U.S. equity markets are expected to open lower based on pre-market activity.  Yesterday, the September E-mini NASDAQ was the only stock index futures contract to post a gain.  This was triggered by strong earnings from Apple, Inc. and Texas Instrument the night before.  Apple is heavily weighted in the index and exerts a huge influence on its movement.

Yesterday's weakness was triggered by weaker than expected housing and producer inflation figures.  These two reports reminded investors that the economy is still sluggish. 

Today's pre-opening focus will be on Wells Fargo.  Investors will be watching for signs that loan losses are stabilizing and that the bank is starting to solidify its balance sheet.  Many investors fear that Wells Fargo will follow the likes of JP Morgan, Citigroup and Bank of America and report losses from consumer and business debt.  This is the main reason for lower markets at this time.