Crude oil prices collapsed and stock prices surged Friday after Iran declared the Strait of Hormuz "completely open" in a post on X, citing a ceasefire in Lebanon. The Nasdaq Composite is now on its longest winning streak since 1992, as the tech-heavy index and the S&P 500 hit new all-time closing highs, while the Dow Jones Industrial Average rallied to within another good day's climb of its own fresh peak.
Passage for all commercial vessels through the Strait of Hormuz is "open for the remaining period of ceasefire" between Lebanon and Israel, Iranian Foreign Minister Seyed Abbas Araghchi said before the opening bell.
