Rising oil prices and renewed tensions involving Iran weighed on US equities on Wednesday, but Wall Street remained close to record levels as investors continued to bet on a potential reopening of the Strait of Hormuz and drew support from strong corporate earnings.

Oil prices are rising following the latest fighting to threaten the U.S.-Iran ceasefire, but Wall Street isn’t very worried, and U.S. stocks are hanging around their records.

Wall Street is poised to open with gains and oil prices jumped again as tensions between the U.S. and Iran escalated