Markets Climb as Nasdaq Hits Record and Oil Falls Below $100

Easing reports on the Strait of Hormuz are lowering oil prices and helping support tech-led gains while headline-driven volatility remains present.

Overview

U.S. stocks extended gains on Tuesday after tech and communication shares pushed the Nasdaq to a fresh record close, with the S&P 500 and Dow Jones also trading higher.
Oil dropped under US$100 per barrel after reports said Iran had offered to reopen the Strait of Hormuz within days and Saudi Arabia signaled plans to restart its East–West pipeline, easing immediate supply fears.
Treasury yields edged lower and investors closely parsed speeches from Federal Reserve officials plus the Richmond manufacturing survey for clues on the policy path that influences equity valuations.
Asian and European markets generally rose, led by tech strength in Hong Kong and Shanghai after Alibaba announced a new AI chip and data center expansion, while London lagged.
Short-term volatility persisted because of event risk, including alerts about possible Iranian flight suspensions and President Trump’s U.N. remarks, and Brazilian markets tracked global moves ahead of Lula’s U.N. speech and Copom minutes.