(CNBC) — 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 Russian Defense Ministry said it had begun returning some troops to deployment bases after training exercises near the Ukrainian border.
The Dow jumped 422.67 points, or 1.2%, to 34,988.84 helped by a 3.7% jump in Boeing. The S&P 500 climbed 1.6% to 4,471.07, and the technology-heavy Nasdaq Composite advanced 2.5% to 14,139.76. All three major benchmarks were down in the three prior sessions. The S&P 500 is about 7% from its record high. The small-cap benchmark Russell 2000 rallied 2.8% on Tuesday.