Global equity markets experienced significant gains on Tuesday, achieving record highs, while oil prices fell sharply. This surge in investor confidence was fueled by hopes for a potential de-escalation in the Strait of Hormuz and remarks from U.S. Treasury Secretary Scott Bessent indicating the possibility of a trade agreement. Market Rally: Key Factors Behind the Surge. Major indices, including the S&P 500, saw substantial increases, reflecting the overall positive sentiment in the markets.