Stock futures indicate a higher open after Friday's sharp, jobs-related sell-off. Financial shares are out in front after a positive note on large banks from Goldman Sachs.
Crude oil is down $0.73 at $69.22 a barrel. Gold added $2 to $1,006.30 an ounce. The dollar is lower against both the yen and the euro.
The ISM Services index is due for release at 10 a.m. ET. The index is widely expected to have improved to the 50 level, the line that divides expansion and contraction.
The data follow a disappointing September jobs report that triggered a sharp stock sell-off in Friday's trading. The government's report showed that a bigger-than-expected 263,000 jobs were lost last month. The Dow Jones Industrial Average fell 1.8% for the week, the S&P 500 fell 1.8% and the Nasdaq Composite dropped 2.1%.
Asian shares were mostly lower in reaction to Friday's U.S. trade, while Europe edged higher to start a new week.
Financial shares are early volume leaders, posting solid gains. Analysts at Goldman Sachs got more optimistic about large U.S. banks Monday, raising their coverage view on the sector to Attractive from Neutral, MarketWatch reports.
"The market has failed to recognize the dramatic improvement in earnings power at the large banks versus the regionals," the analysts said. "We believe this difference in earnings power has not been fully reflected in share prices."
Among the individual share changes: Wells Fargo & Co. (
WFC) raised to Buy; Comerica (
CMA) raised to Neutral; Capital One Financial (
COF) added to Conviction Buy List, which already includes J.P. Morgan Chase (
JPM) and Bank of America (
BAC).
In the tech space, Brocade (
BRCD) is gaining following a WSJ report that the company has quietly put itself up for sale. Hewlett-Packard (
HPQ) is among the companies looking at Brocade, and Oracle (
ORCL) may also be be examining a purchase, the paper said.