Economic calendar: Microsoft and Alphabet quarterly reports; JOLTS data

• Derivatives point to higher opening of European session
• Investors await results from Microsoft and Alphabet
• GDP data from the eurozone and JOLTS from the US

European futures point to a higher opening of the cash session in Europe. Markets in the APAC region traded in slightly weaker sentiment. Chinese indices were trading with sizable declines, which negated part of the rebound seen recently. The Hang Seng is currently losing 2.02%. Markets in Korea and Japan are posting slight gains. 

Last night's improvement in market sentiment was supported by the U.S. Treasury Department's announcement that it expects to take on $760 billion in net market debt in January-March, down $55 billion from its October 2023 estimate. The news triggered a drop in US 10-year yields during yesterday's session.

Highlights of the day include: regional inflation data in the Eurozone, a GDP report from the Eurozone, as well as JOLTS data. The calendar will be topped off with quarterly reports from UPS, Pfizer, Marathon Petroleum, Microsoft, Alphabet, Starbucks and AMD.

Macro highlights of the day:

08:00 am GMT - Spain, CPI inflation and GDP report.

09:00 am GMT - Germany and Italy, GDP report. 

10:00 am GMT - Eurozone, GDP report

10:30 am GMT - SNB’s Jordan speech

03:00 pm GMT - US, JOLTS labor market data and CB index

03:30 pm GMT - ECB's Nagel speech

09:40 pm GMT - US, API crude oil inventory change survey report

Companies' quarterly reports:

UPS (UPS.US) - before the opening of the session on Wall Street

Pfizer (PFE.US) - before the opening of the session on Wall Street

Microsoft (MSFT.US) - after the close of the session on Wall Street

Alphabet (GOOGL.US) - after the close of the session on Wall Street

AMD (AMD.US) - after the close of the session on Wall Street

Starbucks (SBUX.US) - after the close of the session on Wall Street