Stocks Soar, Oil Sinks After Iran Declares the Strait of Hormuz Open

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• 00:03

  Stocks are up, oil is down, after Iran says the Strait of Hormuz, a key shipping corridor, is now open.

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  So where does that leave the U.S. War with Iran?

• 00:12

  A senior Trump administration official says there may be more talks in Pakistan on Monday.

• 00:17

  And President Trump's feud with Pope Leo is dividing American Catholics.

• 00:22

  Trump won with more than 50% of the Catholic vote.

• 00:26

  It 's not a group he can afford to lose, and heading into the midterms,

• 00:28

  Republicans do n't want to lose anyone at this point.

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  It's Friday, April 17th.

• 00:32

  I'm Pierre Bien-Aimé for The Wall Street Journal, filling in for Alex Ossola.

• 00:36

  This is the PM edition of What's News, the top headlines and business stories that moved the world today.

• 00:46

  We begin in Iran, whose foreign minister today said the Strait of Hormuz is now,

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  quote, completely open to commercial ships.

• 00:53

  But President Trump said the U.S. Naval blockade on Iranian ports would remain.

• 00:57

  There's still uncertainty for shippers in the region.

• 01:00

  They want clear assurances from Iran that it won't attack ships before resuming normal traffic through the strait.

• 01:06

  Joining me now is national security correspondent Shelby Holliday.

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  Shelby, this is the third time you 've joined us this week to talk about this conflict

• 01:13

  where things are developing quickly.

• 01:15

  Get us up to speed.

• 01:17

  What's going on now in the waters around Iran?

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