00:00Meanwhile, oil prices fell sharply after U.S. Treasury Secretary Scott Besson said a deal could soon be reached with
00:07Iran to reopen the Strait of Hormuz.
00:10The prospect of restoring a key route for Gulf oil and gas exports after five months of disruptions lifted investor
00:19sentiment,
00:19pushing two of Wall Street's three major indices to fresh record highs.
00:26European markets also rallied, with benchmark indices in Paris and Milan closing at all-time highs,
00:33while Frankfurt and Madrid extended records set earlier this week.
00:37The gains mark a turnaround from last week's volatility.
00:40Technology stocks came under pressure over renewed concerns about heavy spending on artificial intelligence
00:46and how quickly those investments will deliver returns.
00:50Meanwhile, months of disruption to global energy supplies have boosted profits for major oil producers.
00:57BP reported second-quarter profits that more than doubled,
01:01although its shares fell nearly 5% in London as the strong results had already been wildly anticipated by investors.
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