(Bloomberg) -- Wall Street’s blistering run wavered near all-time highs, with traders digesting the recent stock gains amid a slew of corporate earnings and hopes for a reopening of the Strait of Hormuz.

(Bloomberg) -- Stocks joined bonds higher as cooling tensions in the Middle East spurred a drop in oil prices, allaying worries about inflation.

US stocks are rallying to the edge of their all-time high after easing oil prices helped calm Wall Street’s worries that inflation could get even worse.