U.S. stocks climbed, pushing the benchmark S&P 500 Index to an all-time high, extending a rally from Friday when a better-than-forecast jobs report brightened the economic outlook without fueling expectations that the Federal Reserve will raise interest rates sooner.

The June payrolls data calmed concern brought about by the previous month's report that showed hiring had slowed to the weakest pace since 2010. The latest figures may convince investors that the economy will continue to expand in the face of weaker profits and Britain's vote to leave the European Union. Further reassuring investors, the Bank of England and the European Central Bank have said they'll act to arrest any fallout of Brexit, and a victory for the ruling party in Japan cleared the way for stimulus.

The S&P 500 advanced 1.5 percent on Friday, rising more than 1 percent for the fourth time in two weeks. The gains restored $1.4 trillion of market value that was erased after the U.K. voted to leave the EU on June 23. Before the payrolls figures, a report Wednesday showed service providers expanded in June at the fastest pace in seven months and Fed minutes indicated less urgency in the need to raise interest rates.

Traders price in little chance of an increase in borrowing costs this month and see less than even odds of a hike until at least the end of 2017. Probabilities for a move were as much as 55 percent at the beginning of June.

Even as the latest bout of global anxiety eased, the CBOE Volatility Index edged higher by 1.8 percent to 13.44. The measure of market turbulence known as the VIX sank 11 percent on Friday, capping the first back-to-back weekly declines since April.

Investors will also turn their attention to earnings with Alcoa Inc.'s report after the markets close on Monday. Analysts predict profit for S&P 500 companies will drop 5.7 percent, which would make it the fifth straight quarterly decline, the longest streak since 2009.