The moves followed a sharp pullback on Wall Street on Friday. All three major indexes posted their worst weekly declines in months, ending a run of positive market moves. The declines were exacerbated Friday after July’s jobs report came in weaker than expected,

The main U.S. equity indexes gapped up with authority at Monday's opening bell and sustained 1%-plus gains through the close. This marked a reversal from recent weakness as renewed hope for a rate cut sooner rather than later offset fear of what a softening labor market means for the broader economy.