(Reuters) – U.S. stock index futures jumped on Tuesday on news that Russia was pulling back some troops from near the Ukrainian border, in signs of a de-escalation in tensions between the two countries.
Russia’s defence ministry said that some units in military districts adjacent to Ukraine were returning to their bases after completing drills, helping alleviate fears of a conflict in the region.
However, it was not immediately clear if it was a temporary signal of any kind of significant pullback.
Markets across the globe were roiled by worries of a Russian attack on Ukraine, with the S&P 500 index and the Dow Jones Industrial Average ending lower on Monday.
Megacap growth stocks including Tesla Inc, Apple Inc, Amazon.com Inc, Microsoft Corp and Meta Platforms Inc rose between 1.6% and 3.0% in premarket trading.
Battered travel stocks including those of airline carriers and cruise operators also rose.
The CBOE Market Volatility index, a gauge for investor anxiety, fell back after shooting up to its highest level in nearly three weeks in the previous session.
At 5:36 a.m. ET, Dow e-minis were up 310 points, or 0.9%, S&P 500 e-minis were up 56.25 points, or 1.28%, and Nasdaq 100 e-minis were up 268.25 points, or 1.88%.
(The story corrects typographical error in headline)
(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel)
