Morning Business Report: Markets react to Maduro’s removal as airlines resume Caribbean flights

Global markets are reacting to major political, economic, and consumer developments as investors digest the fallout from the removal of Venezuela’s longtime leader

(LILAMAX)- Global markets are reacting to major political, economic, and consumer developments as investors digest the fallout from the removal of Venezuela’s longtime leader and other headline-making moves at the start of the new trading week.

Investors, particularly in the oil sector, are closely watching developments following the removal of Nicolás Maduro as leader of Venezuela. The country holds roughly one-fifth of the world’s proven oil reserves — more than even Saudi Arabia — according to the OPEC, making political shifts there especially significant for global energy markets.

Meanwhile, new questions are emerging about suspicious market activity in the hours leading up to Maduro’s capture. According to reporting from the Wall Street Journal, betting markets tied to whether Maduro would lose power surged shortly before 10 p.m. Eastern time on Friday, after hovering in the low single digits for weeks.

The report says a newly created account invested roughly $30,000 on Maduro’s removal late Friday. After Maduro was taken into custody Saturday morning, that same investor reportedly netted more than $400,000. The betting platform Polymarket did not immediately respond to a request for comment from Axios over the weekend.

On Wall Street, stocks finished higher Friday, led by gains in chipmakers. Both the Dow Jones Industrial Average and the S&P 500 moved up, marking a reversal from recent history. The S&P 500 had finished lower on the first trading day of each of the past three years.

In travel news, U.S. airlines have resumed Caribbean flights after airspace closures tied to U.S. strikes on Venezuela were lifted. The restrictions had stranded tens of thousands of travelers during the post-holiday rush, triggering widespread cancellations across the region. Some travelers complained on X that they were unable to find available flights back to the U.S. until later this week.

And in consumer news, Steak ’n Shake is kicking off America’s 250th anniversary celebration early. The company is offering a $2.50 “Patriot Milkshake” throughout January, featuring whipped cream, a cherry, red, white, and blue sprinkles — and a small American flag topping the frozen treat.