S&P 500 Closes Above 7,100 for First Time, Nasdaq Logs Longest Win Streak Since 1992
U.S. stocks surged on Friday after Iran declared the Strait of Hormuz “completely open,” coming on the heels of a ceasefire announcement between Israel and Lebanon. The developments boosted risk appetite as markets priced in a reduced risk of energy disruptions and broader regional escalation.
The Dow Jones Industrial Average jumped 869 points, or 1.8%. The S&P 500 rose 1.2% and crossed 7,100 for the first time, while the Nasdaq Composite gained 1.5%, with both benchmarks setting fresh all-time intraday highs. The Russell 2000 also hit a new high, with the small-cap index up about 2%.
In a post on X on Friday, Iranian Foreign Minister Seyed Abbas Araghchi wrote that “in line with the ceasefire in Lebanon,” passage for all commercial vessels through the Strait of Hormuz is “declared completely open for the remaining period of ceasefire,” via a coordinated route previously announced by Iran’s Ports and Maritime Organisation.
Trump had said on Thursday that Israel and Lebanon agreed to a 10-day ceasefire, which took effect at 5 p.m. ET. Together, the ceasefire and Hormuz headline reinforced a market narrative of de-escalation, supporting the latest leg higher in U.S. equities.
Source : Newsmaker.id
