US open: Stocks surge after Tehran declares Hormuz 'completely open'

(Sharecast News) - Major indices were in the green early on Friday after Tehran said the Strait of Hormuz was "completely open" following a ceasefire announcement between Israel and Lebanon. As of 1515 BST, the Dow Jones Industrial Average was up 1.16% at 49,140.91, while the S&P 500 advanced 0.73% to 7,092.51 and the Nasdaq Composite came out of the gate 1.00% firmer at 24,342.79.

The Dow opened 562.19 points higher on Friday, building on gains recorded in the previous session.

Donald Trump said late on Thursday that the leaders of Israel and Lebanon had agreed to a ceasefire following talks in Washington, giving sentiment a slight boost, with the temporary truce beginning at 2200 BST. Trump added that the next round of in‑person negotiations could take place "probably, maybe, next weekend".

However, stocks surged at the open after Iranian foreign minister Seyed Abbas Araghchi said: "In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran."

Trump also said that the US and Israel's war with Iran "should be ending pretty soon" and said the conflict was "going along swimmingly".

In the corporate space, streaming giant Netflix posted first‑quarter revenues overnight that came in just ahead of expectations as it also announced a major governance change, with co-founder and former CEO Reed Hastings set to step down from the board.

Netflix said revenues had risen 16% year‑on‑year to $12.25bn in Q1, ahead of the $12.18bn expected by analysts, while net income jumped to $5.28bn, nearly double the $2.89bn reported a year earlier, helped by stronger‑than‑expected operating income and a $2.8bn termination fee from its collapsed Warner Bros Discovery deal.

No major data points were scheduled for release on Friday.





Reporting by Iain Gilbert at Sharecast.com

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Dow Jones - Fallers

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S&P 500 - Risers

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S&P 500 - Fallers

LyondellBasell Industries (LYB) $67.43 -10.03% Netflix Inc. (NFLX) $97.70 -9.96% CF Industries Holdings Inc. (CF) $111.78 -9.56% Apache Corp. (APA) $33.90 -7.62% Valero Energy Corp. (VLO) $222.34 -7.33% Diamondback Energy Inc. (FANG) $173.58 -7.07% Celanese Corp. (CE) $63.61 -6.71% Eog Resources Inc. (EOG) $125.43 -6.54% Occidental Petroleum Corp. (OXY) $53.03 -6.52% Devon Energy Corp. (DVN) $42.81 -6.37%

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Nasdaq 100 - Fallers

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