Global stocks rebound on cyclical surge, gold edges higher

The Dow Jones Industrial Average rose 2.13%, the S&P 500 gained 1.34%, and the Nasdaq Composite added 0.94%, reversing early losses on declines in Amazon as Apple rose.

NEW YORK: Global equity markets rebounded on Tuesday, buoyed by a surge in cyclical stocks on Wall Street as investors bet the economic recovery would overcome a rollback of California's reopening, while safe-haven gold prices solidified gains above $1,800 an ounce.

The euro rose versus the dollar on optimism about the possibility of a European Union stimulus package, but market participants remained cautious, leading U.S. and euro-zone government debt yields to fall.