04:58 PM EDT, 08/04/2025 (MT Newswires) -- US equities rallied on Monday, reversing Friday's losses that followed disappointing jobs data, as traders awaited more earnings results and monitored trade developments.

The Nasdaq Composite jumped nearly 2% to 21,053.6, its first rise in three days, while the S&P 500 climbed 1.5% to 6,329.9 following a four-day losing streak. The Dow Jones Industrial Average advanced 1.3% to 44,173.6 after five straight sessions of losses. Barring energy, all sectors ended in the green, led by communication services and technology.

Friday's stock market sell-off came as a Bureau of Labor Statistics report showed that the US economy added fewer jobs than projected last month, while gains in the previous two months were revised sharply lower. The data suggested that labor market conditions were weakening.

US Treasury yields were lower, with the 10-year rate decreasing 2.5 basis points to 4.20% and the two-year rate dropping 0.8 basis point to 3.69%.

The White House on Thursday issued a list of new reciprocal tariff rates, ranging from 10% to 41%, on different countries. The US recently reached deals with several trading partners, including the European Union, Japan, the Philippines and Indonesia.

The European Union will suspend for six months its planned countermeasures against US tariffs, CNBC reported Monday, citing a statement from a European Commission spokesperson. The EU measures were due to take effect this week.

The US will be "substantially raising" the tariff rate on India over the Asian country's purchase of sanctioned Russian oil, US President Donald Trump said in a social media post Monday.

On the earnings front, Oppenheimer Asset Management said about two-thirds of S&P 500 companies have reported results in the latest cycle, with profits up 8.2% from a year earlier on 5.7% revenue growth. The brokerage's report released last Monday pegged the growth rates at 8.3% and 4.8%, respectively, based on financials reported by a third of the index constituents.

Some 124 S&P 500 companies are expected to report this week, according to the Oppenheimer. These include Eli Lilly ( LLY ) , Advanced Micro Devices ( AMD ) , McDonald's (MCD), and Walt Disney ( DIS ) .

West Texas Intermediate crude oil was down 1.8% at $66.13 a barrel in Monday late-afternoon trade. Over the weekend, eight members of the Organization of the Petroleum Exporting Countries and its allies agreed to increase oil production by 547,000 barrels a day next month.

"The market had largely expected the supply hike, one that marks the end of the group returning the full 2.2 (million barrel-per-day) of additional voluntary cuts," ING Bank said in a Monday report. "We believe the group is finished with its supply hikes, as we move out of the stronger summer demand period and inventories start to rise."

In company news, IDEXX Laboratories ( IDXX ) shares soared nearly 28%, the best S&P 500 performer, after the animal diagnostics and healthcare company lifted its full-year outlook and posted second-quarter results above market expectations.

Wayfair's ( W ) shares surged nearly 13% after the online furniture and home goods retailer reported a surprise increase in second-quarter earnings as revenue came in stronger than expected.

Gold was up 0.9% at $3,430.90 per troy ounce, while silver rose 1.4% to $37.45 per ounce.