US shares rose, while Asian shares cut losses on Monday as traders assessed the possibility of a summit on Ukraine between President Joe Biden and Vladimir Putin.
Nasdaq 100, S&P 500 and European futures contracts turned upwards.
France said its proposal for a diplomatic meeting had been accepted by Biden and Putin. US officials said the summit would only take place if Russia did not invade Ukraine. There was no immediate confirmation from Moscow, which has repeatedly denied its plans to invade.
Demand for safe havens fell slightly, pushing gold below $1,900 an ounce.
The dollar lost ground to the euro, which as of Monday morning is giving almost full absorption to Friday's Thursday of last week.
This Monday (Feb. 21) is Presidents Day, a federal holiday. No shares will be traded on NASDAQ or NYSE.