S&P 500+1.05%▲: closed at 7,497.86 on broad gains across growth and select cyclicals. Nasdaq+1.91%▲: closed at 26,517.93, driven by strength in semiconductor and AI-related names. Russell 2000+2.12%▲: closed at 2,979.77, outperforming larger-cap benchmarks. Dow+0.14%▲: closed at 51,564.70 with modest gains among blue-chip names. VIX-11.06%▼: fell to 16.40, reflecting lower near-term volatility as geopolitical concerns eased. Crypto: BTC and ETH traded mixed in a narrow range, with crypto markets reacting to the same geopolitical headlines that moved equities and oil. What's driving the market this week A preliminary U.S.-Iran agreement that would reopen the Strait of Hormuz coincided with a sharp drop in oil and a broad rally in global equities; that development is referenced repeatedly in market coverage this week. Ongoing strength in semiconductor and AI-linked technology stocks underpinned the Nasdaq advance and supported sector breadth, as recent industry reports document elevated AI-related demand and semiconductor performance. Data out of Japan showing core inflation holding near recent levels has been part of the cross-border news flow affecting markets and central-bank monitoring this month.