Cautious Investors Weigh Options as Global Markets Trade Steady

U.S. stocks rallied on hopes for a cease-fire in the Persian Gulf, sending benchmark indexes to fresh highs. The S&P 500 crossed 7100 for the first time and closed at a record for a third straight day, while the Nasdaq and Dow also finished at or near records as tech shares led the advance. Oil plunged on Iran’s declaration that the Strait of Hormuz was open and easing geopolitical risk, with Brent down ~9.1% and WTI down ~11%, which helped push Treasury yields and the dollar lower. Markets reacted positively to peace-progress optimism, though comments about a continued U.S. naval blockade left some shipping uncertainty.