European and US stock markets bounced higher and the dollar recovered Monday after big pre-weekend falls over concerns about the health of the US economy.
Global stocks slumped Friday after data showing weaker-than-expected US jobs growth.
Following Friday’s sharp losses — which came on the heels of drops earlier in the week — a rebound attempt was no surprise, said Briefing.com analyst Patrick O’Hare.
“It is simply the start of something after big losses, which makes it reflexive in nature,” he said in a note to clients before trading began.
“Will there be a successful buy-the-dip rebound or will the gains invite renewed selling pressure?”
Wall Street indices spent the entire session in positive territory, with all three major indices ending up about 1.2 percent.
Apple announced new iPhones built for generative artificial intelligence as it hopes to reignite growth after a difficult period for sales. The tech giant’s shares …