Global Markets Bounce Back as Oil Prices and Yields Retreat

Stock markets worldwide saw gains on Monday after oil prices and bond yields retreated from last week's jumps.

The S&P 500 rose by 1.3% and pulled within 0.6% of its all-time high set in August, while the Dow Jones Industrial Average was up 308 points or 0.6% as of 12:44 p.m. Eastern time. The Nasdaq composite increased by 2%.

The decline in oil prices contributed to lower pressure from the bond market, with the yield on the 10-year Treasury easing to 4.95% from 5.01% late Friday after crossing above the 5% threshold last week for the first time in three years.

Worries remain about oil availability due to the ongoing conflict in Iran, but profit-taking by investors and hopes for constructive discussions at this week's U.N. General Assembly and a meeting between China's and the United States' leaders helped improve optimism.