Investing.com - U.S. stocks opened sharply higher on Tuesday, as market sentiment strengthened after concerns over ongoing tensions between Ukraine and Russia eased.
During early U.S. trade, the Dow Jones Industrial Average jumped 1.10%, the S&P 500 advanced 1.08%, while the Nasdaq Composite index rallied 1.11%.
Market sentiment improved after Russian President Vladimir Putin said a military deployment in Ukraine is not needed now but the “possibility” still remains, and added that if Russia takes action it will be legitimate.
Global equities strengthened earlier, after the Russian defense minister ordered troops engaged in military exercises close to Ukraine’s borders to return to their bases.
But investors remained cautious, as Russian forces were still maintaining a military presence in Ukraine’s Crimea region. Meanwhile, the U.S. was likely to impose economic sanctions on Russia later in the week, following its military incursion into Crimea.
Apple shares climbed 0.60% after the tech giant said CFO Peter Oppenheimer will retire at the end of September.
Adding to gains, Abercrombie & Fitch surged 6.01% after Credit Suisse Group upgraded the teen-clothing retailer.
Facebook saw shares rally 1.20% after TechCrunch reported that the social-networking company could acquire Titan Aerospace for around $60 million.
Meanwhile, Sprint Corporation advanced 3.40% as another senior executive was said to be leaving the U.S. wireless company. Several key leaders have already exited the form since it was acquired last year by Japan''s SoftBank.
On the downside, RadioShack shares dove 17.28% after reporting fourth-quarter sales below expectations.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 jumped 2.39%, France’s CAC 40 rallied 2.40%, Germany''s DAX surged 2.28%, while Britain''s FTSE 100 climbed 1.52%.
During the Asian trading session, Hong Kong''s Hang Seng Index climbed 0.70%, while Japan’s Nikkei 225 Index gained 0.47%.
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