Stocks Rise Despite Hormuz Blockade; Oil Pares Gains

TL;DR

U.S. stocks closed higher on April 13, 2026, despite a U.S. blockade of the Strait of Hormuz that initially weighed on markets.
Dow added 302 points (0.6%), S&P 500 gained 1%, Nasdaq rose 1.2%; Brent crude settled at $99.36/barrel after paring gains.
Markets shrugged off geopolitical risks and weak home sales, signaling investor resilience amid oil supply shifts.

The story at a glance

U.S. stocks swung from early losses to close higher, led by Nasdaq and S&P 500, as investors overlooked a U.S. naval blockade of the Strait of Hormuz involving over 15 warships. Energy firms like Exxon Mobil edged up while travel stocks such as Carnival and United Airlines fell on higher fuel costs; Goldman Sachs dropped despite overall profit gains. The coverage comes amid ongoing U.S.-Iran tensions, with President Trump open to diplomacy. This follows recent volatility from the Hormuz conflict.[[1]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-13-2026)[[2]](https://www.cnbc.com/2026/04/12/stock-market-today-live-updates.html)

Key points

Major indices: Dow Jones Industrial Average up 302 points (0.6%); S&P 500 up 1%; Nasdaq Composite up 1.2% after early downside.[[1]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-13-2026)
Oil rallied on the blockade disrupting 2 million barrels/day of Iranian crude but pared to Brent at $99.36/barrel; U.S. crude exports hit record pace near 5 million barrels/day.[[1]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-13-2026)
Standouts up: Palantir +3.4% on AI rebound; Coinbase +4%, Robinhood +2%, MicroStrategy +2.7%; energy shares like Exxon, Occidental pared earlier jumps.
Standouts down: Goldman Sachs -1.9% after profit beat but fixed-income miss; Carnival -0.8%, United Airlines -1.2% on fuel costs; JBS -3.1% post-labor deal.
Existing home sales fell 3.6% in March to 3.98 million annual rate, lowest since June 2025, due to high costs and uncertainty.[[1]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-13-2026)
Goldman Sachs profit rose 19% on dealmaking and volatility, though fixed-income lagged; AI sector faces computing shortages, GPU rentals surging.

Details and context

The U.S. blockade aims to pressure Iran amid stalled talks, redirecting oil flows and boosting U.S. exports while raising short-term fuel risks for airlines and travel. Energy Secretary Chris Wright sees summer as a timeframe for oil and gasoline price declines, though peaks could come first. Stocks recovered late, extending a rebound from prior war-related dips.[[1]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-13-2026)

Weak home sales underscore housing struggles from elevated rates and costs, signaling a slow spring season. AI demand strains power and chips, leading to outages like Anthropic's Claude and cancellations.

This live coverage captures intraday swings tied to Hormuz news, differing from earlier weeks' steeper losses on escalation fears.

Key quotes

"Summer is an aggressive time frame for declines in oil/gasoline prices."[[1]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-13-2026)

— Energy Secretary Chris Wright, on potential price relief.

Why it matters

Geopolitical tensions in the Strait of Hormuz threaten global oil flows, amplifying inflation risks and economic uncertainty beyond U.S. markets. Investors and businesses face volatile energy costs that hit travel and boost exporters, while resilient stocks suggest bets on de-escalation. Watch U.S.-Iran diplomacy, next home sales data, and oil inventories for shifts in sentiment.