S&P 500 hits record high

Wall Street's main indexes surged past previous records, reflecting a significant rebound from the volatility seen at the start of the Iran war.

The S&P 500 breached the 7,000-point milestone for the first time, driven by gains in the technology and financial sectors.

Investors are increasingly hopeful that diplomatic efforts by mediators will lead to a permanent reopening of the Strait of Hormuz.

Despite the record highs, some analysts caution that the full economic impact of the energy shock has yet to be fully realized.