S&P 500 hits record high as US blockade disrupts Strait of Hormuz

The Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) keep the momentum going in Wednesday's session, the latter hitting its first intraday record high since January. Yahoo Finance Markets and Data Editor Jared Blikre and Breaking News Reporter Jake Conley highlight the day's market moves and oil price (CL=F, BZ=F) trends after President Trump signaled that peace talks and US and Iran are set to resume. The US naval blockade continues to bar access from Iranian ports on the Strait of Hormuz, creating a backlog as hundreds of tankers wait to pass through the key shipping channel.