High-flying tech names, travel stocks, and crypto all soared, while energy stocks sank as oil prices fell.
The S&P 500, Nasdaq 100, and Russell 2000 climbed higher on news that the US and Iran have reached a deal to reopen the Strait of Hormuz and end hostilities. Oil prices sank on the news.
Technology was the best-performing sector as the peace deal reignited enthusiasm for the AI trade, while energy was the worst performer. All Magnificent 7 stocks rose.
Bitcoin rose to its highest level in two weeks as the risk-on mood resumed. Ethereum, Solana, XRP, Zcash, and Hyperliquid Strategies** also **soared as the broader crypto market snapped back on improved risk sentiment.
Stocks that moved higher:
Southwest Airlines,Alaska Air,JetBlue,Frontier,Delta Air Lines,United Airlines, andAmerican Airlinesall climbed as oil prices droppedon the promisethat the Strait of Hormuz would soon be open.Royal Caribbean,Norwegian Cruise Line, andCarnivalgained as falling oil prices and reduced geopolitical risk lifted thetravel and leisure sector.The peace deal
reignited the momentum trade, sending 2026's best-performing tech and semiconductor names sharply higher, withSeagate Technology Holdings,Astera Labs,Nebius,Lam Research,Applied Materials,Intel,GlobalFoundries,Coherent,Sandisk,AMD,Western Digital,Marvell Technology,Dell,Nvidia, andLumentumall surging.
Stocks that moved lower:
Exxon,Devon Energy,Occidental Petroleum,Chevron,Phillips 66, andCF Industriesfell asoil prices dropped.Foxsank as as investorsdigested the risk profile and timeline of its dealto buyRokuin a cash-and-stock transaction valued at about $22 billion.