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Story summary
- U.S. stocks hit record highs while gas stayed above $4 per gallon and Iran-related shipping issues persisted.
- The S&P 500 jumped nearly 3% on March 31 and has risen another 10% since.
- The Strait of Hormuz stays closed, locking in about one-fifth of global oil and raising shortage risks.
- Investors say the risk is priced in as the Citi Economic Surprise Index posts its longest positive run in nearly two decades.
