Stocks started the week mixed on Wall Street, despite being down heavily in the red during premarket action. Traders got a jolt of positive news later in the morning to help mask the taste still left by Thursday’s Employment Situation. The ISM non manufacturing survey came in with a reading of 47, above estimates of 45.5. However, any reading below 50 indicates contraction within the economy. The major indices overcame a sharp decline in the energy sector as crude oil fell to a five-week low on growing concern that the global economic recovery will falter, curbing fuel consumption.

The Dow Jones industrial average rose 44.13, or 0.5 %, to 8,324.87, and the broader Standard & Poor’s 500 index gained 2.30, or 0.3 %, to 898.72. The technology-heavy Nasdaq composite index fell 9.12, or 0.5 %, to 1,787.40. The Russell 2000 index of smaller companies declined 3.18, or 0.6 %, to 494.03.

Morning Outlook

Overnight in Asia, Japan saw its Nikkei average close with its 5th consecutive decline as investor confidence grows extremely shaky. The Nikkei 225 stock average fell 33.08 points, or 0.3 %, at 9,647.79 while Hong Kong’s Hang Seng shed 117.14, or 0.7 %, to 17,862.27.

Stocks were up very, and I mean very modestly in Europe late in the morning. Britain’s FTSE 100 index gained 17.66 points, or 0.4 %, at 4,212.57 while Germany’s rose 9.35 points, or 0.2 %, at 4,661.17. The CAC-40 in France was 8.89 points, or 0.3 %, higher at 3,091.05.

On Wall Street, futures point to a slightly higher opening a day after the markets rebounded from heavy premarket losses. Dow Jones industrial average futures rose 15, or 0.2 %, to 8,292. Standard & Poor’s 500 index futures advanced 1.70, or 0.2 %, to 897.20, while Nasdaq 100 index futures gained 4, or 0.3 %, to 1,445.

Currencies and Commodities

The dollar traded at 95.287 yen, falling 0.0656% in the forex market. The euro appreciated 0.3622% to $1.4035 while the pound lost 0.2456% to $1.6246. Gold moved higher for the second day, rising $3.90 to $928.20 an ounce, while silver gained 0.62% at $13.32. Light, sweet crude for August delivery looks for its first gain since last week; rising 71 cents to $64.76 on the NYMEX; a 1.11% tick up.