US Stock Market: Wall Street indexes hit record highs as oil falls with Strait of Hormuz declared open

Major US stock indices, including the S&P 500 and Nasdaq, closed at record highs Friday, fueled by optimism over Iran’s decision to open the Strait of Hormuz and potential peace talks with the US. This development eased inflation concerns as oil prices plummeted, boosting consumer discretionary and industrial sectors while energy stocks slid.

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