Economic calendar: GDP data from Europe

• European and US futures plunge

• German GDP seen rising 7.3% QoQ in Q3 2020

• Exxon Mobil and Chevron among earnings reporters

In spite of the Big Tech earnings report being solid, the global market plunged overnight. Coronavirus remains a dominating theme on the markets with the United States reporting a record number of cases yesterday. US GDP report showed a record pace of growth yesterday and today attention will be focused on European releases.

8:00 am GMT - Spain, GDP report for Q3 2020. Expected: +13.5% QoQ. Previous: -17.8% QoQ

9:00 am GMT - Germany, GDP report for Q3 2020. Expected: +7.3% QoQ. Previous: -9.7% QoQ

10:00 am GMT - Euro area, GDP report for Q3 2020. Expected: +9.2% QoQ. Previous: -11.8% QoQ

12:30 pm GMT - US data pack for September

• Core PCE inflation. Expected: 1.7% YoY. Previous: 1.6% YoY

• Personal spending. Expected: 1% MoM. Previous: 1% MoM

• Personal income. Expected: 0.4% MoM. Previous: -2.7% MoM

1:45 pm GMT - US, Chicago PMI for October. Expected: 58.3. Previous: 62.4

2:00 pm GMT - US, University of Michigan consumer sentiment for October (final). First release: 81.2

Noteworthy US earnings

• Exxon Mobil (XOM.US) - before market open

• Chevron (CVX.US) - before market open

• Colgate-Palmolive (CL.US) - before market open