Wall Street jumped during trading on Friday as investors finally began to recover from the slide at the beginning of the month. The NASDAQ was by far the best performer on the day (1.12 percent, 24.89 points). The S&P 500 (0.44 percent, 4.76 points) and Dow Jones (0.38 percent, 38.54 points) also built gains on the day, but to a slightly lesser extent.

Stocks were projected to jump at the opening bell, and each of the major indices has lived up to expectations in the first hours. The volume of trading could be a bit lower with no major economic reports due out today.

According to Reuters, tech and industrial shares jumped in overnight futures and global trading around the world. This is largely attributed to strong industrial data from the euro zone, which seems to indicate that the continental demise was a bit exaggerated.

In other news, despite the questionable economic indicators from the U.S., there is a growing belief that the global recovery is underway.

According to Reuters, James Bullard, President of the St. Louis Federal Reserve Bank, believes that the debt crisis in Europe and the stock decline in the U.S. will fall short of derailing a global surge. Bullard firmly believes that the U.S. will have to show more signs of strength before the Fed can rein in historically low interest rates, but he does not see that happening particularly soon. Despite our continued lethargy, the rest of the world is projected to drive some degree of recovery with or without U.S. help.

Rounding out the news, according to Reuters, the oil market continued its slight rally this morning with a 2 percent jump in prices per barrel. Whenever the stock market goes up oil follows along with it, and that was the case this morning. At the same time European and Asian demand rose as both continents continued to build on industrial sectors.

As a side note, executives at BP are certain to be elated by the news that oil markets are on the way up. The botched drilling, containment, and cleanup in the Gulf of Mexico and along America’s southern coast has turned the company into an international pariah. Its oil operations have threatened the health and livelihood of thousands, and are killing sea life with each passing moment.

Now, with the Obama administration set to address the nation about the spill on Tuesday, things are likely to get tougher for the embattled British giant.

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