Wall Street Surge: Bargain Hunters Rally Amid Rate Cut Speculations

U.S. stock markets experienced their largest daily percentage increases since May 27, as investors sought bargains and anticipated a potential September interest rate cut after disappointing jobs data. Notably, Tesla shares rose after awarding Elon Musk a substantial share grant, reflecting optimistic market movements amid trade disputes and policy changes.

In a remarkable rebound, all major U.S. stock indexes recorded their most significant daily percentage jumps since May 27. Investors pounced on opportunities after recent selloffs, fueled by expectations of a September interest rate cut following underwhelming jobs data.

Leading the charge, Tesla shares surged 2.2% as CEO Elon Musk received a hefty share grant. Despite recent setbacks, market sentiment turned optimistic, particularly with a high probability of a rate cut driving investor confidence.

Elsewhere, geopolitical tensions mounted as President Trump announced increased tariffs on India for its Russian oil purchases. Market activity remained buoyant with Spotify's share price rise and Joby Aviation's significant acquisition deal. Investors continue to navigate complex economic and political landscapes.

(With inputs from agencies.)