The main US equity averages are being called to open lower despite what at first glance looks like a string of better than forecast corporate quarterly results.

Amongst the heavyweights whose earnings - at least at first glance - ought to please investors are Ford, Valero, Peabody and US Steel.

Poor guidance from the likes of International Paper and Lexmark, on the other hand, are weighing on stocks.

House prices rose by 5.5% year-on-year in November according to the latest Case Shiller 20 city pindex (Consensus: 5.6%).

Conference Board consumer confidence data is scheduled for release at 15:00.

Front month West Texas crude futures rising by 0.9% to the 96.83 dollar per barrel mark on NYMEX.

10 year US Treasuries are flat, with unchanged yields at 1.97%.

AB

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