Wall Street indexes hit record highs as oil falls with Strait of Hormuz declared open
Oil prices fell more than 11% as Iran reopened the Strait of Hormuz and Trump said U.S.-Iran talks could begin this weekend.
- On Friday, April 17, 2026, the S&P 500 and Nasdaq Composite rallied to record closing highs for the third consecutive day, with the S&P gaining 1.2% to 7,126.06 and the Nasdaq rising 1.5% to 24,468.48.
- Iranian Foreign Minister Abbas Araqchi declared the Strait of Hormuz "completely open" for commercial traffic following a ceasefire, triggering a sharp 11% tumble in U.S. crude oil prices and easing inflation concerns.
- Energy sector shares slid 2.9% as investors rotated into travel and cyclical stocks, with cruise operators and airlines leading gains; Royal Caribbean and Carnival each rose roughly 7%.
- Lower crude prices are alleviating inflation concerns, shifting Federal Reserve rate-cut expectations; traders now see a roughly 60% probability the central bank will cut its benchmark rate by December.
- Markets remain cautious ahead of upcoming discussions between U.S. and Iranian officials, as analysts warn that supply conditions may remain tight due to shipping delays and ongoing geopolitical uncertainty.
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18 Articles
Wall Street hits new record highs
The benchmark S&P 500 and the tech-heavy Nasdaq rallied to their third record close in a row Friday, while the blue-chip Dow marked its highest finish since late February, as investors cheered Iran's decision to open the Strait of Hormuz…
Wall St. indexes jump as oil falls and strait opens
NEW YORK — The benchmark S&P 500 and the tech-heavy Nasdaq both rallied to their third consecutive record close April 17, while the blue-chip Dow marked its highest finish since late February, as investors cheered Iran's decision to open the…
Stock Market Today: Indexes Close Higher for 3rd Straight Week; Oil Dives After Iran's Foreign Minister Says Strait of Hormuz 'Completely Open'
Major stock indexes ended sharply higher for a third straight week and oil prices plummeted after Iran's foreign minister said that the important Strait of Hormuz shipping channel was "declared completely open" for the duration of the Israel-Lebanon ceasefire.
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