Wall Street roared back to record territory overnight as twin tailwinds — hopes for an imminent US-Iran deal to reopen the Strait of Hormuz and a wave of blockbuster earnings from Palantir, Caterpillar, and Big Tech — drove the S&P 500 up 1.8% to its first record close since June 2. Oil plunged nearly 6% on the diplomatic optimism, while Treasury yields fell and gold firmed. After the bell, SpaceX beat revenue estimates in its first post-IPO quarter but fell on heavy AI spending, and AMD’s strong guidance couldn’t prevent profit-taking after a 142% YTD run. ASX futures are pointing to a 41-point gain this morning.