SLB(NYSE:SLB), a global provider of technology and services for the energy industry, closed Monday’s session at $43.80, up 8.96%. SLB IPO'd in 1981 and has grown 245% since going public. Trading volume reached 52.9 million shares, coming in about 235% above its three-month average of 15.8 million shares.
Monday’s moves followed Venezuela-driven oil market volatility and a premarket surge in oilfield-services stocks, with investors watching upcoming SLB results for 2026 spending signals.
How the markets moved today
The S&P 500(SNPINDEX:^GSPC) rose 0.64% to 6,903, while the Nasdaq Composite(NASDAQINDEX:^IXIC) added 0.69% to finish at 23,396. Oil and gas equipment peers also gained, with Halliburton(NYSE:HAL) growing by 7.84%, while Baker Hughes(NASDAQ:BKR) advanced 4.09%, reflecting broad strength across the sector on the Venezuela news.
What this means for investors
While world events have many potential outcomes, they can also drive stock movements in the short term. The news from over the weekend about the removal of Venezuela's Nicolás Maduro caused movement with many companies in the oil industry, including SLB. Some analysts recently lifted price targets, which also likely contributed to some of the recent stock surge. It's important to remember that there are a lot of unknowns when it comes to the future of the oil industry in Venezuela, which investors should take into consideration when making investment decisions.
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Jeff Santoro has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
