(CNBC) — U.S. stocks closed higher on Monday, recovering from Friday's sharp decline as investors took a more positive outlook on the strong jobs report.
"We're bouncing back a little bit from Friday's selloff," said Alan Skrainka, chief investment officer at Cornerstone Wealth Management. "Cooler heads prevail. People realize a great economy is good."
Investors saw a June rate rise more likely after February's nonfarm jobs report showed a gain of 295,000, above expectations of 240,000 in February, down from 257,000 in January.
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