Stocks mostly rise ahead of US pricing data, ECB meeting

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NEW YORK – European and US stock markets bounced higher and the dollar recovered on Monday after big pre-weekend falls over concerns about the health of the US economy.
Global stocks slumped Friday after data showing weaker-than-expected US jobs growth.
Following Friday’s sharp losses — which came on the heels of drops earlier in the week — a rebound attempt was no surprise, said Briefing.com analyst Patrick O’Hare.
Wall Street indices spent the entire session in positive territory, with all three major indices ending up about 1.2 percent.
Apple announced new iPhones built for generative artificial intelligence as it hopes to reignite growth after a difficult period for sales. The tech giant’s shares climbed less than 0.1 percent.
Markets are looking ahead to Wednesday’s consumer price index report, which will be closely scrutinised ahead of an upcoming Federal Reserve decision.
The Fed is widely expected to cut US interest rates on September 18, but markets are not sure by how much.
In Europe, investors awaited an expected interest-rate cut from the European Central Bank on Thursday.
The European Central Bank is set to cut eurozone borrowing costs once more as inflation in the single-currency bloc drifts back towards the ECB’s two-percent target.
Asian shares ended lower on Monday.
A slight uptick in Chinese inflation did little to soothe worries about the world’s number-two economy, with the reading at a six-month high but missing forecasts.
Oil prices clawed back some of Friday’s big losses in a move seen as a technical bounce and supported by forecasts of a Gulf of Mexico storm that could curtail output in the US oil-producing region.