⁍ Global equity markets surged and the dollar fell from two-month highs Monday.
⁍ Investors moved into beaten-down sectors such as banks and travel stocks.
⁍ Asian shares gained, with Chinese shares boosted by data over the weekend.
⁍ Dow Jones Industrial Average .DJI rose 488.98 points, or 1.8%, to 27,662.94; S&P 500 .SPX gained 54.73 points, or 1.66%, to 3,353.19; and Nasdaq Composite .IXIC added 162.86 points, or 1.49%, to 11,076.42
– US stocks were off to a strong start on Monday, with the Dow up more than 400 points in the first minutes of trading. The Nasdaq and S&P 500 were up more than 2% as well. The rebound came after last week’s brutal sell-off, which saw all three indexes decline for the week. “We’re seeing a bit of a relief rally,” Jonathan Bell, chief investment officer at Stanhope Capital, tells Reuters. “We saw quite a lot of exuberance in July and August, with prices particularly of tech stocks rising and that then has come off a little bit recently.”
Source: https://www.reuters.com/article/global-markets-int/relief-rally-pushes-equity-markets-higher-bonds-flat-idUSKBN26J06I