We've been hearing that Morgan Stanley's call was a reason for some investors to sell.

There's so much gloom out there it's hard to find any reason to buy right now.

Investors probably want to see what the U.S. job data will be like.

The market has taken a cue from the New York market and advanced. But a lack of fresh factors is already sapping (investors') appetite.

Investors are also buying shares in firms with attractive dividend yields ... such as steel makers and gas and electric power companies.

Worries that the system could break down are very much weighing on the market at the moment.