Asian markets are lower for choice this morning as the Yen is slightly firmer after a week of heavy falls. Notably Goldman raised their forecast for Japanese equities for the fourth time this year on the country's "credible commitment" to beat deflation. Elsewhere, software maker Infosys in India fell 10% after weaker than expected sales guidance.

In Europe, equity futures are looking weaker ahead of Eurozone Industrial production and UK construction output.

In the US, markets continued to make fresh highs buoyed by better than expected jobless claims data, today we have retail sales but possibly more of interest will be earnings from both JP Morgan ($1.39) and Wells Fargo (89c). Elsewhere, an IMF draft report cuts the US growth outlook for 2013 to 1.7% from 2%.

Philip Ball | Sales and Trading