Nasdaq 100 hits records as oil prices drop on Iran Hormuz deal hopes

The Nasdaq 100 reached new record highs while crude oil prices fell nearly 3% amid optimism that Iran may accept a U.S. proposal to reopen the Strait of Hormuz, easing geopolitical tensions. WTI and Brent crude dropped to their lowest levels in nearly three weeks, dragging energy stocks down. Meanwhile, tech giants like Microsoft, Tesla, and Nvidia led gains, supported by strong earnings reports from companies such as Datadog and Fortinet. Investors await more earnings reports from major firms like Coinbase and Airbnb later today.