Economic calendar: Earnings dominate Friday's calendar

• Markets rally on coronavirus drug report

• Final European CPI reading for March

• Procter & Gamble to report earnings ahead of opening bell

Moods on the global markets are improving with more and more countries outlining steps to reopen economies. Reports saying that a coronavirus drug developed by Gilead Science (GILD.US) is also doing its part. Simultaneously, markets are ignoring disastrous GDP data from China. DAX is expected to open around 300 pts above yesterday's close. There are no data releases scheduled for today that could turn to be major market movers so traders should focus on newsflow and earnings. Schlumberger, the US oil services company, will release a report ahead of the US session open and it may offer important insight into the situation in the oil sector.

10:00 am BST - Euro area, CPI inflation for March (final). Preliminary release: 0.7%

3:00 pm BST - US, leading index for March. Expected: -7%. Previous: 0.1%

6:00 pm BST - Baker Hughes US oil rig count. Last week: 504 

Central bankers' speeches

• 2:00 pm BST - Fed's Bullard

• 2:00 pm BST - ECB's Rehn

Noteworthy earnings releases

• Procter & Gamble (PG.US) - before market opens

• Schlumberger (SLB.US) - before market opens

• State Street Corporation (STT.US) - before market opens

• Citizens Financial Groups (CFG.US) - before market opens