Stocks notched another day of solid wins as investors found a glimmer of hope that the conflict between Ukraine and Russia may start to ease, with a ceasefire looking a bit more likely. Though both sides have brushed off the suggestion that a deal is imminent, Russia did promise a drastic reduction in its military force near Ukraine's capital. Investors also kept an eye on the 5-year Treasury note today, which remained above the 30-year and sparked some ongoing recession anxieties, while the 2-year and 10-year Treasury yields also neared an inversion. In response to today's news, the Dow gained 338 points. Strength in tech sent the Nasdaq to another triple-digit pop as well, while the S&P 500 added over 1% on Tuesday. 

The Dow Jones Average (DJI - 35,294.19) added 338.3 points or 1% for the day. Visa (V) led the gainers with a 3.3% gain, while Travelers Companies (TRV) paced laggards with a 1.6% drop.

The S&P 500 Index (SPX - 4,631.60) added 56.1 points for the day, or 1.2%, while the Nasdaq Composite (IXIC - 14,619.6) rose 264.7 points, or 1.8% in today's session.

Lastly, the Cboe Market Volatility Index (VIX - 18.90) lost 0.7 points or 3.7% for the day, logging its fourth-straight drop.

GOLD HITS LOWEST LEVEL IN OVER A MONTH

Oil prices continued to fall today as investors hold out hope that peace talks between Ukraine and Russia may start to progress this week. The commodity dropped $1.72 or 1.6%, for the most active, front-month contract May delivery to settle at $1054.24.

Gold hit its lowest level since Feb. 25 earlier in the session before settling at a nearly two week low. April-dated gold sank $27.60 or 1.4%, to close at $1,912.20 per ounce as the promise of easing geopolitical tensions has investors cycling out of the "haven" commodity. Moving forward, the June-dated contract will be followed as most active.