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US Stock Market Highlights: US stocks surged to fresh record highs on Friday after Iran said the Strait of Hormuz would remain open, easing tensions in the US-Iran conflict.The S&P 500 rose 1.2% to close above 7,100 for the first time, marking its third straight record close. The Nasdaq Composite gained 1.5% to fresh all-time highs, while the Dow Jones Industrial Average jumped 1.8%, or more than 850 points.Oil prices slumped sharply, with Brent crude and West Texas Intermediate futures falling nearly 10% after the reopening announcement during the Israel-Lebanon ceasefire.Markets have rebounded swiftly from recent geopolitical shocks, led by technology stocks, while Bitcoin has surged roughly $10,000 so far this month.Meanwhile, Donald Trump said talks with Iran could begin as soon as this weekend and claimed Tehran had agreed to suspend its nuclear program.Megacap technology stocks are on track to extend their winning streak, with the Roundhill Magnificent Seven ETF rising more than 1% on Friday and heading for a third consecutive week of gains.The rally has been led by Tesla, which surged about 15% this week, while Microsoft jumped nearly 14%, marking its strongest weekly performance in years.The ETF has climbed over 8% this week and is up more than 14% in April, putting it on track for its best monthly performance since its launch in 2023.Risk-on sentiment swept across markets on Friday, lifting Bitcoin, gold, and silver as Middle East tensions showed signs of easing.Bitcoin surged more than 4% to trade near $78,000—its highest level since early February—breaking above its recent $65,000–$75,000 range.Meanwhile, gold climbed over 1.5%, supported by a weaker dollar, while silver jumped around 4% in the session.A total of 36 stocks in the S&P 500 hit new 52-week highs on Friday, highlighting the breadth of the ongoing market rally.Among the standout names, eBay and Hilton Worldwide traded at all-time highs since their respective IPOs, while Target climbed to levels last seen in March 2025.Financials also showed strength, with Bank of New York Mellon and State Street reaching record highs.In tech, Advanced Micro Devices and Dell Technologies touched all-time highs, while ON Semiconductor advanced to its highest levels since March 2024.Other notable movers included Simon Property Group, which hit levels not seen since 2016, and NiSource, which also reached record highs.Mary Daly, President of the Federal Reserve Bank of San Francisco, said she now favors a more patient approach on interest rates following the Iran conflict, despite earlier leaning toward cuts.Daly noted that monetary policy is currently “in a very good place”—slightly restrictive but not enough to weaken the labor market or allow inflation to run unchecked.She emphasized the need for a wait-and-see approach, adding that the Federal Reserve should assess incoming data and monitor how geopolitical tensions evolve before making any policy moves.Daly is a nonvoting member of the Federal Open Market Committee this year and is next set to vote in 2027.The sharp rebound in equities may be disguising underlying risks, according to Craig Johnson of Piper Sandler.Johnson noted that the market’s swift shift from oversold to overbought conditions in just 12 sessions masks a more fragile macro backdrop, particularly with crude oil prices hovering above $90 per barrel.While major indexes are nearing record highs, he flagged mixed technical signals—strong short-term momentum contrasted with weaker intermediate-term market breadth—as a sign the rally may lack durability.The divergence leaves equities on what he described as a “fragile technical foundation,” urging investors to stay selective and focus on higher-quality opportunitiesThe stock market rally is turning global once again, with equities outside the US climbing to fresh highs alongside Wall Street.The iShares MSCI ACWI ex U.S. ETF touched its first intraday record since late February, underscoring that the current uptrend is not limited to the US.A weaker US Dollar Index—down in nine of the past 10 sessions—has been a key driver, boosting returns across international markets.While the S&P 500 has surged about 12% over the past 13 sessions, several global markets have outperformed. Country-focused ETFs tracking South Korea, Taiwan, Greece, Poland, Chile and Turkey have all delivered stronger gains during the latest rally.

Investors should tread carefully despite the market rally following the reopening of the Strait of Hormuz, according to Doug Beath of Wells Fargo Investment Institute.

Beath noted that while markets are reacting positively to the resumption of oil flows, risks remain. Iran’s conditions, including designated shipping routes and the possibility of tanker tolls, add uncertainty, especially as the reopening is only guaranteed through the ceasefire period.

