Stock markets rallied on Monday, retracing sharp moves at the end of last week as investors looked ahead to a flurry of economic data and US corporate earnings.
Wall Street’s benchmark S&P 500 jumped 1.1 per cent — rebounding from Friday’s 0.5 per cent decline — led by financials including Charles Schwab, which rose 4.7 per cent even after the broker reported weaker than expected revenue for the third quarter.
The tech-heavy Nasdaq Composite climbed 1.2 per cent, having dropped 1.2 per cent on Friday. Netflix and Tesla release their quarterly numbers on Wednesday.
US government debt sold off, with 10-year Treasury yields rising 0.07 percentage points to 4.7 per cent, reflecting falling prices.
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