Stocks are poised to end a four-day decline with an oversold bounce from two-week lows on Monday. Better than expected ISM Services data and an upgrade for the big banks from Goldman Sachs helped fuel the rise. A drop in the dollar is fueling a widespread rally for commodities.

Asian markets remain relatively quiet with the Chinese Shanghai index still closed for holiday. The Japanese NIKKEI suffered a little hangover from Friday's session here in the U.S. The NIKKEI lost 0.59% as investors worried about a rising yen and its affects on exporters. The Hong Kong Hang Seng index rose 0.2%.

European markets snapped a four-day decline with a widespread bounce. In England the purchasing managers index came in positive and September's rise was the fastest pace in two years. Business sentiment is improving. The Confederation of British Industry said that more businesses were seeing a rise in volumes. The English FTSE index rose 0.7%. The German DAX rallied 0.75%. The French CAC-40 rose 0.69%.

The ISM Services index was the big report today. Economists were expecting a rise to 50.0. The Institute for Supply Management said their services gauge rose from 48.4 in August to 50.9 in September. Readings over 50.0 indicate expansion and growth. This is the first sign of growth since August 2008. The new orders component rose from 49.9 to 54.2 in September.

Goldman Sachs (GS) was making headlines again with an upgrade for the big financial firms. GS believes the big firms will out perform the smaller regional banks and slapped an "attractive" label on the group. GS also placed credit card firm Capital One Financial (COF) on their "conviction buy" list. The banking sector indices are seeing some of the biggest gains today with a +2.4% gain in the BKX and a +3.8% rally in the BIX index.

Outside of the financials the commodity-related stocks are doing well. Gold is up more than $12.00 to $1,016.90 an ounce. The GLD is up 1.4% and nearing resistance at the $100.00 mark. Crude oil is up although the gains there are relatively mild. The SLV silver ETF is up 3.2%. Copper prices are up more than 2%. I would be careful on copper. This could just another oversold bounce after its breakdown last month.

Overall the market is in a widespread recovery. I do not see any sector indices in negative territory. The S&P 500 index is up 1.1% at 1,036. The NASDAQ composite is up 0.8% at 2,064. One analyst on CNBC this afternoon said it was crucial for the NASDAQ to hold the Friday lows (2,040) or the long-term trendline of support from the 2009 lows would be broken. The Dow Industrials are up 0.8% at 9569. The small cap Russell 2000 index is up 1.2% at 587.

Let's take a quick look at charts for the major averages:

Chart of the S&P 500:

Chart of the NASDAQ:

Chart of the Dow Industrials:

Chart of the Russell 2000 index:

Scanning the OptionInvestor.com play list for movers we see that ATI is bouncing sharply with a 2.6% gain. CAT is up sharply with a 3% rally. Coal stock CNX is soaring almost 6% on the session. DRQ is up 2.5%.