Angus Campbell Start Quotations

It would seem that bulls are finally starting to come to terms with the grim reality that equities are not so attractive after all at the moment.

Apple's poor figures after the bell last night mean that the U.S. futures point to a negative start for U.S. equity indices this afternoon ... Apple is trading in Europe around 3.22 euros lower, indicating a decline of $4 when U.S. markets open later,

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.

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.