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 …