The Dow adds more than 420 points | Wholesale prices jump | Cramer’s message on inflation

A slight easing in geopolitical tensions between Russia and Ukraine spurred stocks' first positive session in four on Tuesday.

VIEW IN BROWSER | SUBSCRIBE TUE, FEB 15, 2022 EVENING BRIEF AS OF TUE, FEB 15, 2022 • 04:59 ET DJIA 34988.84 +1.22% +422.67 S&P 500 4471.07 +1.58% +69.40 NASDAQ 14139.76 +2.53% +348.84   Most Active DOW NAME LAST CHG %CHG AAPL 172.79 +3.91 +2.32% INTC 48.44 +0.86 +1.81% MSFT 300.47 +5.47 +1.85% S&P 500 NAME LAST CHG %CHG AMD 121.47 +7.20 +6.30% NVDA 264.95 +22.28 +9.18% F 18.08 +0.62 +3.55% NASDAQ NAME LAST CHG %CHG AMD 121.47 +7.20 +6.30% NVDA 264.95 +22.28 +9.18% AAPL 172.79 +3.91 +2.32%   EDITOR'S NOTE A slight easing in geopolitical tensions between Russia and Ukraine spurred stocks' first positive session in four on Tuesday.   Following news that the Russian Defense Ministry said it had begun returning some troops to their bases, the Dow Jones Industrial Average popped more than 420 points. The S&P 500 rallied nearly 1.6% and the Nasdaq Composite added 2.5%. The small-cap benchmark Russell 2000 was the standout performer, gaining close to 2.8%.   President Joe Biden addressed the conflict on Tuesday afternoon, saying the United States will defend NATO members if the situation intensifies.   Energy stocks fell alongside the price of oil, which tumbled more than 3%. Meanwhile, reopening plays like airlines and cruise lines popped.    "Both the military developments in Ukraine and the Fed's adjustment of policy are short-term phenomena in the market," said Michael Arone, chief investment strategist State Street Global Advisors. "If you take a step back, at least for now, I think that corporate earnings are still good, the economy is still expanding. There's a lot to like about stocks." Up next, investors will be monitoring the Federal Reserve's minutes from its last meeting. They will watch carefully for any new insights on the central bank's plans for rate hikes or the inflation outlook.    This follows the hot producer price index report on Tuesday that showed final-demand goods and services rose an unadjusted 9.7% from a year prior.   "If the reveal is the Fed believes they're behind the curve... that is interesting, and will have investors on their back foot. They'll be thinking even more rate hikes and additional tightening," said Arone. Maggie Fitzgerald | CNBC Markets Reporter @mkmfitzgerald Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow jumps 400 points and snaps 3-day losing streak, Nasdaq pops 2.5% Biden pledges 'full force' to defend Americans, NATO allies with Ukraine under Russian threat Russia says it's begun partial troop pullback from Ukraine border; NATO urges caution Wholesale prices rise 1% in January, up near-record 9.7% over the past year Vote on Biden Fed picks delayed as GOP presses for answers on Raskin's ties to firm Sandy Hook families reach $73 million settlement with riflemaker Remington over 2012 school massacre Some lawmakers and their families are betting thousands of dollars on crypto 'The Big Short' investor Michael Burry places a bet on electric motorcycles Soaring lumber price adds nearly $19,000 to the cost of a new home Cramer's message to investors and the Fed: Inflation may have just peaked   TOP VIDEO Pres. Biden's full remarks on Russia and Ukraine: We are ready to continue pursuing high-level diplomacy   CNBC PRO Starboard Value's Jeff Smith shakes up portfolio, adds more than a dozen SPACs   SPECIAL REPORTS After-tax 401(k) contributions can be a game-changer for big savers These entrepreneurs want Black investors to build generational wealth through crypto   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS Watch our live stream for all you need to know to invest smarter.