Iran Reopens Strait, US Stocks Jump 1.3%

Indices surged Friday: S&P 500 +1.3% to 7,130, Nasdaq +1.6% to 24,478, Dow +2.1% to 49,585 after Iran reopened Strait of Hormuz.
Brent crude fell 12.6% to $86.84/barrel and WTI dropped 13.5% to $81.87/barrel, sparking a risk‑on rally across stocks, crypto and bonds.
Netflix slid 10.5% after Q2 revenue guidance and Chairman Reed Hastings’ decision not to seek re‑election; Intel, SanDisk and Micron led gains.
Market pricing shows ~60% chance of a Fed rate cut by December; a US‑Iran proposal would release $20 bn of frozen Iranian funds.