S&P 500 Posts Best Day Since February as Hormuz Concerns Ease

The S&P 500 Index posted its best day since February as concerns about the closure of the Strait of Hormuz’s impact on global supply chains abate and Nvidia Corp. Chief Executive Officer Jensen Huang kicked off its annual AI conference.

The US equity benchmark rose 1.0%, reversing a four-day losing streak. The tech-heavy Nasdaq 100 gained 1.1%. Brent crude oil prices fell to trade around $100 a barrel. The Cboe Volatility Index — Wall Street’s so-called “fear gauge” — is down to 23.51 after highs last week.