Markets surged to close out the week as Iran declared the Strait of Hormuz open to commercial vessels, sending oil below $87 a barrel and unwinding the war premium that had gripped markets for weeks. The tech sector led the rally, with Intel hitting its highest level since the dot-com era and AMD reaching all-time highs on surging agentic AI demand, while Netflix bucked the trend, tumbling 10% on a disappointing revenue forecast and the announced departure of co-founder Reed Hastings.

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