EconomyStocks Hit Records on AI Trade, Hopes for Iran Deal

Global stocks advanced to record levels as expectations grew that the United States and Iran could reach an agreement to reopen the Strait of Hormuz. Investors renewed their enthusiasm for artificial-intelligence shares, lifting chipmakers. S&P 500 futures gained after the index reached another all-time high, supported by technology stocks. Europe’s Stoxx 600 and MSCI’s All Country World Index also set records. Brent crude remained near $80 a barrel after plunging on Tuesday, while Axios reported that Washington, Tehran and Oman were nearing an agreement.