S&P 500, Dow Jones Close at Records on Strait of Hormuz Diplomacy; Oil Falls 5%

US500-1.06%
According to The Kobeissi Letter, the S&P 500 and Dow Jones closed at record highs on Tuesday (August 4), driven by diplomatic progress toward reopening the Strait of Hormuz. The S&P 500 advanced 1.79% to 7,736.52, while the Dow Jones rose 1.71%, or 907 points, to 54,085.88. The Nasdaq Composite outperformed both, gaining 2.59% to 26,584.99, and the market added approximately $1.2 trillion in capitalization. Crude oil fell roughly 5% amid signals that a deal to restore full commercial transit could be reached within days, according to Treasury Secretary Scott Bessent. Secretary of State Marco Rubio confirmed the strait remains open, with talks involving Iran, Oman, and U.S. participation aimed at ensuring safer vessel traffic.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
TheDaysWeWalkTogethervip
· 08-05 13:32
Get on board quickly! 🚗
View OriginalReply0