All three major U.S. stock indexes saw significant gains on Monday, the largest since May 27, following a selloff and increased bets for a September interest rate cut after weak jobs data. Tesla shares rose after granting CEO Elon Musk shares worth $29 billion. Odds for a September rate cut are at 84%.

Investors are still digesting President Trump’s firing of Bureau of Labor Statistics Commissioner and the resignation of Fed Governor Adriana Kugler. Trump has been pushing for rate cuts. Trump also announced raising tariffs on goods from India over Russian oil purchases. Earnings season is winding down, with focus on companies like Walt Disney.

Spotify gained 5% after announcing a price increase for its premium subscription. Joby Aviation rose 18.8% after acquiring Blade Air Mobility’s passenger business. Warren Buffett’s Berkshire Hathaway shares fell 2.7% due to a $3.8 billion write-down. Advancing stocks outnumbered decliners on both the NYSE and Nasdaq.

Read more at Yahoo Finance: Indexes post biggest daily pct gains since May 27 in rebound from Friday selloff