Stocks

Wall Street Review: S&P 500 Surpasses 7,100 for First Time

Markets ended the week on a strong note after Iran announced the reopening of the Strait of Hormuz, easing concerns about energy supply disruptions.
Wall Street Review: S&P 500 Surpasses 7,100 for First Time
Traders work on the floor of the New York Stock Exchange on April 17, 2026. Michael M. Santiago/Getty Images
Panos Mourdoukoutas
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Stocks extended their rebound into the third week of April, with the S&P 500 and Nasdaq reaching new record highs following announcements by President Donald Trump and Iran to reopen the Strait of Hormuz, easing concerns over global energy supply disruptions.

The decline in oil prices and Treasury bond yields supported investor appetite for risk assets, helping fuel a broad-based rally led by software, financial, travel, and leisure stocks, small caps, and a strong initial public offering.

Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”