He emphasised that the broader outlook still hinges on how negotiations evolve, even as investors shift focus toward fundamentals such as earnings and inflation expectations.

Oil prices are on track for their worst weekly decline in six years after Iran said it would open the Strait of Hormuz during the ceasefire between Israel and Lebanon.

West Texas Intermediate crude futures plunged more than 14% on Friday, taking weekly losses to around 16%, the sharpest drop since April 2020.

Lower oil prices lifted risk sentiment, with the S&P 500 consumer discretionary sector rising 2.5% to lead gains. Cruise operators, including Royal Caribbean, Norwegian Cruise Line and Carnival, surged more than 9%.

Big Tech has reasserted leadership as markets push deeper into record territory, with the S&P 500 logging multiple record closes and momentum shifting firmly toward growth.

The Technology Select Sector SPDR Fund became the first major large-cap sector ETF to hit a fresh all-time high, while the Invesco S&P SmallCap Information Technology ETF also extended its rally to a fifth straight record.

Strength within semiconductors remains a key driver, with the iShares Semiconductor ETF notching multiple intraday highs and heading toward a 13-day winning streak, alongside the Nasdaq Composite and Nasdaq-100.

The rally is broad-based, with several major indexes, including the Russell 2000 and S&P MidCap 400, also touching record levels, alongside gains across sectors and global markets.

The S&P 500 consumer discretionary sector led gains on Friday, rising 2.5% to emerge as the top-performing segment among the index’s 11 sectors.

Driving the rally were cruise operators including Royal Caribbean, Norwegian Cruise Line and Carnival, all of which surged more than 9% during the session.

The Dow Jones Industrial Average rose by 850 points, or 1.7%. The S&P 500 traded up 1.07%, while the Nasdaq Composite gained 1.2%.

The rally comes as sentiment improves following a breakthrough on the geopolitical front. Iran announced that the Strait of Hormuz is “completely open” for commercial vessels during the ongoing ceasefire period, easing concerns around a key global oil chokepoint.Wall Street opened sharply higher on Friday, building on a record-setting rally as easing geopolitical tensions in West Asia lifted risk appetite.The Dow Jones Industrial Average jumped over 500 points, or 1.1%, at the open. The S&P 500 advanced 0.6%, while the Nasdaq Composite climbed 0.9%, extending gains after both indices closed at fresh highs in the previous session.The rally comes as sentiment improves following a breakthrough on the geopolitical front. Iran announced that the Strait of Hormuz is “completely open” for commercial vessels during the ongoing ceasefire period, easing concerns around a key global oil chokepoint.

Iran has declared the Strait of Hormuz fully open to commercial traffic during the ongoing ceasefire between Israel and Lebanon.Foreign Minister Seyed Abbas Araghchi said the move allows all commercial vessels to pass through the key oil transit route for the duration of the truce, although ships will be required to follow designated coordinated routes set by Iranian maritime authorities.The development points to a temporary easing of tensions in one of the world’s most critical energy corridors.Netflix is seeing support from analysts despite a sharp sell-off, with many recommending investors “buy the dip” after the stock tumbled following its latest results.The company reported first-quarter revenue of $12.25 billion, beating estimates and rising 16% year-on-year, but weaker-than-expected guidance for the current quarter dampened investor sentiment.Additional pressure came from leadership changes, including the departure of co-founder Reed Hastings, and strategic uncertainty after scrapping a planned deal with Warner Bros. Discovery.Shares fell more than 10% in premarket trade, putting the stock on track for its steepest decline since October.The US stock market has staged one of its fastest recoveries in years, climbing from a near correction to record highs in a remarkably short span.The S&P 500 completed a round trip from a roughly 9% decline to a new all-time closing high in just 54 trading sessions — the quickest such recovery since 2020, according to Barclays strategist Venu Krishna. From the trough, the rebound to a new high took just 11 trading days, the fastest for similar pullbacks since at least 1990.The rally has pushed the S&P 500 past the 7,000 mark for the first time, while the Nasdaq Composite notched a 12-day winning streak — its longest since 2009.The sharp turnaround has been driven by a mix of easing geopolitical concerns, strong bank earnings, softer inflation data, and renewed buying in AI-linked sectors such as semiconductors, media, and hardware.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.