Stocks in the United States neared a record high on Tuesday, on investors’ hope that a lull in fighting in the Middle East would hold and that corporate earnings would remain robust.

Markets have been lashed between geopolitics — disruptions in the Strait of Hormuz have throttled global oil supplies for more than five months — and anxiety about payoffs from massive investments in artificial intelligence. A recent rally has been driven by strong earnings from large tech companies, including Amazon, Microsoft and Palantir.

For several days, there has been talk of a possible agreement to reopen the strait, and President Trump on Monday said a deal could be close. But nothing has emerged yet and oil prices rose on Tuesday.