* Putin sees no need for military force in Crimea
* Disney shares jump on long-term deal with Dish
* RadioShack closing 1,100 stores after sales tumble 20 pct
* Indexes up: Dow 1.4 pct, S&P 1.6 pct, Nasdaq 1.8 pct
By Angela Moon
NEW YORK, March 4 U.S. stocks rose on Tuesday,
with the S&P 500 at a record high, as fears of a confrontation
between Russia and Ukraine eased and Russian President Vladimir
Putin said there was no need to use military force in the Crimea
region for now.
The gains follow hefty losses in U.S. equities and other
risky assets on Monday. Global stocks rebounded while gold, the
Japanese yen and Treasuries prices fell. Crude oil prices, up
more than 2 percent on Monday, reversed some of that session's
Putin ordered troops involved in a military exercise near
the Ukrainian border back to their bases as he sought to ease
tensions a day after Russian stocks, bonds and currency were
"In the short term, the market always over reacts," said Kim
Forrest, senior equity research analyst at Fort Pitt Capital
Group in Pittsburgh. Forrest said she expects volatility to
return to the market as the situation in Ukraine remains fluid.
"We got marginally good news today but we don't know what's
going to happen tomorrow."
The Dow Jones industrial average rose 219.99 points
or 1.36 percent, to 16,388.02, the S&P 500 gained 26.76
points or 1.45 percent, to 1,872.49 and the Nasdaq Composite
added 76.894 points or 1.8 percent, to 4,354.195.
The S&P hit an intraday record of 1,871.44 while the Nasdaq
Composite touched a 14-year high.
"The longer-term trend of the U.S. equity indexes remains
positive," but short-term indicators "remain overbought and are
peaking as most indexes rally back to resistance at their 2014
highs," said Robert Sluymer, analyst at RBC Capital Markets, LLC
in New York.
Disney shares hit a record high after reaching a
deal with Dish Network that allows the No. 2 satellite
TV provider to carry Disney-owned networks such as ABC and ESPN,
and deliver the content outside of a traditional TV
subscription. Disney shares were last up 2.7 percent at $81.58
after earlier hitting $82.17.
Qualcomm Inc rose 3.8 percent to $76.40. The
world's biggest cellphone chip maker raised its share repurchase
authorization by $5 billion to $7.8 billion and increased its
cash dividend by 20 percent.
Shares of RadioShack Corp fell 15.3 percent to
$2.30. The struggling retailer said it would close up to 1,100
U.S. stores after a huge drop in holiday sales.