The stock market got a reprieve on that front on Monday after U.S. Commerce Secretary Wilbur Ross announced that it was extending by another 90 days a temporary reprieve for Huawei to do business with American firms. Traders also looked ahead to the release of the Federal Reserve’s minutes from its July meeting. The central bank cut rates by 25 basis points last month.
Equities rose on Monday as a rebound in bond yields continued, easing ongoing recession fears. The White House has also stepped the rhetoric on the debate over whether the U.S. economy will soon enter into recession mode.