Economic calendar: ADP and services ISM in focus

• European markets seen opening higher

• ADP report expected to show 45k increase in US employment

• Non-manufacturing ISM seen down to 56.8 in January

European stock market futures point to a higher opening of the European session with DAX futures trading near 13,900 pts at press time. Among key macro releases today investors can find ADP data for January, services ISM and DOE inventories data. ADP is expected to show a small 45k gain after 123k drop in the previous month. Apart from that, politics will be on watch today with US stimulus and new Italian leadership being key themes.

8:15 am GMT - Spain, services PMI for January. Expected: 45.3. Previous: 48.0

8:45 am GMT - Italy, services PMI for January. Expected: 39.5. Previous: 39.7

8:50 am GMT - France, services PMI for January (final). First release: 46.5

8:55 am GMT - Germany, services PMI for January (final). First release: 46.8

9:30 am GMT - UK, services PMI for January (final). First release: 38.8

1:15 pm GMT - US, ADP report on employment for January. Expected: 45k. Previous: -123k

2:45 pm GMT - US, services PMI for January (final). First release: 57.5

3:00 pm GMT - US, non-manufacturing ISM for January. Expected: 56.8. Previous: 57.7

3:30 pm GMT - DOE report on oil inventories.

• Oil inventories. Expected: 0.4 mb

• Gasoline inventories. Expected: 1.6 mb

• Distillate inventories. Expected: -0.4 mb

Central bankers' speeches:

• 9:00 am GMT - ECB Hakkarainen

• 6:00 pm GMT - Fed Bullard

• 7:00 pm GMT - Fed Harker

• 10:00 pm GMT - Fed Mester

• 10:00 pm GMT - Fed Evans

US earnings releases:

• Biogen (BIIB.US) - before market open

• Ebay (EBAY.US) - after market close

• Humana (HUM.US) - before market open

• Spotify (SPOT.US) - before market open

• Qualcomm (QCOM.US) - after market close