Ceasefire Holds as Tensions Ease Between Israel, Lebanon, and Iran; Strait of Hormuz Reopens A 10-day ceasefire between Israel and Hezbollah offers a critical de-escalation, potentially paving the way for extended truces with Iran and the US. The Strait of Hormuz has been declared open, leading to a drop in oil prices and a surge in U.S. stock markets. President Trump hailed the ceasefire as historic and announced potential high-level meetings. A fragile 10-day ceasefire between Israel and the Hezbollah militant group, which began on Thursday, is offering a crucial pause in hostilities and bolstering efforts to extend a broader truce between Iran, the United States, and Israel. This development follows weeks of escalating attacks that have exacted a heavy toll on the region. President Donald Trump expressed optimism about the situation, indicating that a White House meeting involving representatives from Israel and Lebanon could materialize within the next two weeks. The conflict has resulted in a tragic loss of life, with at least 3,000 people killed in Iran, over 2,100 in Lebanon, 23 in Israel, and more than a dozen in various Gulf Arab states. The United States has also sustained casualties, with 13 service members losing their lives. Despite ongoing tensions, including a U.S. blockade on Iranian ports and renewed threats from Iran, regional officials have reported significant progress. These officials, speaking to The Associated Press on condition of anonymity due to the sensitive nature of the negotiations, revealed an 'in-principle agreement' between the United States and Iran to extend the ceasefire. This extension is intended to provide further opportunities for diplomatic engagement and de-escalation. Mediators are actively working to bridge significant divides on three key issues: Iran's controversial nuclear program, the strategic Strait of Hormuz, and the complex issue of compensation for wartime damages. A regional official involved in these mediation efforts confirmed the focus on these sticking points. As of Friday evening, ET, a notable period of calm had settled over Israel. For over 24 hours, air raid sirens had remained silent across the country. The last alert, which occurred early Friday morning in a small community near the Lebanese border, was later attributed to a mistaken identification, highlighting the heightened sensitivity and the impact of even minor incidents. Since the commencement of the Iran war on February 28, a relentless barrage of missiles and rockets had been launched into Israel. These attacks originated from Iran, the Lebanon-based Hezbollah militants, and subsequently the Houthi forces in Yemen, with some days seeing over a dozen such launches. Hezbollah maintained its firing campaign right up until the ceasefire officially took effect on Friday. The constant threat of aerial attacks disrupted daily life across Israel, from its major metropolitan centers like Jerusalem and Tel Aviv to villages in the country's southern desert and northern hilly regions. Residents frequently sought refuge in bomb shelters and safe rooms throughout the day and night, a stark testament to the pervasive impact of the conflict. By mid-afternoon on Friday, ET, a notable shift was observed in global financial markets. Oil prices had retreated to levels seen in the early days of the Iran war, while U.S. stock markets experienced a surge, reaching another record high. The S&P 500 index demonstrated robust growth, leaping 1.2% following an announcement that the Strait of Hormuz was once again open for commercial tankers transporting crude oil. The Dow Jones Industrial Average saw an even more dramatic rise, jumping as much as 1,100 points before moderating its gains to close with an increase of approximately 870 points, or 1.8%. The Nasdaq composite also performed strongly, climbing 1.5%. The anticipated freer flow of oil is expected to alleviate pressure on prices, not only for gasoline but also for essential goods such as groceries and a wide range of other products. In tandem with these market movements, crude oil prices saw a significant drop of 9%. Earlier in the day, at 10:42 a.m. ET, President Trump utilized his Truth Social platform to post multiple messages acknowledging allies and sharing updates on the reopening of the Strait of Hormuz. He initially addressed the relationship between Israel, Lebanon, and Hezbollah, asserting that Israel was 'PROHIBITED' from bombing Lebanon and that the U.S. would address the Hezbollah situation in an appropriate manner, later adding a pledge to 'MAKE LEBANON GREAT AGAIN!'. Further posts included messages of gratitude to Saudi Arabia, the UAE, and Qatar, along with a directive for NATO to maintain its distance. Other updates from the President detailed U.S. assistance to Iran in clearing sea mines from the region, culminating in a proclamation of Friday as a 'GREAT AND BRILLIANT DAY FOR THE WORLD.' At 10:29 a.m. ET, the positive news regarding both Iran and President Trump's statements about the Strait of Hormuz being open was already impacting markets, with crude oil prices falling over 10% and Wall Street rallying towards a record-breaking day. The S&P 500 had risen 0.7%, while both the NASDAQ and Dow Jones saw increases of 1%. At 9:33 a.m. ET, a point of clarification emerged as President Trump stated that the blockade on Iranian vessels at the Strait of Hormuz would remain in full effect. However, this was swiftly followed by a statement from the Iranian Foreign Minister at 8:55 a.m. ET, who declared via social media that the Strait of Hormuz was 'completely open.' Seyed Abbas Araghchi specified that the strait was declared fully open in alignment with the remaining period of the ceasefire in Lebanon. Earlier in the day, at 6:25 a.m. ET, President Trump had taken to social media to herald the ceasefire announcement between Israel and Lebanon as a 'historic day for Lebanon.' In a subsequent message, he expressed his hope that Hezbollah would conduct itself 'nicely and well' in the aftermath of the truce between the two nations