U.S. markets were closed in observance of the Labor Day holiday but last week, the bulls returned to Wall Street to start September off with a bang.
European and Asian markets took their cues from the better-than-expected U.S. economic data, including Friday's all-important jobs report, which showed fewer jobs were lost in August than economists had forecast.
The Nikkei, which hit a 16-month low on Aug. 31, launched into September with four straight sessions of gains, closing 2% higher Monday. But the Japanese stock index is still down nearly 12% from the start of the year as worries persist over the strong yen, which hit a 15-year high two weeks ago.
Still, the overall renewed optimism about the U.S. economy spilled over to other markets. The Hang Seng in China closed up 1.8% and European stocks followed the Asian indexes higher.
The CAC 40 in France ended 0.3% higher, the DAX in Germany rose 0.3%, and Britain's FTSE 100 also gained 0.2%.
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