Past midnight in Moscow, a five-hour marathon session just wrapped. Putin sat down with Trump's envoys—Steve Witkoff and Jared Kushner—across that infamous long table at the Kremlin.

This marks the most substantive U.S.-Russia exchange since the conflict began. Did anything shift? Hard to say. But the fact they're talking for five hours straight? That's something. Markets hate uncertainty, and right now, even a flicker of dialogue matters more than you'd think.