NEW YORK, New York - Profit-takers swooped on Wall Street and global markets Monday, buying up heavily-sold-off stocks. "We're in a near-term counter-trend rally," Sam Stovall, chief investment strategist at CFRA Research, told CNBC Monday.

"Not much more to the downside, but … I think that will shake off enough loose hands to allow the market to try to find a bottom," he said.

Gains however were slimmed towards the close. Nonetheless all the key indices on Monday finished well in front:

• S&P 500 (^GSPC): The S&P 500 index rose by 36.18 points, or 0.64 percent, closing at 5,675.12.​

• Dow Jones Industrial Average (^DJI): The Dow Jones Industrial Average increased by 353.44 points, or 0.85 percent, ending at 41,841.63.​

• NASDAQ Composite (^IXIC): The NASDAQ Composite advanced by 54.58 points, or 0.31 percent, to close at 17,808.66.​

Global Forex Market Update: Monday's Currency Movements Sees Seel-off in U.S. Dollar

The foreign exchange market experienced notable fluctuations on Monday, with several major currency pairs showing significant gains against the U.S. dollar.

Euro / US Dollar (EUR/USD)

The euro strengthened against the U.S. dollar, climbing to 1.0919, an increase of 0.41 percent. This uptick reflects growing confidence in the eurozone's economic recovery.

US Dollar / Japanese Yen (USD/JPY)

The dollar, on the contrary, appreciated versus the Japanese yen, last trading at 149.20, up 0.39 percent. 

US Dollar / Canadian Dollar (USD/CAD)

The US dollar weakened against the Canadian dollar, on Monday, with the pair sliding to 1.4281, a decrease of 0.61 percent. 

British Pound / US Dollar (GBP/USD)

The British pound gained ground on the greenback, rising to 1.2992, up 0.44 percent. 

US Dollar / Swiss Franc (USD/CHF)

The U.S. dollar declined against the Swiss franc, dropping tot 0.8804, down 0.42 percent. Investors' flight to safe-haven assets like the Swiss franc contributed to this movement.

Australian Dollar / US Dollar (AUD/USD)

The Australian dollar saw a significant rise, jumping to 0.6387, an increase of 1.02 percent. 

New Zealand Dollar / US Dollar (NZD/USD)

The New Zealand dollar experienced the most substantial gain Monday, ending at 0.5821, up 1.43 percent against the dollar. Positive economic indicators from New Zealand played a key role in this sharp rise.

Global Stock Markets Rise Amid Positive Economic Indicators

Global stock markets experienced good gains on Monday, buoyed by positive economic data and investor optimism.

Canada

• S&P/TSX Composite Index (^GSPTSE): Canada's benchmark index climbed 231.71 points, or 0.94 percent, closing at 24,785.11.

UK and European Markets

European indices closed higher, reflecting investor confidence in the region's economic prospects.​

• The FTSE 100 in London rose by 0.56 percent to close at 8,680.29.​

• Germany's DAX increased by 0.73 percent, ending at 23,154.57.​

• In France the CAC 40 advanced 0.57 percent Monday to 8,073.98.​

• The EURO STOXX 50 index, representing major companies across the eurozone, climbed 0.77 percent to 5,445.55.​

• The Euronext 100 Index saw a 0.90 percent rise, closing at 1,595.03.​

• Belgium's BEL 20 surged 1.54 percent to 4,477.95.​

Asian Markets

Asian markets also reported gains, influenced by positive economic data from China and other regional developments.​

• In Japan the Nikkei 225 increased by 0.93 percent to 37,396.52. ​

• Hong Kong's Hang Seng Index rose 0.77 percent on Monday to 24,145.57.​

• In Singapore the STI Index climbed 0.61 percent, ending at 3,859.36.​

• Australia's S&P/ASX 200 advanced 0.83 percent to 7,854.10.​

• The ALL ORDINARIES in Australia increased 0.86 percent, closing at 8,082.10.​

• India's S&P BSE SENSEX saw a 0.46 percent rise to 74,169.95.​

• In South Korea the KOSPI Composite Index surged 1.73 percent, ending at 2,610.69.​

• Taiwan's TWSE Capitalization Weighted Stock Index rose 0.69 percent Monday to 22,118.63.​

• In China the SSE Composite Index edged up 0.19 percent to 3,426.13. ​

Mixed Performances

Some markets experienced declines:​

• Indonesia's IDX Composite decreased by 0.67 percent to 6,471.95.​

• New Zealand's S&P/NZX 50 Index Gross fell 0.82 percent, closing at 12,166.14.​

• Israel's TA-125 edged down 0.25 percent to 2,591.61.​

In contrast, Malaysia's FTSE Bursa Malaysia KLCI rose 1.04 percent to 1,527.81.​

Middle Eastern and African Markets

• Egypt's EGX 30 Price Return Index increased by 0.38 percent Monday to 31,458.60.​

• South Africa's Top 40 USD Net TRI Index advanced 1.18 percent, closing at 4,827.82.