The major US equity averages are now being called to open lower by 0.3 per cent on average.

This was as investors wonder aloud whether the recent market run-up was justified or not. Significantly in that regard, in a speech before the opening bell Chicago, Fed President Charles Evans has indicated that he fully supports QE3, while adding that the central bank has other options at its disposal should it feel the need to act again.

No less important, according to Bank of America-Merrill Lynch´s latest fund manager survey, investors now see the looming US "fiscal cliff" as the biggest risk to overcome, and not the crisis in the Eurozone periphery.

Back on the company front, economic bell-wether FedEx has warned on its profits for the next quarter.

AMD may fall after its Chief Financial Officer announced his departure.

Also worth pointing out, JP Morgan has downgraded its view on shares of US Steel to underperform.

More data on tap



Long-term capital flows rose to $73.7bn in July, after the previous month´s reading of $15.1bn.

Weekly comparable retail sales fell 2.5% week-on-week according to the latest ICSC data.

The NAHB´s housing market index for the month of September is due out at 15:00.

The country´s current account deficit decreased to 117bn dollars in quarter two, versus 113bn dollars in the previous three months.



Treasuries rise



Front month West Texas crude futures are now falling 0.71%, to the 95.93 dollar mark in NYMEX trading.

10 year US Treasuries are gaining by 16/32 dollars, with yields at 1.79%.




AB

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