Wall Street Recovers After Iran Oil Shock, but Hormuz Hopes Now Face a CPI Test
U.S. crude surged to $111.54 a barrel Thursday, its biggest daily jump since 2020, after President Trump vowed intensified attacks on Iran. The S&P 500 rose 0.1% and the Nasdaq 0.2%, while United Airlines and Carnival fell over 3% and Tesla dropped 5.4%. Gasoline prices topped $4 a gallon nationwide. Traders watched for updates on the Strait of Hormuz, which remains closed.