Stocks are rallying

Flickr/christianhaugen

Near 11:40 am ET, the Dow was up 118 points, the S&P 500 was up 14 points, and the Nasdaq was up 26 points.

Dow futures shaved over 160 points Friday after the Bureau of Labor Statistics reported that US employers added 126,000 jobs in March, much lower than the forecast of 245,000.

West Texas Intermediate crude oil is over 2% higher, and climbed above $50 per barrel.

Gold is over 1% higher at around $1219.80 an ounce (a gain of $18,) continuing a rally from Friday morning after the jobs report. It's trading at a one-month high.

In economic data out Monday, the services PMI from Markit beat expectations yet again, at 59.2 versus expectations of 58.6.

And, ISM's non-manufacturing PMI was in-line with expectations, hitting 56.5 against expectations for 56.5.