US open: Investors waiting on House vote

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LONDON (ShareCast) - - US House voting on debt ceiling crisis
- IMF Chief Economist wary of rise in equity markets

Dow Jones Industrials: 0.50%
Nasdaq Composite: 0.30%
S&P 500: 0.00%

So far today the major US equity averages are repeating the pattern which has been predominating throughout the last handful of sessions, with weakness early on followed by an improvement in the rest of the session.

That ahead of this evening's vote in the US House of Republicans (now underway) on a proposed temporary increase in the federal debt ceiling.

Worth noting, some equity strategists have turned a tad wary on the stock market given that some of the traditional tactical indicators are flashing either warning signals or mixed ones. Some of these are the recent drop in volatility levels, currently reduced trading volumes or the sharp improvement in 'bullish' sentiment of late, amongst others.

Picking up on that theme, the International Monetary Fund's Chief Economist, Olivier Blanchard, this evening stated that "it is clear that financial markets are ahead of the real economy (...) the question is whether they are too much ahead or not, whether we are seeing a bubble (...) at this stage, it is difficult to say."

Helping stocks higher were the positive results out overnight from the likes of Google (NasdaqGS: GOOG - news) and IBM (NYSE: IBM - news) . The initial reaction to Mc.Donald's quarterly results has also been positive, with investors cheering the fast-food giant's better than expected US same-store sales figures.

Other companies moving higher following the release of better than expected results or guidance include St (BSE: STCORP.BO - news) .Jude's Medical, United Technologies (NYSE: UTX - news) and US Airways.

US house prices rose by 0.6% month-on-month in November (Xetra: A0Z24E - news) , according to the latest FHFA numbers.

Global investors say the state of US finances is the greatest risk to the world economy and almost half are curbing their investments in response to budget battles. 36% of respondents cited the nation's fiscal woes as the biggest threat, compared with 29% who chose Europe's sovereign debt crisis and 15% who named a slowing Chinese economy, according to the Jan. 17th survey of Bloomberg subscribers.

Apple (NasdaqGS: AAPL - news) is due to report after the close of trading.

Front month West Texas crude futures are now falling by 0.32% to the $96.36 per barrel level on the NYMEX.

10 year US Treasury yields are now down by 1 basis point to the 1.83% mark.

S&P 500 - Risers
Advanced Micro Devices Inc (NYSE: AMD - news) . (AMD) $2.70 +10.20%
Intuitive Surgical Inc (NasdaqGS: ISRG - news) . (ISRG) $566.09 +9.18%
Google Inc. (GOOG) $748.06 +6.43%
International Business Machines Corp. (IBM) $205.98 +5.05%
Safeway Inc (NYSE: SWY - news) . (SWY) $19.78 +4.99%
Netflix Inc (NasdaqGS: NFLX - news) . (NFLX) $102.44 +4.73%
CSX Corp (NYSE: CSX - news) . (CSX) $21.64 +3.99%
Textron Inc (NYSE: TXT - news) . (TXT (Taiwan OTC: 4969.TWO - news) ) $27.88 +2.95%
Red Hat Inc (NYSE: RHT - news) . (RHT) $54.15 +2.56%
Whirlpool Corp (NYSE: WHR - news) . (WHR) $106.53 +2.51%

S&P 500 - Fallers
Coach Inc (NYSE: COH - news) . (COH) $51.36 -15.36%
R.R. Donnelley & Sons Co. (RRD) $9.47 -5.49%
Quest Diagnostics (NYSE: DGX - news) (DGX) $58.51 -5.36%
Fossil Inc (NasdaqGS: FOSL - news) . (FOSL) $102.72 -3.05%
Seagate Technology Plc (STX (KSE: 011810.KS - news) ) $36.76 -2.97%
Laboratory Corporation of America Holdings (LH) $87.78 -2.79%
Molex Inc. (MOLX) $27.89 -2.72%
Ford Motor Co (NYSE: F - news) . (F) $13.82 -2.47%
Praxair Inc (NYSE: PX - news) . (PX) $111.21 -2.46%
Cliffs Natural Resources Inc (NYSE: CLF - news) . (CLF) $37.51 -2.34%

Dow Jones I.A - Risers
International Business Machines Corp. (IBM) $205.98 +5.05%
Walt Disney Co. (DIS) $53.63 +1.71%
Microsoft Corp. (MSFT) $27.49 +1.23%
Procter & Gamble Co (NYSE: PG - news) . (PG) $70.56 +0.87%
AT&T Inc. (T) $33.90 +0.86%
Bank of America Corp. (BAC) $11.42 +0.62%
United Technologies Corp. (UTX) $88.00 +0.61%
McDonald's Corp. (MCD) $93.40 +0.49%
3M Co. (MMM) $99.64 +0.32%
Boeing Co (NYSE: BA - news) . (BA) $74.39 +0.31%

Dow Jones I.A - Fallers
Hewlett-Packard Co. (HPQ) $16.99 -1.54%
Merck & Co. Inc (Xetra: A0YD8Q - news) . (MRK) $42.58 -1.44%
General Electric Co. (GE) $21.75 -1.18%
American Express Co. (AXP) $58.93 -0.79%
Caterpillar Inc (NYSE: CAT - news) . (CAT (Taiwan OTC: 4990.TWO - news) ) $96.95 -0.79%
E.I. du Pont de Nemours and Co. (DD) $47.49 -0.70%
Cisco Systems Inc (NasdaqGS: CSCO - news) . (CSCO) $20.73 -0.69%
JP Morgan Chase (Other OTC: JFTTL - news) & Co. (JPM) $46.22 -0.69%
Chevron Corp. (CVX) $115.26 -0.56%
Verizon Communications Inc. (VZ) $42.72 -0.51%

Nasdaq 100 - Risers
Intuitive Surgical Inc. (ISRG) $566.09 +9.18%
Google Inc. (GOOG) $748.06 +6.43%
Citrix Systems Inc (NasdaqGS: CTXS - news) . (CTXS) $69.06 +2.21%
CA Inc. (CA) $25.09 +2.20%
Symantec Corp. (SYMC) $21.28 +2.01%
Starz Class A (STRZA) $16.08 +2.00%
Facebook Inc (NasdaqGS: FB - news) . (FB) $31.20 +1.53%
O'Reilly Automotive Inc. (ORLY) $90.00 +1.47%
Apple Inc. (AAPL) $511.65 +1.36%
Microsoft Corp. (MSFT) $27.49 +1.23%

Nasdaq 100 - Fallers
Fossil Inc. (FOSL) $102.72 -3.05%
Seagate Technology Plc (STX) $36.76 -2.97%
Gilead Sciences Inc (NasdaqGS: GILD - news) . (GILD) $76.65 -1.61%
Monster Beverage Corp (MNST) $47.84 -1.44%
Starbucks Corp. (SBUX) $54.28 -1.29%
Texas Instruments Inc (NasdaqGS: TXN - news) (TXN) $33.06 -1.20%
Perrigo Company (NasdaqGS: PRGO - news) (PRGO) $102.98 -1.18%
Liberty Global Inc (NasdaqGS: LBTYA - news) . Series A (LBTYA) $67.24 -1.18%
Garmin Ltd (NasdaqGS: GRMN - news) . (GRMN) $38.44 -1.16%
Micron Technology Inc (NasdaqGS: MU - news) . (MU) $7.75 -1.15%

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