Stocks, Bonds Pare Losses on Strait of Hormuz Reopening Hopes
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Good morning. Stocks, bonds pare losses on renewed hopes for the Strait of Hormuz opening back up. Hong Kong’s billionaire Cheng family has a new plan. And the CEO of a company under scrutiny from the US government applies for the president’s gold card. Listen to the day’s top stories.
Iran stepped up attacks on energy assets across the Middle East after Donald Trump called for restraint. Strikes on key oil and gas infrastructure led to a surge in oil prices before crude futures pared gains as investors weighed comments from the US leader and signs of progress in reopening the Strait of Hormuz. Stocks and bonds recovered from their intraday lows while metals tumbled, with aluminum sliding the most since 2022 and gold and silver declining.