Japan's Nikkei was again the standout mover rising over 1%, as the deputy Prime Minister said that he sees no problem with the Yen at 100 and Abe should not be discouraged in his stumilus efforts, with that the Yen was firmer back above 89. Elsewhere, China released data showing that manufacturing accelerated at the fastest pace in 2 years with a PMI reading of 51.9. Stock market rises were somewhat tempered by threats from North Korea on nuclear missile testing.

In Europe equity futures are indicating around very marginally lower, ahead of a host of PMI manufacturing and services figures from across the Eurozone. Spain's Catalonia region has declared itself a sovereign entity paving the way for a referendum.

US markets rallied again to close towards highs of the session lifted by strong moves higher in both IBM and Google, however that optimism was somewhat offset by Apple releasing earnings after the close which missed consensus forecasts and lowering revenue guidance for the current quarter, the stock traded over 10% lower in after hours. Today look out for earnings from Black and Decker ($1.28), Lockheed Martin ($1.81), Raytheon ($1.31), Brostol Myers (43c), AT&T (45c), Microsoft (75c), Starbucks (57c) and 3M ($1.41), in terms of economic data we have jobless data and leading indicators.

Philip Ball | Sales and Trading