Markets quickly moved into recovery mode despite opening in the red, brushing off IBM (IBM) and Tesla (TSLA) post-earnings underperformance, settling with impressive gains. The Nasdaq and Dow each logged triple-digit pops. The S&P 500 moved higher as well, and closed just shy of a record high.

Meanwhile, White House Secretary Karoline Leavitt said President Trump is slated to meet Chinese President Xi Jinping in South Korea, this time next week. Tomorrow, all eyes will be on the consumer price index (CPI) for September.

GOLD BREAKS HIGHER AS SAFE HAVEN DEMAND INCREASES

Crude futures surged an impressive 5%, after President Trump increased sanctions on two Russian oil companies. December-dated West Texas Intermediate (WTI) crude rose 5.4%, or $3.16, to settle at $61.66 per barrel. 

Gold came up for air Thursday, as investors flocked back to safe havens amid increased geopolitical and trade tensions. December-dated gold futures added 2.1%, to close at $4,152.40 per ounce.

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