Dow Jones Rises 484.90 Points to Close at 49,462.08

Written by Emily J. Thompson, Senior Investment Analyst

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Updated: Jan 06 2026

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The major averages closed broadly higher for the second day in a row, with the Dow up more than 500 points as blue chip stocks appear to be creating a strong lift. Amazon rose, while other AI-related stocks also closed higher amid dozens of major announcements in the space at this year's Consumer Electronics Show. Still, some reluctance remains from traders as they await fresh near-term catalysts, especially as they look ahead to key economic data including employment reports later this week.Looking to commodities, gold prices were higher once again, with the "safe haven" asset inching toward the $4,500 mark. Oil prices were fractionally lower, meanwhile, ahead of this afternoon's API crude numbers.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nvidialaunched the, comprising six new chips designed to deliver "one AI supercomputer"VistraCogentrix Energy for $4BMicrochipraised its, with CEO Sanghi expecting a "fairly broad-based recovery" in most of the company's end marketsOneStreamby HG for $24 per share in cashElon Musk's xAI raised $20B in an, with Nvidiaand Ciscoparticipating in the round2. WALL STREET CALLS:Brinkerto Buy at UBSDeutsche BankShake Shackto Buy on early 2026 catalystsCore Scientificto Buy at BTIGShopifyto Peer Perform at Wolfe Research amid high expectationsChevronand Exxon Mobilto Sell at Freedom Capital3. AROUND THE WEB:Metahas named C.J. Mahoney as chief legal officer, Axios reportsEli Lillyis in advanced talks to acquire Ventyx Biosciencesfor more than $1B, WSJ reportsIntelsaid it intends to launch an "entire handheld gaming platform with Panther Lake" chips later in 2026, Verge reportsKKR, Warburg Pincus, and EQT Partners are among the bidders looking to acquire TPG's Southeast Asia school business, WSJ reportsEniand Repsolhave supplied Venezuela with gas and naphtha for several years, which were used to dilute the country's heavy oil for transport, but the companies are struggling to recover payments of about $6B from the country and are facing indifference from U.S. officials, FT says4. MOVERS:Alumsincreases after announcing Phase 3 trial of envudeucitinibTerrestrial Energygains after executing anwith the U.S. DOE for Project TETRAAevahigher after its Frequency Modulated Continuous Wave 4D LiDAR technology has beenDRIVE Hyperion autonomous vehicle reference platformStaar Surgicallower after announcing its intention towith AlconSoFi Technologiesfalls after BofAof the stock with an Underperform rating5. EARNINGS/GUIDANCEAngioDynamics, with CEO Jim Clemmer commenting, "We delivered an excellent second quarter"Trinity Industriesraised itsNewton GolfprovidedJFB Construction, with CEO Joseph Basile, III, commenting, "Our growth in 2025 represents ongoing projects in several key business verticals"Energy Transfer LPprovidedINDEXES:The Dow rose 484.90, or 0.99%, to 49,462.08, the Nasdaq gained 151.35, or 0.65%, to 23,547.17, and the S&P 500 advanced 42.77, or 0.62%, to 6,944.82.

CVX

$166.26+Infinity%1D

Analyst Views on CVX

Wall Street analysts forecast CVX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CVX is 177.50 USD with a low forecast of 158.00 USD and a high forecast of 204.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

16 Analyst Rating

13 Buy

3 Hold

0 Sell

Strong Buy

Current: 166.160

Low

158.00

Averages

177.50

High

204.00

Current: 166.160

Low

158.00

Averages

177.50

High

204.00

Piper Sandler

Ryan Todd

Overweight

downgrade

$178 -> $174

Al Analysis

2026-01-08

Reason

Piper Sandler

Ryan Todd

Price Target

$178 -> $174

Al Analysis

2026-01-08

downgrade

Overweight

Reason

Piper Sandler analyst Ryan Todd lowered the firm's price target on Chevron to $174 from $178 and keeps an Overweight rating on the shares. The firm says that entering 2026, while the chairs have shuffled around a bit, the song remains similar to twelve months ago - a bearish crude outlook that is likely to make it difficult for the sector to outperform the broader market. On the flip side, Piper sees the refining market as even better than 2025, driven by what it expects to be incrementally tighter S/D and crude differential tailwinds.

Freedom Capital

Sergey Pigarev

Hold -> Sell

downgrade

$165

2026-01-06

Reason

Freedom Capital

Sergey Pigarev

Price Target

$165

2026-01-06

downgrade

Hold -> Sell

Reason

Freedom Capital analyst Sergey Pigarev downgraded Chevron to Sell from Hold with a $165 price target. The "euphoria" in the U.S. oil and gas sector triggered by the U.S. operation in Venezuela is "unjustified," contends the analyst, who calls rising oil and gas equities amid declining oil prices "a dangerous game for investors." The sharp rally in U.S. oil and gas stocks over recent months shows little regard for the sector's negative fundamental backdrop, marked by falling oil prices and an oversupplied market, the analyst argues.

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Bernstein

Market Perform

maintain

$170 -> $172

2026-01-05

Reason

Bernstein

Price Target

$170 -> $172

2026-01-05

maintain

Market Perform

Reason

Bernstein raised the firm's price target on Chevron to $172 from $170 and keeps a Market Perform rating on the shares. The firm begins 2026 with a balanced view for oil. Bernstein expects choppiness in the near term and sees strength in the longer term.

Citi

Buy

downgrade

$185 -> $179

2026-01-05

Reason

Citi

Price Target

$185 -> $179

2026-01-05

downgrade

Buy

Reason

Citi lowered the firm's price target on Chevron to $179 from $185 and keeps a Buy rating on the shares. The firm updated the company's model to reflect higher downtime in the upstream business and better oil and gas prices.

About CVX

Chevron Corporation is an integrated energy company. The Company produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance its business and industry. The Company’s segments include Upstream and Downstream. Upstream operations consist primarily of exploring for, developing, producing and transporting crude oil and natural gas; liquefaction, transportation and regasification associated with LNG; transporting crude oil by major international oil export pipelines; processing, transporting, storage and marketing of natural gas; carbon capture and storage; and a gas-to-liquids plant. Downstream operations consist primarily of the refining of crude oil into petroleum products; marketing crude oil, refined products, and lubricants; manufacturing and marketing of renewable fuels, and transporting of crude oil and refined products by pipeline, marine vessel, motor equipment and rail car.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.