Stocks rose Monday as investors pared their bets on a Federal Reserve interest rate hike after data showed thousands of US jobs were lost in July, though another spike in oil prices dented sentiment.
Tech firms enjoyed a fresh bout of buying following a volatile run in recent weeks, with Japanese and Korean chipmakers leading the charge.
The positive mood was fuelled by figures from the US Bureau of Labour Statistics showing that 23,000 jobs were lost last month, while growth in May and June was revised downward.
The reading suggested the world’s number one economy was slowing, though traders welcomed the prospect that the Federal Reserve will hold off hiking borrowing costs for the time being.
The chances of an increase in September were slashed to about 43 per cent from 64 per cent a week ago, according to Bloomberg.
