I don't see, how (although we could have an oversold rally in Feb anyway). If putting a larger inspection force in place forestalls an American invasion, it leaves all that American buildup out there with nothing to do. dubya would have to bring it home, and I think the assumption would be that such a buildup would not be repeated. That would eventually leave Saddam to do whatever he wanted, and that can hardly be good for the markets.
The French are speaking with a forked tongue, while allying themselves with Germany planning a possible war less resolution, they have the Charles De Gaule, their only carrier, under full steam to the gulf....