US stocks hit records as Iran tensions ease, Hormuz talks advance

NEW YORK — US benchmarks closed at record highs on Tuesday as signs of progress on reopening the Strait of Hormuz and a wave of strong corporate earnings pushed equity markets higher. The Nasdaq gained 2.6%, the S&P 500 added 1.8%, and the Dow Jones rose more than 900 points to finish at 54,086.88, according to market data. The S&P 500 topped 7,700 points for the first time. Shares of Palantir surged roughly 30% after the data analytics company reported results that beat expectations. Gains in shares of Caterpillar and McDonald's also helped lift the broader market. The rally came as investors tracked developments in US–Iran negotiations. Analysts said any breakthrough on the Strait of Hormuz, a key chokepoint for global oil shipments, would carry significant implications for energy supply and prices.