The S&P 500 posted a 0.6% gain year‑to‑date, extending its rally to eight straight sessions. A surge in software stocks lifted the broad market despite fresh Middle‑East tension after the U.S. blockade of the Strait of Hormuz. Investors shrugged off the weekend collapse of Iran‑Pakistan peace talks, keeping equity momentum alive. Analysts note the tech sector outperformance drove the bounce.

Oil prices briefly rose above $100 a barrel after the Hormuz blockade, but the spike failed to dent equity gains. The index closed at its highest level since the early days of the Iran conflict, marking a 1% weekly rise. Market participants appear to price in geopolitical risk without abandoning risk‑on positioning. Energy traders warned the price rally could be short‑lived as supply concerns ease.

Broad‑based optimism stems from tech earnings beating expectations and the perception that investors have grown accustomed to regional flare‑ups. With the S&P 500 now up 0.6% for the year, fund managers may keep allocating to growth names even as oil volatility persists. Thus, portfolio strategies may stay weighted toward high‑growth software firms despite the backdrop. The rally underscores that current market dynamics can absorb geopolitical shocks.