US stocks led global shares higher on Monday after Federal Reserve policymakers sounded cautious notes on near-term interest rate increases, while the US currency slipped.
The probability markets assigned to a Fed rate hike at next week’s meeting fell to 15 percent from 24 percent on Friday according to CME Group’s Fed Watch tool.
The Dow Jones industrial average rose 239.62 points, or 1.32 percent, to 18,325.07, the S&P 500 gained 31.23 points, or 1.47 percent, to 2,159.04 and the Nasdaq Composite added 85.98 points, or 1.68 percent, to 5,211.89.
A gauge of equities across major markets .MIWD00000PUS turned positive on Brainard’s remarks after falling 1 percent earlier in the session. It was last up 0.3 percent.
European stocks ended down 1 percent, cutting an earlier loss in half. Asian stocks finished lower, tracking Wall Street’s large decline on Friday. Nikkei futures .NKc1 were flat after having fallen more than 1.5 percent earlier.
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