US stocks gain on optimism over US-Iran deal to open Hormuz

[NEW YORK] US equities climbed and US oil prices were lower as investors bet that a deal to re-open the Strait of Hormuz was close, even as hostilities flared to test the fragile ceasefire.

The S&P 500 Index opened 0.6 per cent higher on Tuesday (May 26) morning, on track for a fourth day of gains.

The Nasdaq 100 Index rose 1.2 per cent at the opening bell, while the Dow Jones Industrial Average climbed 0.3 per cent. BLOOMBERG