U.S. stock markets have surged to record highs, buoyed by hopes for a peace agreement with Iran regarding the Strait of Hormuz and impressive corporate earnings, particularly in the technology sector powered by AI advancements. The Dow and S&P 500 both recorded substantial gains, with the Dow soaring over 900 points on the expectations surrounding a U.S.-Iran deal. As oil prices have eased, investor optimism has grown, contributing to the overall market rally. Notable declines were seen in stocks like SpaceX and AMD after earnings reports, but the overall sentiment remains positive, suggesting a strong economic environment despite some volatility.