Morgans Financial Limited

US equity markets rose sharply on Friday (17 April), with the S&P500 and Nasdaq recording fresh record intra-day and closing highs for a third straight session after Iranian foreign minister Abbas Araghchi said the Strait of Hormuz was “completely open” to commercial traffic following last Thursday's (16 April) announcement of a 10-day ceasefire between Israel and Lebanon – Dow rallied +869-points or +1.79%. Home Depot Inc (+3.63%), Sherwin Williams Co (+3.66%) and Merck & Co Inc (+3.13%). Chevron Corp fell -2.21%, tracking weaker crude prices and one of just three Dow components to settle in the red.