US stock market hits record high amid hopes for Strait of Hormuz reopening

Oil prices fall as US officials tout progress in talks to reopen critical waterway.Published On 5 Aug 20265 Aug 2026The US stock market has hit an all-time high amid growing hopes for a deal to reopen the Strait of Hormuz and a flurry of bumper corporate earnings results.The S&P 500, the most popular gauge of US stocks, surged 1.8 percent on Tuesday to top 7,700 for the first time, blasting past its previous record of 7,620.90 set on June 2.Recommended Stories list of 4 itemslist 1 of 4Elon Musk’s SpaceX reports losses but less than expectedlist 2 of 4Sri Lanka shuts schools as floods and mudslides kill 7list 3 of 4One killed, 12 injured in Russian ballistic missile attack on Kyivlist 4 of 4US revokes visa of Brazilian ambassador amid deepening diplomatic spatend of listWall Street’s benchmark index has risen 12.80 percent so far this year, comfortably beating its historical average of about 10.5 percent.Palantir Technologies, a data analytics company closely tied to the US and Israeli defence sectors, was among the biggest gainers, with its shares soaring 29.5 percent on the back of forecasting-busting second-quarter revenue of $1.94 bn.The Dow Jones Industrial Average, which ...