OREANDA-NEWS  US stock indexes rose sharply following the results of trading on Tuesday, the Dow Jones Industrial Average and the S&P 500 ended the session at record highs.

The market was supported by hopes for a reduction in tensions in the Middle East, as well as strong corporate reports. Traders were enthusiastic about the statement by US Treasury Secretary Scott Bessent that Washington and Tehran could reach an agreement on the resumption of navigation in the Strait of Hormuz as early as Tuesday or Wednesday.

"There is a chance that today or tomorrow we will have an agreement on opening the strait," he said in an interview with CNBC.

Oil prices fell sharply on Bessent's statement.