‘Stronger than ever’: Trump celebrates Wall Street rally; controversy-laden American Eagle one of top gainers

US president Donald Trump declared that “America is very rich again” after US markets rallied sharply on Monday, reversing last week’s losses and restoring investor confidence amid economic jitters over jobs and tariffs.In a post on Truth Social, the President celebrated the market rebound with his trademark flourish: “Good day in the Stock Market (Dow + 585.06, 1.34%, S&P 500 + 91.93, 1.47%, NASDAQ + 403.45, 1.95%), but there will be many more days like this. America is very rich again, and stronger than ever before. Thank you for your attention to this matter!”All three major US indices closed significantly higher, recovering ground lost after Friday’s disappointing jobs report. The Dow rose by over 585 points to 44,173.64, while the S&P 500 gained nearly 92 points to reach 6,329.94. The tech-heavy Nasdaq jumped over 400 points to close at 21,053.58.The rally was partly fuelled by hopes that the Federal Reserve may cut interest rates in September, following signs that the US labour market is weakening. Treasury yields slipped again on Monday, reflecting expectations of looser monetary policy ahead.Investor sentiment was also boosted by better-than-expected earnings from several major companies. Idexx Laboratories surged 27.5% after reporting robust profits and raising its forecast for the full year. Tyson Foods added 2.4% after beating earnings expectations, while Wayfair climbed 12.7% on strong sales growth.American Eagle Outfitters saw one of the biggest gains of the day, soaring 23.6%, after Trump publicly backed the brand over controversy surrounding its Sydney Sweeney advert. The President wrote, “Go get ’em Sydney!” in support of the actress, whose campaign for the brand sparked debate about beauty standards.Tesla shares rose 2.2% after awarding CEO Elon Musk a massive $29 billion compensation package in a move aimed at securing his continued leadership amid fierce tech industry competition. CommScope rocketed 86.3% after selling its cable division to Amphenol for $10.5 billion.Despite these gains, On Semiconductor fell 15.6% after posting results that merely met analyst expectations, though the company said it was beginning to see signs of market stabilisation.Globally, markets mirrored the Wall Street rally. France’s CAC 40 climbed 1.1%, South Korea’s Kospi rose 0.9%, while Japan’s Nikkei slipped 1.2%.The rebound follows a turbulent week triggered by weak employment data and growing fears that Trump’s tariff policies were beginning to weigh on the economy.