Like European markets, which falls today, the S&P 500 index is expected to also open down by 0.15% and this, in spite of encouraging figures released in U.S. reports early by 8:30am EDT.

Weekly unemployment claims came to only 297K against 321K expected, the monthly variation of the CPI index rose by 0.2% while the consensus forecasted 0.1% (this report excludes food and energy prices) and the Empire State Manufacturing Index posted at 19 versus anticipations of 5.5. The monthly fluctuation on industrial production dropped -0.6% for a consensus of 0.4%.

The Philly Fed index, due at 10:00am EDT foresee at 13.9 and the NAHB index concerning real estate should come at 49.

The U.S. index ended down 0.47% in 1888 points yesterday. In hourly data, a consolidation phase seems to be set. We maintain, therefore, a bearish overview with the 1878 points in line of sight. Under this level, investors could rely on a shift return to the 1867 points, or 1855 points by extension.