Stocks Hit Records on AI Trade, Iran Deal Prospect | The Opening Trade 8/5/2026

Global stocks climbed to a record as hopes rose for a US-Iran deal to open the Strait of Hormuz, while investors renewed bets on the artificial intelligence trade, driving gains in chipmakers. S&P 500 futures rose after the index hit another all-time high, buoyed by a rally in technology stocks. Europe’s Stoxx 600 hit a new record, as did MSCI’s All Country World Index. Brent crude held around $80 a barrel after Tuesday’s plunge, as Axios reported that Washington, Tehran and Oman were neari...