{"id":1955,"date":"2026-08-05T02:30:10","date_gmt":"2026-08-05T02:30:10","guid":{"rendered":"https:\/\/www.asianewscast.com\/?p=1955"},"modified":"2026-08-05T02:30:10","modified_gmt":"2026-08-05T02:30:10","slug":"us-stock-market-hits-record-high-amid-hopes-for-strait-of-hormuz-reopening","status":"publish","type":"post","link":"https:\/\/www.asianewscast.com\/?p=1955","title":{"rendered":"US stock market hits record high amid hopes for Strait of Hormuz reopening"},"content":{"rendered":"<div class=\"rich-share\" data-testid=\"rich-share\">\n<div class=\"rich-share__divider\">\n<div class=\"listen-to-article\"><button class=\"listen-to-article__button\" data-testid=\"listen-to-article-button\"><title>Listen<\/title>Listen (3 mins)<\/button><\/div>\n<div class=\"rich-share__update-reading-list-wrapper\">\n<div class=\"update-reading-list\">\n<p class=\"update-reading-list__button-text\">Save<\/p>\n<\/div>\n<div><\/div>\n<\/div>\n<div class=\"rich-share__wrapper\">\n<div 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href=\"https:\/\/twitter.com\/intent\/tweet?text=US%20stock%20market%20hits%20record%20high%20amid%20hopes%20for%20Strait%20of%20Hormuz%20reopening&amp;source=sharethiscom&amp;related=sharethis&amp;via=AJEnglish&amp;url=https%3A%2F%2Faje.news%2Fl46dym\"><title>x<\/title><\/a><a class=\"rich-share__social-link row u-hidden--desktop\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Share on Whatsapp\" href=\"\/\/send?text=https%3A%2F%2Faje.news%2Fl46dym\"><title>whatsapp-stroke<\/title><\/a><a class=\"rich-share__social-link row copylink\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"Copy link\" href=\"https:\/\/aje.news\/l46dym\"><title>copylink<\/title><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"google-preferred-source\"><button class=\"google-preferred-source__button\" aria-label=\"Add Al Jazeera on Google\" data-testid=\"google-preferred-source-button\"><title>google<\/title><span class=\"google-preferred-source__text\">Add Al Jazeera on Google<\/span><\/button><button aria-label=\"See more of Al Jazeera\u2019s trusted journalism by adding us as a preferred source on Google.\" class=\"tooltip-accessible_trigger\"><title>info<\/title><\/button><\/div>\n<\/div>\n<div class=\"article-featured__media\">\n<figure class=\"article-featured-image\">\n<div class=\"responsive-image\"><img decoding=\"async\" loading=\"eager\" src=\"\/wp-content\/uploads\/2026\/08\/AP26211533469795-1785889510.jpg?resize=770%2C513&amp;quality=80\" alt=\"WS\"><\/div><figcaption>A trader works on the floor of the New York Stock Exchange, in New York, the US, on July 30, 2026 [Yuki Iwamura\/AP]<\/figcaption><\/figure>\n<\/div>\n<div class=\"article-info m--t-20 m--desktop-b-30 m--b-mobile-20\">\n<div class=\"byline byline--single-avatar\">\n<div class=\"avatars-container\"><a class=\"avatar\" aria-hidden=\"true\" href=\"\/author\/powerj\"><\/p>\n<div class=\"responsive-image\"><img decoding=\"async\" loading=\"lazy\" src=\"\/wp-content\/uploads\/2020\/09\/jp-1730786685-rotated.jpg?resize=96%2C96&amp;quality=80\" aria-hidden=\"true\"><\/div>\n<p><\/a><\/div>\n<div class=\"byline-content\">\n<div class=\"contributors-list contributors-list--byline\"><span class=\"contributors-list__by-prefix\">By <\/span><a href=\"\/author\/powerj\">John Power<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"article-dates\">\n<div class=\"date-simple\"><span class=\"screen-reader-text\">Published On 5 Aug 2026<\/span><span aria-hidden=\"true\">5 Aug 2026<\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"wysiwyg wysiwyg--all-content\" aria-live=\"polite\">\n<p>The 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.<\/p>\n<p>The S&amp;P 500, the most popular gauge of\u00a0US stocks,\u00a0surged 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.<\/p>\n<section class=\"more-on\">\n<h2 class=\"more-on__heading\">Recommended Stories<!