Stocks post historic rally as Strait of Hormuz is declared open

U.S. equities rallied to fresh records as the S&P 500 notched its first close above 7,100, lifting broader markets. The S&P stood around 7,126 (+1.2%) while the Nasdaq-100 extended a 13-day winning streak—the longest since 1992—on news that Iran declared the Strait of Hormuz open, easing a key geopolitical risk. The moves reflect a bullish market reaction to reduced Middle East tensions, driving risk-on flows and pushing major indices to new highs.