Capital markets are breathing a sigh of relief after Putin says he is ending Russian military exercises near the Ukraine border.
U.S. stock markets look to recover all of yesterday’s selloff, as the S&P +1% and the Dow and Nasdaq +1.1%.
European markets are rallying: Germany's DAX +2.1%, France's CAC +2.1%, U.K.'s FTSE +1.4%.
Asian markets closed mixed: Japan's Nikkei +0.5%, Hong Kong's Hang Seng +0.7%, China's Shanghai Composite -0.2%.
Safe-haven assets that fared so well yesterday are down today: The 10-year Treasury note is down 10 bps to push its yield up to 2.64%, gold -1.3% to $1332.60/oz., and Brent crude -1.4% to $109.63/bbl.
In corporate news, RadioShack -19% and McDermott -7% after reporting miserable quarters; J.C. Penney +8% after S&P raised its outlook.