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US Equities Reclaim Losses as Fed Rate-Cut Bets Strengthen

Fueled by standout earnings, the rebound sets the stage for Fed policy cues.

Unexpectedly weak jobs data has led to increasing investor optimism that the U.S. Federal Reserve will soon cut interest rates.
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Overview

  • US stocks posted strong gains Monday with the S&P 500 up 1.3%, the Dow Jones rising about 507 points and the Nasdaq climbing 1.8%; ASX futures pointed to a 0.9% gain at the open.
  • Slowing job growth and a rise in unemployment to 4.2% boosted Federal Reserve rate-cut odds for September above 80% after weak labour data.
  • Idexx Laboratories surged 26% after beating profit expectations for the quarter and raising its full-year forecast.
  • CommScope stock jumped 89.5% on stronger-than-expected earnings and a $10.5 billion sale of its cable business to Amphenol.
  • Stocks also reacted to individual catalysts such as an 18% intraday jump in American Eagle Outfitters following President Trump’s endorsement of its Sydney Sweeney ad and a 2.1% gain for Tesla after issuing CEO Elon Musk 96 million restricted shares valued at about $30 billion.