U.S. stocks rebound after sharp decline

U.S. stocks traded higher in the morning session on Monday, as investors re-assessed the impact of February's strong jobs data while no major releases are due during the day.

At midday, the Dow Jones Industrial Average gained 121.89 points, or 0.68 percent, to 17,978.67. The S&P 500 rose 5.42 points, or 0.26 percent, to 2,076.68. The Nasdaq Composite Index edged up 1.66 points, or 0.03 percent, to 4,929.03.

U.S. equities witnessed a broad-based sell-off Friday, as investors worried that a strong monthly jobs report heightened speculations that the Federal Reserve could raise interest rates sooner than expected.

Traders were wondering that the markets might overreact to the jobs report, as hourly wages only ticked up 0.1 percent, missing market consensus.

The coming week's economic-data schedule looks light, while Thursday's release of retail sales will be the economic highlight of the week.

Overseas, the European Central Bank began its 60 billion euros per month bond buying program on Monday with the aim to fend off deflation and boost the eurozone economy by pumping more money into the real economy.

In corporate news, Apple was in focus Monday as investors were looking for details on its new Apple Watch product, which is scheduled to be released in the afternoon. Apple shares added 0.73 percent around midday. Endite