Wall Street Hits New Records, Oil Surges On Hormuz Toll Drama: What's Moving Markets Thursday?

U.S. equities pushed to fresh all-time highs Thursday midday, with the S&P 500 topping 7,038 as peace-deal optimism over the Iran conflict kept buyers engaged—even as oil prices charged higher after reports that Tehran’s parliament was advancing legislation to impose mandatory shipping tolls at the Strait of Hormuz.

President Donald Trump announced that Israeli and Lebanese leaders have agreed to a 10-day ceasefire, calling it his potential tenth war resolved.

The S&P 500 advanced to 7,038.57, up 0.2%, tagging a fresh all-time high and extending the index’s remarkable rally off March lows. The Dow Jones Industrial Average was essentially flat on the session.

The Nasdaq 100 rallied 0.6% to 26,359, updating record highs and eyeing its 12th straight session of gains – the tech-heavy index’s best run since 2009.

WTI crude surged 2.5% to $93.58 per barrel, while Brent jumped 3.8% to $98.52—approaching the psychologically significant $100 threshold.

The Hormuz toll legislation was seen as potentially complicating any diplomatic breakthrough and kept energy markets on edge through midday.

Thursday’s Performance In Major US Indices

According to the Benzinga Pro platform:

• The Vanguard S&P 500 ETF (NYSE:VOO) gained 0.2%.
• The SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) edged up 0.1%.
• The Invesco QQQ Trust (NASDAQ:

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