U.S. stocks finished mixed as optimism about the reopening of the Strait of Hormuz was offset by volatility in artificial-intelligence wagers. The Dow Jones Industrial Average rose 263.24 points, or 0.49%, to a record 54349.12. The broad S&P 500 edged down 12.97 points, or 0.17%, to 7723.55, and the tech-heavy Nasdaq Composite fell 221.55 points, or 0.83%, to 26363.44.

U.S.-traded oil futures fell 55 cents, or 0.73%, to $75.22 a barrel. Iran and Oman were reportedly finalizing a draft agreement to reopen the Strait of Hormuz. This potential agreement would give Tehran oversight of ships entering the Persian Gulf but wouldn’t let it levy tolls or service fees.

“Any agreement in that region through history has been fragile,” said JJ Kinahan, senior vice president at CBOE Global Markets. “The next one that lasts forever will be the first…let’s [hope for] something where things can stabilize as long as possible.”