Stocks hover near record highs and oil prices stabilise with talk of a deal to open Strait of Hormuz

Stocks wavered in afternoon trading on Wall Street Wednesday and hovered around their records set a day earlier, while oil prices held steady. The S&P 500 rose 0.1 per cent. The Dow Jones Industrial Average added 473 points, or 0.9 per cent, as of 2:12 p.m. Eastern time. The Nasdaq composite fell 0.4 per cent. The S&P 500 and the Dow both set records on Tuesday, while the Nasdaq is 2 per cent below its record. Every major index had been surging this week, giving August a strong start.

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