• The Dow Jones Industrial Average rose over 150 points in Monday bid.
• Equities continue to recover ground as market sentiment climbs.
• Previous recession fears have eased following upbeat US data.

The Dow Jones Industrial Average (DJIA) climbed over 150 points in quiet trading on Monday as US market indexes broadly gain ground. Investors have rediscovered their risk appetite after a recent broad-based plunge sparked by fresh recession fears off the back of US economic data tilting to the downside faster than many had expected. However, an upturn at the tail end of a recent batch of US figures has soothed investor fears, and markets are broadly climbing once more.

Markets will now pivot to fully focus on upcoming central bank speaking notes as the Jackson Hole Economic Symposium looms ahead later in the week. At the current cut, markets still have a September rate cut fully priced in, according to the CME’s FedWatch Tool. Odds of a double cut for 50 bps have eased to less than 25% this week, down from a two-week high of over 70%, with rate traders piling into bets of a more reasonable 25 bps cut on September 18.