US S&P 500 crosses 7,100 for 1st time after Iran opens Strait of Hormuz

The US stock market hit record highs on Friday after Iran said Strait of Hormuz would remain open during its ceasefire. The S&P 500 rose 1.1% to cross the 7,100 mark for the first time, while the Nasdaq Composite gained 1.6% to a record 24,494. The Dow Jones Industrial Average also hit its highest level in over two months.