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STORY: U.S. stocks bounced back on Monday after multiple sessions of selloffs as investors eyed key corporate results this week that should provide more insight on the health of the economy.

The Dow gained nearly seven-tenths of a percent, the S&P 500 nearly nine-tenths and the Nasdaq climbed more than one percent.

Prior to Monday’s rebound, geopolitical tensions and investors’ rate-cut re-evaluations in light of hotter-than-expected inflation and jobs data contributed to a six-session decline by the S&P and Nasdaq.

Markets are now gearing up for quarterly results from some of the so-called Magnificent Seven Big Tech companies this week, including Tesla, Meta Platforms, Alphabet and Microsoft.

Lisa Schreiber is investment analyst at Gradient Investments.

“We are at the point where I think it's the most important earnings season for Big Tech now - because expectations are so high and because they are raising concerns and questions if they can keep up their performance, if they can keep up their deliveries. Or if we saw weakness actually and what they're guiding going forward.”

Shares of Alphabet, Amazon and Apple gained between one-half to one-and-a-half percent on Monday. Nvidia jumped more than 4% to rebound from a 10% drop in the previous session.

But Tesla shares dropped nearly 3.5% as the electric vehicle maker cut prices in a number of its major markets, including China and Germany, following price reductions in the United States.

Investors this week will also be closely watching Friday’s key personal consumption expenditures or PCE report - the Federal Reserve’s preferred inflation gauge - for clues about the central bank’s monetary policy path.