Stocks gapped up at the opening bell on Thursday and ended a holiday-shortened week on an upbeat note after the U.S. and Iran reached an agreement that opens the Strait of Hormuz on a provisional basis for 60 days.
The prospect of peace in the Middle East and relief from an energy shock revived animal spirits dulled by Federal Reserve Chair Kevin Warsh's hints of higher interest rates during the press conference after the first Fed meeting of his tenure.