-- --> <\/h2>\n<p><span class=\"screen-reader-text\">list of 4 items<\/span><\/p>\n<ul class=\"more-on__list\">\n<li class=\"more-on__article\"><span class=\"screen-reader-text\">list 1 of 4<\/span><a class=\"more-on__link\" href=\"\/economy\/2026\/8\/4\/elon-musks-spacex-reports-reports-losses-but-less-than-expected\">Elon Musk\u2019s SpaceX reports losses but less than expected<\/a><\/li>\n<li class=\"more-on__article\"><span class=\"screen-reader-text\">list 2 of 4<\/span><a class=\"more-on__link\" href=\"\/news\/2026\/8\/4\/sri-lanka-shuts-schools-as-floods-and-mudslides-kill-7\">Sri Lanka shuts schools as floods and mudslides kill 7<\/a><\/li>\n<li class=\"more-on__article\"><span class=\"screen-reader-text\">list 3 of 4<\/span><a class=\"more-on__link\" href=\"\/news\/2026\/8\/4\/russia-strikes-ukrainian-capital-kyiv-with-ballistic-missiles\">One killed, 12 injured in Russian ballistic missile attack on Kyiv<\/a><\/li>\n<li class=\"more-on__article\"><span class=\"screen-reader-text\">list 4 of 4<\/span><a class=\"more-on__link\" href=\"\/news\/2026\/8\/4\/us-revokes-visa-of-brazilian-ambassador-amid-deepening-diplomatic-spat\">US revokes visa of Brazilian ambassador amid deepening diplomatic spat<\/a><\/li>\n<\/ul>\n<p><span class=\"screen-reader-text\">end of list<\/span><\/section>\n<p>Wall Street\u2019s benchmark index has risen 12.80 percent so far this year, comfortably beating its historical average of about 10.5 percent.<\/p>\n<p>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.<\/p>\n<p>The Dow Jones Industrial Average, which tracks 30 blue-chip companies, set a new record for a second straight day, climbing 1.7 percent to 54,085.88.<\/p>\n<p>The rally continued in Asia on\u00a0Wednesday morning, with key indexes in Japan and South Korea making major gains.<\/p>\n<p>Tokyo\u2019s benchmark Nikkei 225 was up 3 percent as of 01:00 GMT, while the Kospi in Seoul was up 4.6 percent.<\/p>\n<p>Brent crude, the primary international benchmark for oil prices, edged lower after falling about 5 percent overnight on hopes for an end to the months-long disruption to shipping in the Strait of Hormuz, a conduit for about one-fifth of global oil supplies before the start of the US-Israel war on Iran in late February.<\/p>\n<p>Brent futures for October delivery stood at $79.11 per barrel as of 01:00 GMT, down about 13 percent from the previous week.<\/p>\n<div style=\"display:block;position:relative;min-width:0px;max-width:770px\">\n<\/div>\n<p>The growing market optimism came as both US and Iranian officials touted progress in talks between Iran and Oman aimed at restoring shipping in the strait.<\/p>\n<div class=\"container--ads in-article-ads\">\n<div class=\"ads\"><span class=\"ads__title\"> Advertisement <\/span><\/div>\n<\/div>\n<p>US Secretary of State Marco Rubio said on Tuesday that while an agreement had yet to be reached, he hoped that a deal would \u201chappen very \u200cshortly\u201d.<\/p>\n<p>US Treasury Secretary Scott Bessent said in an interview with CNBC that an agreement on the strait could be reached as soon as Tuesday or Wednesday.<\/p>\n<p>Iran\u2019s Foreign Ministry spokesperson, Esmaeil Baghaei, said talks with Omani officials on designating safe routes for vessels have been \u201cpositive\u201d.<\/p>\n<p>Maritime traffic in the Gulf has been severely constrained since the start of the war amid the threat of Iranian attacks on vessels in and around the strait, as well as a US blockade of Iranian ports.<\/p>\n<p>Just nine vessels transited the critical waterway on Sunday, according to ship-tracking platform MarineTraffic, compared with roughly 130 daily crossings before the start of the war.<\/p>\n<p>The US military said on Tuesday that the strait was \u201cfree and open\u201d to all commercial vessels despite Tehran\u2019s repeated insistence that it has the right to control the movement of traffic in the waterway.<\/p>\n<p>\u201cOver the past three months, US forces have assisted more than 1,000 vessels in successfully transiting the strait despite unwarranted Iranian aggression, and these transits continue today,\u201d US Central Command said in a post on social media.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>ListenListen (3 mins) Save Click here to share on social media share-nodes Share facebookxwhatsapp-strokecopylink googleAdd Al Jazeera on Googleinfo A trader works on the floor of the New York Stock Exchange, in New York, the US, on July 30, 2026 [Yuki Iwamura\/AP] By John Power Published On 5 Aug 20265 Aug 2026 The US stock [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1955","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>US stock market hits record high amid hopes for Strait of Hormuz reopening - Asia Newscast<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asianewscast.com\/?p=1955\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US stock market hits record high amid hopes for Strait of Hormuz reopening - Asia Newscast\" 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