New York stocks opened higher on the 4th (local time) on the possibility that the United States and Iran could reach an agreement to open the Strait of Hormuz.
As of 9:40 a.m. that day, on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average started trading at 53,832.42, up 654.01 points (1.23%) from the previous session.
The Standard & Poor's (S&P) 500 index was at 7,644.76, up 44.26 points (0.58%) from the previous session, and the tech-heavy Nasdaq composite was at 26,225.65, up 311.76 points (1.20%) from the previous session.
With the United States and Iran holding talks over the Strait of Hormuz, reports said the indexes rose on growing expectations for a deal.
U.S. Treasury Secretary Scott Bessent appeared on CNBC that day and said, "I think an agreement could be reached today or tomorrow to open the Strait of Hormuz and bring this dispute back to a normal phase," adding, "It will allow for free passage."
He added, "While the situation there was somewhat dangerous, we are seeing quite a few vessels exiting even now," and said, "Energy prices will stabilize again, and it will be a positive development for the world."