The S&P 500 and Nasdaq snapped a four-day rally, a reminder that the major indexes do not always move together.
Crude prices stabilized alongside the news, with the global benchmark holding above the mid-$70s a barrel.
Hopes around an energy chokepoint moved stocks and oil at once, linking a diplomatic story to market prices.
Records reflect optimism, not certainty. Watch whether the Hormuz talks produce a concrete agreement.
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