Global indicators were mixed for North American stock markets early Monday while oil prices dropped.

Wall Street futures suggested a mixed open as stocks in Europe recovered after a setback Friday resulting from weaker-than-expected U.S. employment numbers.

North American stock markets ended the week on a down note on Friday with indices racking up triple-digit losses after investors were blindsided with the first indication that the imploding U.S. housing sector and crisis on credit markets had filtered into the overall U.S. economy.

The U.S. Labour Department reported that payrolls fell by 4,000 in August, the first decline since August 2003, as job losses in construction, manufacturing, transportation and government swamped gains in education and health care, leisure and hospitality, and retailing.

Canada’s employment news was much better, as Statistics Canada reported that the Canadian economy created an additional 23,000 jobs, keeping the national unemployment rate at a 33-year-low of 6%.

The S&P/TSX composite index fell 144.48 points to 13,651.21 while the TSX Venture Exchange closed 7.39 points lower Friday at 2,697.07.

In the U.S., the Dow Jones industrials fell 249.97 points to 13,113.3. The Nasdaq composite index dropped 48.62 points to 2,565.7 and the S&P 500 index lost 25 points to close at 1,453.55.

Meanwhile, oil prices dropped Monday as traders took profits from the rise in crude futures last week on worries about global supplies.
Markets were also keeping a close ye on comments from OPEC ministers ahead of a meeting at which they are expected to keep output steady.

Light sweet crude for October delivery lost 48 cents to US$76.22 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe.

As for the Canadian dollar, it opened the week at 94.71 cents US, down 0.12 of a cent.