Wall Street stocks rose on Wednesday as investors considered news that the US and Iran may be close to a peace accord as tech earnings season boosted the AI trade.

Investors considered an Axios story that the US is close to a one-page plan to end the war with Iran. Brent crude (BZ=F) fell below $100 per barrel after the announcement. President Trump’s abrupt hold on the US plan to enable ships traverse the Strait of Hormuz boosted hopes for a Middle East peace deal.

Earnings beats have boosted market confidence. About 85% of S&P 500 firms have exceeded profit projections and 77% have exceeded revenue expectations. AMD and Supermicro (SMCI) stocks rose more than 15% on Tuesday after better-than-expected quarterly forecasts.