US Stock Market: Wall Street indexes hit record highs as oil falls with Strait of Hormuz declared open
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- Abbas Araqchi announced the Strait of Hormuz is "completely open" for commercial vessels after a ceasefire agreement in Lebanon.
- Donald Trump signaled possible weekend talks with Tehran and a potential peace deal to end the Iran war.
- Bob Doll (Crossmark CEO) said the oil price drop eases inflation concerns and supports market optimism despite no signed U.S.-Iran deal.
- Nick Johnson (Willis Johnson & Associates) noted that falling energy prices boost small‑cap margins, helping the Russell 2000 hit a record close.
- Erik Bethel (Mare Liberum) warned that war‑risk insurance, mines, and enforcement uncertainty still threaten shipping logistics.
- Netflix shares fell 9.7% after a weak earnings forecast and the departure of co‑founder Reed Hastings.
- Royal Caribbean and Carnival led consumer discretionary gains, rising 7.3% and 7% respectively.
- United Airlines powered industrials up 1.8% with a 7% jump.
- Exxon Mobil and Chevron dragged the energy sector down 2.9%, falling 3.6% and 2.2% respectively.
Why it matters: Oil prices fell >11%, lifting the S&P 500 4.53% this week for investors.
