S&P 500 rose 0.7% to 7,092.07, Nasdaq 0.8% to 24,300.40, and Dow 1.2% to 49,172.40 as markets opened.
Oil prices fell below $90 per barrel after Iran's foreign minister announced the Strait of Hormuz was open for commercial vessels.
Netflix shares dropped 10.5% following a revenue outlook miss and announcement that Chairman Reed Hastings will not seek re‑election.
Chip makers Intel, Micron and SanDisk led gains, while Alcoa fell 9.4% on weak Q1 results and Autoliv rose 12.2% on earnings.