The Daily Editor

US stocks, already at record highs, ticked up further Friday morning after Iran said the Strait of Hormuz is open to commercial traffic, a major step in easing US-Iran war tensions.

The S&P 500 (^GSPC) rose 1.2%, while the Nasdaq Composite (^IXIC) gained a stronger 1.4%.

 » Read more about: Stock market today: Dow climbs 900 points, S&P 500 and Nasdaq surge as Iran says Strait of Hormuz 'completely open'  »

US stocks climbed as lower oil prices supported sectors sensitive to fuel costs and interest-rate expectations. By mid-morning on April 17, the Dow was up 554.22 points, or 1.14%, to 49,136.99. 

The S&P 500 rose 54.59 points, or 0.78%, to 7,095.87, while the NASDAQ gained 252.37 points,

 » Read more about: US Stock Market Today: Oil Prices Drop 10% as Dow, S&P 500, and NASDAQ Rally After Strait of Hormuz Reopens  »

President Donald Trump’s latest threat to fire Federal Reserve Chair Jerome Powell has put U.S.

 » Read more about: How Susan Collins and Republicans are handling Trump’s Federal Reserve threat  »

Key Highlights

• TSLA shares gained approximately 4% during trading on April 17, driven by several favorable developments
• Elon Musk announced completion of tape-out for Tesla’s AI5 autonomous driving chip
• UBS revised its TSLA rating from Sell to Neutral,

 » Read more about: Tesla (TSLA) Stock Surges 4% on AI5 Chip News and UBS Rating Boost  »

NEW YORK/LONDON, April 17 : Wall Street indexes touched fresh record highs and oil prices cratered on Friday after Iran said that the Strait of Hormuz was open for passage during a ceasefire in Lebanon and U.S. President Donald Trump said he expected to reach a deal to end the war soon.

Iranian Foreign Minister Abbas Araqchi said in a post on X that passage for all commercial vessels through the Strait of Hormuz,

 » Read more about: Wall Street stocks flourish, oil plunges below $90 after Iran says Strait of Hormuz is open  »

The $900.6 billion Pentagon budget that took effect in early 2026 was already the largest in American history before the Iran war started. Then, President Donald Trump proposed a budget of $1.5 trillion for the Defense Department for 2027. Whatever skepticism you might feel about the odds that Congress will set the final number anywhere near that,

 » Read more about: 3 Defense Tech Stocks Central to U.S. Battle Networks as Trump Ramps Up Spending on Iran and Beyond  »

 » Read more about: These 3 Under-The-Radar Gold ETFs Are Much Better Than GLD  »

US stocks, already at record highs, ticked up further Friday morning after Iran said the Strait of Hormuz is open to commercial traffic, a major step in easing US-Iran war tensions.

The S&P 500 (^GSPC) rose 1.4%, while the Nasdaq Composite (^IXIC) gained a stronger 1.7%.

 » Read more about: Stock market today: Dow climbs 1,000 points, S&P 500 and Nasdaq surge as Iran says Strait of Hormuz 'completely open'  »

• Software stocks have rallied as risk sentiment is revived on Wall Street.

• BofA analysts say the rally might not last, and expect volatility.

• Piper Sandler warned that there are months of technical damage for software to repair before recovering.

 » Read more about: Why some Wall Street analysts are warning that software stocks' fresh rally might not last  »

The US is ignorant of how to achieve two major goals: security and prosperity. Due to this ignorance, it has engaged in an undeclared war in the Middle East and has instituted protective tariffs at home. The war in the Middle East will not enhance American security, and the protective tariffs will cause economic harm at home,

 » Read more about: War and Trade Restrictions: Fallacious Paths to National Security and Prosperity  »