Russian President Vladimir Putin has ordered troops who participated in surprise military exercises across central and western Russia back to their bases.
The news has sparked a rise in U.S. stock futures and weakened oil and gold prices.
The drills began last Wednesday, with some taking place near the border with Ukraine, exacerbating fears about a possible Russian invasion of its neighbor.
U.S. stock futures: Dow +0.8%. S&P +0.8%. Nasdaq +0.8%
Russian's blue-chip MICEX index, which plunged 11% yesterday, is +2.3%, while the USD-RUB is -0.6% at 36.26 rubles.
In Asia, Japan +0.5%, Hong Kong +0.9%, India +1.2%, China -0.2%.
Gold -0.8%, oil -0.75%.
U.S. 10-year Treasury yield +3 bps to 2.64%.