Thursday's session on Wall Street ended modest declines in the major indexes, which gave up from 0.3 to 0.4 per cent in response to weaker corporate earnings and weaker attitude of other markets even the response to the passivity of central banks in Japan and Europe.

The contract for the DAX is trading now below the base index closing and the beginning of European markets is expected to cons. A neutral scenario in the morning will quickly be shifted by reactions to the preliminary readings of PMI indices in Europe, which will dominate the first hour of trading.

In the following hours there is no plans for important macro reports, so attention will shift back on Wall Street, and the results of local companies, the most important of which is the report of General Electric, a company once recognized for the US economy in miniature, and today, well exposed to foreign markets and therefore, having insight into the condition of the global economy.

Despite all these elements Friday is not going to be particularly exciting.