The S&P 500 closed above 7,700 for the first time on Tuesday, with the Dow Jones gaining over 900 points, fueled by solid corporate earnings and Treasury Secretary Scott Bessent’s comments suggesting a potential U.S.-Iran deal on the Strait of Hormuz. In Asia, South Korea’s Kospi surged over 4% and Japan’s Nikkei 225 rose 1.83%. On the corporate front, SpaceX dropped nearly 7% after reporting capital expenditures of $18.4 billion in Q2, while AMD fell 8%. Conversely, Palantir surged almost 30% following quarterly results its CEO called extraordinary. Oil prices declined 5.7% to settle at $75.77 per barrel.
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