U.S. stock markets started the week with slight gains, looking to recover after a recent sell-off fueled by economic factors.
Markets Up After Sharp Drop
On Monday's opening, the Dow Jones gained nearly 300 points, while the S&P 500 and Nasdaq rose by 0.8% and 0.95%, respectively. The slight gains across major indices came after multiple negative factors at the start of August.
Weak Jobs Data Triggered Sell-Off
The stock market sell-off on August 1 was triggered by a disappointing jobs report that came in weaker than expected. The data revealed that the U.S. labor market might be less stable than previously thought. As a result of this, President Trump fired Bureau of Labor Statistics commissioner Erika McEntafer.
Tariffs and Company Earnings in Focus
Investors are closely watching the U.S. economy and global trade relations. While the Federal Reserve left interest rates unchanged, there is a 90% chance of a cut in September. This week, several companies are set to release their quarterly reports, including Palantir and Disney.
With current economic indicators and tariff uncertainties, U.S. stock markets remain under pressure, but the start of the week shows some recovery.
