U.S. stocks rocketed higher on Friday after Iran declared the Strait of Hormuz “completely open” on the heels of a ceasefire announcement between Israel and Lebanon.
The Dow Jones Industrial Average rose by 916 points, or 1.9%. The S&P 500 traded up 1.1% and crossed 7,100 for the first time, while the Nasdaq Composite gained 1.3%, with both hitting new all-time intraday highs. The Russell 2000 also reached a fresh high. The small-cap index was last up 2.5%.