North American stocks are higher in early trading, kicking off a new week by unwinding some of the selling of the old one.
After the first 15 minutes of trading, the S&P/TSX composite index was up 35 points at 11,378. The Dow Jones industrial average was up 68 points at 10,241, the S&P 500 was up 9 points at 1,101, and the Nasdaq composite index was up 13 points at 2,218.
It's a quiet morning for market news, with no premarket economic reports and only a smattering of second-tier earnings reports. Traders have so far been rooting out bargains after last week's sell-off, in which Canadian and U.S. markets lost about 4 per cent.
The U.S. markets may already have found a bit of upside resistance, though, as the S&P 500 tries to establish itself above the 1,100 level.
Stabilizing commodity prices are lending some support to Canadian stocks. Gold is up $4.50 (U.S.) at $1,096.50 an ounce in New York, while crude oil has inched up 8 cents to $74.62 a barrel.
The U.S. market has seen some positive earnings news this morning from some B-list names, including oil services company Halliburton, whose profits slightly topped analysts' estimates. The big focus on the earnings front Monday will be on tech and consumer bellwether Apple Inc., which reports after the closing bell.
Investors will also be taking a look at U.S. existing-home sales, due out mid-morning.
Overseas, European bourses are mostly lower. London's FTSE 100 index down 0.4 per cent.
Asian markets closed lower. Hong Kong's Hang Seng index was down 0.6 per cent and Japan's Nikkei index fell 0.7 per cent.
The Canadian dollar is down two-tenths of a cent at 94.43 cents (U.S.).