- India restrict Pakistan to 105-8 in Women's T20 World Cup
- England target repeat of Pakistan Test whitewash
- Penrith Panthers win fourth straight NRL title after downing Storm
- Weary Sinner happy for day off after battling into Shanghai last 16
- Pakistan's Masood warns England still a force without Stokes
- Madrid's Carvajal to miss several months after serious knee injury
- Two elephants die in flash flooding in northern Thailand
- Sabalenka targets world number one and Wuhan hat-trick
- Tunisia votes with Saied set for re-election
- Bagnaia sets 'example' with Japan MotoGP win to cut gap on Martin
- Intense Israeli bombing rocks Beirut ahead of war anniversary
- Mozambique vote: no suspense but some disillusion
- Austrian rapper channels anti-racist rage in Romani hip-hop songs
- Ohtani magic powers Dodgers over Padres in MLB playoff thriller
- Five of the best: Pakistan-England Test thrillers
- Man sets arm on fire as marches across US mark Gaza war anniversary
- Vietnam's young coffee entrepreneurs brew up a revolution
- Trump rallies at site of failed assassination: 'Never quit'
- Too hot by day, Dubai's floodlit beaches are packed at night
- Is music finally reckoning with #MeToo?
- Fans hail Trump's 'guts' as he returns to site of rally shooting
- Lebanon state media says Israeli strikes hit south Beirut
- Miami on track for MLS record points after win in Toronto
- Monaco take top spot in Ligue 1 with win at Rennes
- Madrid beat Villarreal to level Liga leaders Barca
- Thuram treble fires Inter past Torino and up to second
- 'Fight': defiant Trump jets in to site of rally shooting
- Mexico City's new mayor sworn in with pledges on water, housing
- Israel on alert ahead of Hamas attack anniversary
- Guardians maul Tigers in MLB playoff series opener
- Macron criticises Israel on Gaza, Lebanon operations
- French rugby player whistled but 'serene' on return amid ongoing rape case
- Retegui hat-trick fires five-star Atalanta to hammering of Genoa
- Heavyweights Australia, England off to World Cup winning starts
- Visiting UN refugee agency chief decries 'terrible crisis' in Lebanon
- Spinners come to party as England defeat Bangladesh at T20 World Cup
- Search continues for missing in deadly Bosnia floods
- Man City sink Fulham to get title bid back on track
- France's Auradou whistled on Pau return in Perpignan loss amid ongoing rape case
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Arsenal hit back in style after Southampton scare
- Hezbollah heir apparent Safieddine out of contact after strikes
- Liverpool stay top of Premier League as Arsenal, Man City win
- In dank Tour of Emilia, Pogacar shines in rainbow jersey
- DR Congo launches mpox vaccination drive, hoping to curb outbreak
- Trump returns to site of failed assassination
- Careless Leverkusen held to Bundesliga draw
- O'Brien's 'superstar' Kyprios posts landmark win on Arc weekend
- Liverpool suffer Alisson injury blow
- Habosi helps Racing beat Vannes before Auradou's playing return
Beaten-down US stocks rally as Lagarde comments lift euro
Beaten-down Wall Street stocks rallied Monday amid hopes that equities have bottomed, while the euro advanced after European Central Bank chief Christine Lagarde signaled the end of negative interest rates.
US stocks, which have spent much of 2022 in the red and have seen relatively few quietly benign sessions, spent almost the entire day in positive territory before finishing solidly higher.
"It's a day where the market has finally been able to catch its breath, at least for now," said Art Hogan, strategist at National Securities.
US stocks began with momentum following gains in Europe as President Joe Biden hinted at relief in trade tariffs.
Appearing in Tokyo for the launch of a new Asia-Pacific trade initiative, US President Joe Biden said he was considering removing some of the punitive import duties enacted by former president Donald Trump on China.
Biden also announced that 13 countries had joined a new, US-led Asia-Pacific trade initiative.
Adding to that positive, some market watchers pointed to technical factors that suggest stocks may have reached a short-term bottom, setting the stage for a rebound.
The S&P 500 finished up 1.9 percent at 3,973.75. The broad-based index briefly tumbled into a bear market on Friday, a drop of more than 20 percent from its peak.
"After seven straight weeks of declines, bargain hunters are out in force, snapping up stocks after they fell to fresh 18-month lows on Friday," said Fiona Cincotta, senior financial markets analyst at City Index.
Meanwhile, the euro jumped more than one percent against the dollar after Lagarde said the central bank would probably draw a line under the era of negative interest rates by September owing to soaring eurozone inflation.
The ECB is "likely to be in a position to exit negative interest rates by the end of the third quarter," Lagarde wrote in a blog post.
"That's something that we were waiting for, so long," noted Swissquote analyst Ipek Ozkardeskaya.
"Lagarde is finally showing that the (inflation) situation is serious in Europe as well," she told AFP.
Central banks around the world are increasing interest rates to tackle the highest inflation in decades, but the ECB has so far refused to follow the likes of the Federal Reserve and Bank of England in hiking borrowing costs from record-low levels.
Eurozone inflation soared by an all-time high 7.5 percent in April.
The surge has been driven by soaring energy and food prices, as economies reopen from pandemic lockdowns and following Russia's invasion of Ukraine.
- Key figures at around 2030 GMT -
New York - Dow: UP 2.0 percent at 31,880.24 (close)
New York - S&P 500: UP 1.9 percent at 3,973.75 (close)
New York - Nasdaq: UP 1.6 percent at 11,535.27 (close)
London - FTSE 100: UP 1.7 percent at 7,513.44 (close)
Frankfurt - DAX: UP 1.4 percent at 14,175.40 (close)
Paris - CAC 40: UP 1.2 percent at 6,358.74 (close)
EURO STOXX 50: UP 1.4 percent at 3,708.39 (close)
Tokyo - Nikkei 225: UP 1.0 percent at 27,001.52 (close)
Hong Kong - Hang Seng Index: DOWN 1.2 percent at 20,470.06 (close)
Shanghai - Composite: FLAT at 3,146.86 (close)
Euro/dollar: UP at $1.0692 from $1.0564 on Friday
Pound/dollar: UP at $1.2587 from $1.2480
Euro/pound: UP at 84.92 pence from 84.64 pence
Dollar/yen: UP at 127.90 yen from 127.88 yen
Brent North Sea crude: UP 0.8 percent at $113.42 per barrel
West Texas Intermediate: FLAT at $110.29 per barrel
burs-jmb/bfm
G.Machado--PC