U.S. stocks bounced back sharply Monday, recovering from Friday's sell-off triggered by renewed concerns over a weakening labor market.
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Despite the softer jobs data, investors found fresh optimism in rising expectations for Federal Reserve rate cuts. Markets are now pricing in an 88% chance of a 25-basis-point cut in September, with a 62% probability of another cut in October.
The Nasdaq 100 climbed 1.8%, trimming Friday's 2% loss, while the S&P 500 rose 1.4% after falling 1.6%.
On the trade front, President Donald Trump threatened further tariffs on India, accusing the country of reselling discounted Russian oil at a profit on global markets.
Palantir Technologies Inc. (NASDAQ:PLTR) — the S&P 500's top-performing stock this year — rose 3.7% ahead of its earnings report due after the close.
The U.S. dollar held steady after Friday's steep 1.4% drop, its worst session in nearly four months. Treasury yields continued to slide, with 30-year yields touching a one-month low at 4.79%.
Gold extended gains on lower yields and tariff fears, up 0.5% to $3,370 per ounce, while silver added 0.8% to $37.32.
Oil dropped 1.6% after OPEC+ confirmed a widely anticipated production boost of 547,000 barrels per day starting in September.
Bitcoin (CRYPTO: BTC) edged up 0.6% to $115,000.
Monday’s Performance In Major U.S. Indices, ETFs
| Major Indices | Price | 1-day % |
| Nasdaq 100 | 23,170.16 | 1.8% |
| Russell 2000 | 2,201.90 | 1.7% |
| S&P 500 | 6,322.52 | 1.4% |
| Dow Jones | 44,116.19 | 1.2% |
According to Benzinga Pro data:
- The Vanguard S&P 500 ETF (NYSE:VOO) rose 1.4% to $579.32.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 1.3% to $441.15.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) soared 1.7% to $563.37.
- The iShares Russell 2000 ETF (NYSE:IWM) rose 1.7% to $218.64.
- The Technology Select Sector SPDR Fund (NYSE:XLK) outperformed, up 2%; the Energy Select Sector SPDR Fund (NYSE:XLE) lagged, down 0.2%.
Monday’s Stock Movers
- Idexx Laboratories Inc. (NASDAQ:IDXX) soared 26% after beating Street’s estimates on both earnings and revenue last quarter.
- Other stocks reacting to earnings reports included Tyson Foods, Inc. (NYSE:TSN), up 4.5%; Wayfair Inc. (NYSE:W), up 11.6% and ON Semiconductor Corp. (NASDAQ:ON), down 11.4%.
- Berkshire Hathaway Inc. B (NYSE:BRK) sank 3%, reaching late January’s lows, after the company reported a 4% year-over-year decline in second-quarter operating profit, which fell to $11.2 billion. The company also disclosed a $3.76 billion writedown on its stake in Kraft Heinz Co. (NASDAQ:KHC) in the second quarter.
- Joby Aviation Inc. (NYSE:JOBY) surged 20.5% after announcing plans to acquire Blade Air Mobility in a deal valued at up to $125 million, expanding its electric air taxi footprint.
- CommScope Holding Co. (NASDAQ:COMM) exploded 88% following a report from The Wall Street Journal that Amphenol Corp. (NYSE:APH) is close to acquiring its broadband and cable business for $10.5 billion.
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