Stock Markets Rebound as Oil Prices Ease

The global stock market is experiencing a rebound on Monday as oil prices and bond yields ease. The S&P 500 rose by 0.6% and pulled back within 1.3% of its all-time high set last month, while the Dow Jones Industrial Average was up 224 points or 0.4%. The Nasdaq composite climbed 0.8%.

The drop in oil prices helped to lower the pressure coming from the bond market. Brent oil fell by 3.1% to $100.62, down from nearly $110 it touched last week.

Worries about oil availability remain as ING commodities strategists Ewa Manthey and Warren Patterson wrote that profit-taking by investors after the recent jump in oil prices has improved market sentiment.