U.S. stocks traded about 1 percent higher Monday, attempting to extend a recent recovery from correction levels, as investors awaited earnings reports and digested implications from Friday's jobs report on the timing of a rate hike.
"I think we had a very successful retest of the August lows so there's reason for optimism," said James Meyer, chief investment officer at Tower Bridge Advisors. "But we're not out of the woods yet. ... It's not completely complete that you can say 'all clear.' In fundamental terms I think we overbid it on the pessimistic side.