Daily stock market news article
U.S. stocks rebounded on Monday, recovering a significant portion of the losses from the previous week.
Key highlights from Monday's trading:
Idexx Laboratories soared 27.5% after reporting better-than-expected profits for the spring quarter and raising its full-year forecast.
Wayfair climbed 12.7% after the retailer also surpassed analyst expectations for profit and revenue.
CommScope saw a massive 86.3% increase after announcing a deal to sell a business unit for $10.5 billion.
Tesla rose 2.2% after awarding CEO Elon Musk a new stock-based compensation package.
Berkshire Hathaway dropped nearly 3% after reporting a decline in profit for its latest quarter, partly due to a falling investment in Kraft Heinz.
On Semiconductor fell 15.6% after its profit matched expectations, but the company noted signs of customer caution.
The rebound was also fueled by increased expectations that the Federal Reserve will cut interest rates at its next meeting in September, a sentiment that grew stronger after Friday's disappointing jobs report.
Internationally, indexes across much of Europe and Asia also saw gains, with France's CAC 40 climbing 1.1% and South Korea's Kospi rising 0.9%.