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The American stock market rose notably, with the S&P 500 reaching a new record high during the session, as gains continued fueled by strong corporate earnings reports and expectations of reopening the Strait of Hormuz. Major market indices increased between 0.4% and 0.7%, with weekly gains exceeding 5-9%. The rise was supported by earnings results from companies like Disney and Eli Lilly, which beat expectations, alongside the ongoing strength of the earnings season. Oil prices stabilized at roughly current levels following statements about a potential agreement between the United States and Iran regarding the Strait of Hormuz. Meanwhile, stocks such as SpaceX and Nvidia saw gains driven by expectations around artificial intelligence.
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