Global Markets React as Wall Street Takes a Holiday

A holiday on Wall Street allowed global markets to chart their courses independently on Monday. Chinese tech stocks experienced significant gains, while European markets remained steady amidst pressure on long-dated bonds. Europe's STOXX 600 rose by 0.1%, although initial optimism from improved manufacturing data quickly waned.

The global spotlight is expected to shift to the United States later this week, where various economic indicators, including manufacturing, services, and August payrolls, will be released. Experts anticipate a 75,000 increase in employment, though predictions vary significantly due to the unexpected weakness in July's report. The Federal Reserve's policy decisions hinge on the labor market data, as some suggest potential interest rate cuts.

Concerns about U.S. tariff policies persist after a recent court decision left tariffs in place until mid-October while awaiting an appeal. In Europe, investors focus on France's political tensions, which affect bond yields. Additionally, the euro and oil prices rose as global markets assess geopolitical and economic developments.

(With inputs from agencies.)