Positive morning results for SocGen has buoyed European stock markets today with Euro Indices up around 1% helping try to fight off the pull downwards generated by an unsure French election and Spain’s problems. While ‘The Scream’ has been sold for $120 million showing the world that there is some spare cash lying around (the most expensive work of art ever sold) those of us who aren’t multimillionaires are buying more humble luxuries as BMW has beaten estimates thanks to its 1 series proving popular.

Today’s Fed Balance sheet should product more news that the US is doing well, with Jobless claims falling regularly over the last year figures that show anything below 400K can be seen as a continuation of the downward trend with estimates signalling a range of 350-380 expected.