation Brands Inc. (STZ), Jefferies Financial Group Inc. (JEF), MSC Industrial Direct Co. (MSM), PriceSmart Inc. (PSMT)

Thursday (Jan. 8): Acuity Inc. (AYI), Aehr Test Systems (AEHR), Commercial Metals Co. (CMC), Greenbrier Companies Inc. (GBX), Lindsay Corp. (LNN), RPM International Inc. (RPM), TD Synnex Corp. (SNX)

Friday (Jan. 9): Anixa Biosciences Inc. (ANIX)

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