With gasoline prices declining here and across the pond during the month of October, any downside to this (PPI) figure will be hugely welcome for the market and equities could push higher,

Clients remain largely bearish of U.S. indices on the whole but a good start to the week by Asian and European stocks means the U.S. futures point to a positive start.

Despite the U.S. earnings commencing in earnest this week, the recent inability of indexes to sustain their highs has led many to believe that there is impending weakness. For new highs to be set U.S. companies will have to report superb results, far outstripping expectations and things did not get off to a great start last week.

As oil prices continue to trade higher, this (deficit) decline could be short lived and the U.S. trade woes may get worse.

Cisco has provided a little relief posting better than expected results after the close and we could see a bounce today.

It looks like the impetus to buy has dried up and certainly European bourses are feeling the pressure from yesterday's sell off in the U.S.,