Many expect slight US stock market recovery today

There is some optimism that the US markets will open up when traders return to the floor after their July 4th long weekend.

With no major companies expected to post earning and no new data due from the US government, many traders will be taking their lead from oil prices.

As these have now started to slip back from the high of $145.85 per barrel they hit last week, some experts have suggested that the US markets will respond and open higher.

Reuters said that the most recent figures showed that US crude was trading at $142.67 a barrel.

Lou Brien, market strategist at DRW Trading in Chicago, told the news agency that this should boost stocks.

"The relationship between stock and oil is very strong right now," he said. "If we don''t benefit here from oil, stocks will be in a bit of trouble."

Talking to Bloomberg, David Hart, a senior equity analyst at London-based investment adviser Fat Prophets, said that it was hard to see the US markets slipping if oil prices did stay down.

"There are going to be corrections in the crude price which can benefit some sectors short-term," he said. "It''s fair to say we are slightly more optimistic as I don''t anticipate anything getting any worse."