European markets bounce back as silver tops $40

European stocks climbed on Monday, recovering from a recent tech slump and setting a cautious but positive tone for September – a month known for being historically weak for markets.

The rebound comes at the start of a critical few weeks. With key U.S. jobs data, an inflation report, and the Federal Reserve’s next interest rate decision all due, investors are about to get a major test for the record-breaking market rally.

 

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Here’s what’s moving markets:

• Commodities shine: Silver surged past $40 an ounce for the first time since 2011, while gold also rose on growing optimism for a Fed rate cut.
• Tech pressure: Asian chipmakers struggled after the U.S. revoked waivers that allowed Samsung and SK Hynix to ship advanced technology to China.
• Key corporate news:
  • Alibaba’s stock jumped over 18% after reporting a major surge in AI revenue.
  • BYD shares fell following its first quarterly profit decline in three years.
  • Stada, the German drugmaker, is nearing a €10 billion sale to private equity firm CapVest.

With U.S. markets closed for a holiday, trading was quieter than usual, giving Europe the spotlight to start the week.