Wall Street Rebounds Strongly After Labor Data Shock

US equities staged a vigorous recovery Monday as investors shrugged off last week's labor market concerns. The S&P 500 surged 1.5%, while the Dow Jones Industrial Average rallied 580 points. Tech stocks led the charge, with the Nasdaq Composite jumping 1.9% for its best performance since May.

Nvidia shares climbed 3% as megacaps Meta and Microsoft closed at record highs. The rebound follows Friday's market rout triggered by disappointing jobs data and downward revisions to previous months' employment figures. The weak report prompted former President Trump to fire the Bureau of Labor Statistics commissioner and vow to appoint a new agency head.

Traders now price in nearly 90% odds of a September rate cut after the Fed maintained its pause last week. The central bank's delicate balancing act continues as policymakers weigh softening employment against persistent inflation pressures.