Wall Street Rushes to Price Out War Damage as Stocks Hit Records

Traders spent this week betting that the US conflict with Iran is all but over — driving stocks to records, dumping the dollar and pushing oil to around $90 a barrel.

A ceasefire between Israel and Hezbollah in Lebanon and Iran’s decision to reopen the Strait of Hormuz to commercial shipping sent risky assets surging anew on Friday, extending a rally that pushed the S&P 500 to a fresh record and fueling its biggest monthly advance since 2020.