The stock market soars. 5 reasons behind the big surge Tuesday

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 24, 2026. Brendan Mcdermid | ReutersWall Street sent stocks soaring to records on Tuesday as a multitude of factors combined to form a broad rally.The Dow Jones Industrial Average surged more than 900 points for its best day in nearly two months. The S&P 500 jumped nearly 2% to a new all-time high in what became one of its biggest single-day advances of the year."It's not just one specific news event that's causing the rally. You're getting a succession of events," said Paul Hickey, co-founder at Bespoke Investment Group. "Multiple positive catalysts tend to have longer legs." Here are five reasons why the market took off:1. Bessent's Iran comments to CNBCTreasury Secretary Scott Bessent told CNBC's "Squawk Box" that the U.S. and Iran could reach a deal either Tuesday or Wednesday that would reopen the Strait of Hormuz. "We are in talks with the Iranians," Bessent said in a Tuesday morning interview with CNBC. "There is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalized position in this conflict."Dow futures surged following his commentar...