The threat of nuclear war seems higher than it has in ages, but the stock market wants what wants—and it wants to go higher. The S&P 500 rose more than 0.5% on Thursday and is less than a percentage point away from adding to the more than 50 record highs its hit this year.

Escalating tensions between Ukraine and Russia sent investors rushing into safe havens such as gold and Treasurys on Tuesday.

Stocks are set for a cautious open Thursday following Nvidia's highly-anticipated third quarter earnings report.