Economic calendar: US GDP report in focus

- European equity futures point to a lower opening for the Euro Stoxx 50 benchmark

- Investors' attention will turn today towards the GDP reading from the US

- Also worth keeping an eye on is the CPI report from Spain, the GDP report from Switzerland and the DOE oil stocks report (following yesterday's API reading)

Early indications from the futures market are that Thursday's session on European markets will start lower. Thus, indices may extend the wave of declines, driven by rises in US debt securities yields. Investors' attention may turn to several interesting macroeconomic readings today. The most important of these are presented below.

The most important readings of today's session (BST time):

08:00 am - Spain, CPI report for May. Forecast: 3.7% y/y. Previously: 3.3% y/y.
08:00 am - Switzerland, GDP report for Q1. Forecast: 0.6% y/y. Previously: 0.6% y/y.
10:00 am - Eurozone, economic sentiment indicators for May.
01:30 pm  - US, GDP report for Q1. Forecast: 1.6%. Earlier: 3.4%. 
01:30 pm  - US, GDP deflator for Q1. Forecast: 3.1%. Previously: 1.7%.
01:30 pm  - USA, core PCE index (q/q). Forecast: 3.7%. Previously: 2.0%. 
01:30 pm  - USA, unemployment claims. Forecast: 218,000. Previously: 215 thousand.
03:30 pm  - USA, EIA report on natural gas inventories. Forecast: 77 bn. Previously: 78 bn.
04:00 pm  - USA, DOE report on crude oil inventories. Forecast: -1.6mn. Previously: +1.82mn. 
05:05 pm  - USA, Fed's Williams speech