The Dow Jones Industrial Average rose for the first day in four on Tuesday after Russia appeared to be backing away from an immediate invasion of Ukraine, cooling geopolitical tensions that have knocked the stock market down the last three days.
The 30-stock index popped 411.4 points, or 1.2%, to 34,977.57, helped by a 3% jump in Boeing.
The S&P 500 regained 59.59 points, or 1.4 % to 4,461.26.
The NASDAQ surged 270.44 points, or 2%, to 14,061.36.
The Russian Defense Ministry said it had begun returning some troops to deployment bases after training exercises near the Ukrainian border.
Airline and cruise stocks led the gainers while energy companies were the biggest losers as oil prices fell. American Airlines rose 5% and Carnival Corp. added more than 4.5%. Meanwhile, Exxon Mobile fell 2% and ConocoPhillips lost 3%.
Certain technology names also charged higher. Netflix added 2% and Tesla rose more than 3.5%.
The producer price index, which measures final-demand goods and services, increased 1% for the month, against the Dow Jones estimate for 0.5%. Over the past 12 months the gauge rose an unadjusted 9.7%. Excluding food, energy and trade services, co-called core PPI increased 0.9% for the month, topping the 0.4% estimate.
Prices for 10-year Treasurys fell, raising yields to 2.04%, from Monday’s 1.99%. Treasury prices and yields move in opposite directions.
Oil prices fell $3.63 to $91.82 U.S. a barrel.
Gold prices sank $15.70 to $1,853.70 U.S. an ounce.