Oil tumbles, stocks gain on US-Iran deal hopes

Global stocks reached a record high while oil prices fell nearly 2% amid hopes for a U.S.-Iran ceasefire deal. The MSCI world stocks index rose 0.4%, driven by chipmakers following positive forecasts from Dell. Despite the optimism, analysts caution that inflation pressures from high fuel prices may persist. Euro zone inflation remains above the ECB's target, and Japan's core inflation is below 2%, though factory activity shows resilience. The New Zealand dollar gained 2% after a hawkish outlook from its central bank.