Stocks climb after Russia says it pulled back some troops on Ukraine border

Stocks jumped in morning trade after Russia's Ministry of Defense said that some of the forces the country had massed around the Ukraine border were being pulled back to their bases. Western officials, however, were in no rush to accept the remarks as an indication that Russia is de-escalating. 

The S&P jumped 1.4% to 4,461.55, while the Dow was up 1.3% at 35,013.11. The tech-heavy Nasdaq Composite advanced 1.7%.

"Markets rallied following reports that Russia is returning some troops, fueling optimism that tensions are easing," TD Securities analysts said in a report.