Economic calendar: ADP jobs data, OPEC+ meeting

• European indices set for flat or slightly lower opening

• OPEC+ may decide on a 2 million barrel output cut

• ADP report expected to show 200k jobs increase in September

European index futures are pointing to a slightly lower or flat opening of today's cash session for major indices from the Old Continent. European and US markets had another strong session yesterday but things look to have calmed a bit this morning. Oil is trading little changed ahead of OPEC+ decision on November's output levels while precious metals pull back slightly. Declines can also be spotted on the cryptocurrency markets but scale is not major.

Two key events of the day are release of ADP data for September (1:15 pm BST) and OPEC+ decision on output levels for September. ADP is expected to show an addition of 200k jobs. OPEC+, however, is expected to deliver a big output cut, with some saying that as much as 2 million barrel cut for November is on the cards. OPEC+ meeting begins at 1:00 pm BST and decision is likely to come in the early afternoon.

Apart from ADP and OPEC+, traders will also focus on the weekly DOE report on oil inventories, US services ISM for September as well as revisions of services PMIs for September.

8:15 am BST - Spain, services PMI for September. Expected: 49.8. Previous: 50.6

8:45 am BST - Italy, services PMI for September. Expected: 49.2. Previous: 50.5

8:50 am BST - France, services PMI for September (final). First release: 53.0. Previous: 51.2

8:55 am BST - Germany, services PMI for September (final). First release: 45.4

9:00 am BST - Euro area, services PMI for September (final). First release: 48.9

9:30 am BST - UK, services PMI for September (final). First release: 48.9

1:15 pm BST - US, ADP report on employment change for September. Expected: 200k. Previous: 132k

1:30 pm BST - US, trade balance for August. Expected: -$67.8 billion

1:30 pm BST - Canada, building permits for August. Expected: -0.6% MoM. Previous: -6.6% MoM

2:45 pm BST - US, services PMI for September (final). First release: 49.2

3:00 pm BST - US, ISM non-manufacturing index for September. Expected: 56.0. Previous: 56.9

3:30 pm BST - DOE report on US oil inventories.

• Oil inventories. Expected: +2.0 mb (API: -1.77 mb)

• Gasoline inventories. Expected: -1.2 mb (API: -3.47 mb)

• Distillate inventories. Expected: -1.8 mb (API: -4.05 mb)