Wall Street 30 Soars to 49,600 on Hormuz Reopening Rally

Wall Street 30 has rocketed over 1,000 points to around 49,600, up 2%, after Iran's ceasefire deal fully reopened the Strait of Hormuz for shipping. The surge built on a 900-point jump on April 16 when Iran first declared the strait 'completely open,' driving oil prices down 10% and sparking a risk-on rally across stocks, with S&P 500 up 1.2% and Nasdaq 1.4%. Bitcoin climbed 5% above $78,000, while the index now stands 3.3% higher year-to-date and eyes its 52-week high of 50,512.