The Dow added more than 460 points and the S&P 500 finished well into the black, as investors bought up cyclical stocks that benefit from a better performing economy. Traders are rotating out of tech stocks following Nvidia's (NVDA) earnings report, which helped the tech-heavy Nasdaq move slightly higher. 

OIL PRICES HIT ROUGHLY 2-WEEK HIGH

Oil prices hit a roughly two-week high, after Ukraine claimed Russia used long-distance missiles capable of delivering nuclear weapons. However, Western officials disputed the claim. The now front-month, January-dated West Texas Intermediate (WTI) crude rose $1.35, or 2%, to settle at $70.10 per barrel.

Meanwhile, gold prices are on track for a fourth-straight win, hitting a more than one-week high, also on the back of Russia-Ukraine tensions. At last glance, gold for December delivery is up 0.6% at $2,674.90 an ounce.

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