(CNBC) U.S. stocks jumped on Friday, with benchmark indexes turning higher for the week, on signals of reduced tensions in the Russian-Ukraine crisis and as Wall Street viewed American military moves in Iraq as limited.
Reuters, citing Russia's Interfax, reported that Russia had ended military exercises near the Ukrainian border. The war games, which began Monday, were scheduled to end Friday, according to media reports including the Guardian.
"This is a good excuse to work off an oversold condition," said Peter Boockvar, chief market analyst at the Lindsey Group, who questioned whether the development truly shed any light on Russian President Vladimir Putin's intentions.
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