The military standoff, which had dragged Wall Street lower in recent days, showed signs of de-escalating, easing concerns over disruptions in global energy supplies.
The military standoff, which had dragged Wall Street lower in recent days, showed signs of de-escalating, easing concerns over disruptions in global energy supplies. By Coral Murphy Marcos Global stocks climbed on Tuesday after Russia’s Defense Ministry announced that the country would pull back from its military standoff in Ukraine, easing concerns over disruptions in global energy supplies. The Stoxx Europe 600 climbed 1.3 percent, while Germany’s DAX index rose 1.7 percent and the CAC 40, the benchmark index in France, was up 1.4 percent. The S&P 500 was set to climb more than 1 percent on Tuesday when U.S. markets open, futures showed. Futures of the tech-heavy Nasdaq were up more than 2 percent. The announcement came after Russia amassed large numbers of troops on Ukraine’s border, threatening an invasion and prompting concerns over disruptions to natural gas exports through Ukrainian pipelines that flow to Europe. On Tuesday, the Russian Defense Ministry said that it would withdraw troops from the neighboring country, but added that some military exercises that had raised concerns of an attack against Ukraine were continuing. The threat of a military conflict dragged major indexes lower in recent days, pushing the S&P 500 down more than 4 percent in the last three days. Concerns over possible energy disruptions also drove up already high oil and natural gas prices. Brent crude, the international standard, jumped above $96 a barrel on Monday. Crude oil futures fell sharply on Tuesday after Russia’s announcement. Brent crude fell 2.7 percent to $93.85, and West Texas Intermediate, the U.S. benchmark, was down nearly 3 percent to $92.64. By Michael J. de la Merced In an inconspicuous fashion — via a regulatory filing with the Securities and Exchange Commission — Elon Musk, Tesla’s chief executive, disclosed on Monday that he gave nearly $6 billion worth of the company’s shares to charity last year, instantly propelling him into the upper ranks of philanthropic donors. But the document gave little information about where he directed his wealth, the DealBook newsletter reports. Mr. Musk donated just over five million shares in November, according to the filing. Based on the average price of Tesla shares on the days he sold, that is worth roughly $5.7 billion. That would make him the second-biggest donor last year, behind only Bill Gates and Melinda French Gates and their $15 billion in giving, according to the Chronicle of Philanthropy.
