Traders on the floor of the New York Stock Exchange celebrated significant gains on April 17, 2026, as U.S. stocks soared following Iran’s announcement that the Strait of Hormuz is “completely open.” This declaration came in the wake of a ceasefire agreement between Israel and Lebanon, sparking optimism among investors. The S&P 500 surged by 1.2%, closing at 7,126.06-marking a notable milestone as it surpassed the 7,100 level for the first time. The Nasdaq Composite experienced a remarkable increase of 1.52%, ending the day at 24,468.48, achieving its longest winning streak since 1992 with thirteen consecutive days of gains. Both indices set new intraday and closing records. The Dow Jones Industrial Average also climbed, gaining 868.71 points or 1.79% to finish at 49,447.43, while the Russell 2000 small-cap index rose more than 2%, hitting a fresh high.
Iranian Foreign Minister Seyed Abbas Araghchi took to X, announcing that “in line with the ceasefire in Lebanon, the passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of ceasefire.” President Donald Trump confirmed on Thursday that Israeli and Lebanese leaders agreed to a 10-day ceasefire, which began at 5 p.m. ET that same day.
As a result of the news, oil prices plummeted, alleviating concerns regarding potential supply disruptions. U.S. West Texas Intermediate futures fell nearly 12%, settling at $83.85 per barrel, while international benchmark Brent crude prices dropped 9% to $90.38 per barrel. On Truth Social, Trump expressed gratitude for Iran’s decision to reopen the Strait, stating that Iran has committed to never closing the waterway again. However, he noted that the U.S. Navy’s blockade of Iranian ports will “REMAIN IN FULL FORCE” until a peace agreement is reached, emphasizing that “THIS PROCESS SHOULD GO VERY QUICKLY IN THAT MOST OF THE POINTS ARE ALREADY NEGOTIATED.”
Nonetheless, the reopening of the strait could face restrictions, as Iran’s Tasnim news agency reported that vessels linked to hostile nations would be barred from passage, stating that the strait could be closed if the U.S. blockade continues. Uncertainty also surrounds whether ships will need to pay a toll for passage through the strategic waterway.
The stock market responded positively, particularly in industries sensitive to the status of the strait, including airlines and cruise lines. Share prices for Boeing and Royal Caribbean increased by 2% and 7%, respectively, with tech giants like Amazon and Airbnb also seeing gains.
According to Anthony Saglimbene, chief market strategist at Ameriprise Financial, investors are “moving beyond this conflict.” He remarked that the market appears to have reassessed the worst-case scenarios, recognizing a path to potential peace between the U.S. and Iran, which supports the notion of an open Strait of Hormuz. “As long as that remains the most likely path, then markets will discount it.”
Trump’s optimistic statements about the war in Iran, claiming it “should be ending pretty soon,” have further fueled this positive sentiment. He described the situation as “going along swimmingly,” reinforcing his earlier assertions that Iran is eager to negotiate a deal.
This week’s stock performance underscores the market’s expectations for peace, with all three major indices making substantial gains. The blue-chip Dow increased by 3.2%, the S&P 500 climbed 4.5%, and the Nasdaq rose by 6.8%. Saglimbene noted, “The easy part of this rally is probably behind us,” emphasizing the need for strong earnings and outlooks, particularly for technology stocks as the market moves forward.
Original Source: https://www.cnbc.com/2026/04/16/stock-market-today-live-updates.html
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Publish Date: 2026-04-18 01:45:00
