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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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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.
Dow closes up 868 points as stocks rally on Iran optimism | Honolulu Star-Advertiser
The benchmark S&P 500 and the tech-heavy Nasdaq each rallied to their third record close in a row today, while the blue-chip Dow marked its highest finish since late February, as investors cheered Iran’s decision to open the Strait of Hormuz and were optimistic it could reach a deal with the United States to end their war.
·Honolulu, United States
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Coverage Details
Total News Sources9
Leaning Left2Leaning Right1Center5Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 25%
C 63%
12%
Factuality
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