On Monday, U.S. stocks experienced a rise as Wall Street aimed to build upon the strong gains from the previous session. The optimism was fueled by new jobs data that renewed hopes of the Federal Reserve cutting interest rates.
The Dow Jones Industrial Average saw an increase of 189 points, representing a 0.5% gain. The S&P 500 also advanced by 0.4%, while the Nasdaq Composite gained 0.3% during the trading session.
Following fresh nonfarm payrolls data released on Friday, which showed the U.S. economy added fewer jobs than expected in April along with an increase in unemployment, the Dow, S&P 500, and Nasdaq all surged by over 1%. This news eased concerns about an overheating economy as traders became more optimistic about the possibility of the Fed lowering rates earlier than anticipated.
Source (CNBC)
