US stock indices are mostly higher in midday trading, supported by hopes for a deal to reopen the Strait of Hormuz. The S&P 500 is up 0.10%, the Dow Jones Industrial Average is up 0.05%, and the Nasdaq 100 is up 0.15%. Crude oil prices gave up an overnight advance of more than 2% after Pakistan's defense minister said signals suggest the US and Iran are close to an agreement, which helped push bond yields lower and supported equities. Chipmakers and AI-infrastructure stocks are also providing a lift, with ASML Holding up more than 4% and KLA Corp up more than 3%. On the downside, ON Holding AG fell more than 18% after reporting weaker-than-expected quarterly net sales.
