Economic calendar: PCE data for September, earnings from US oil majors

• European indices set for higher opening
• US PCE data for September in the spotlight
• Earnings reports from Chevron and Exxon Mobil

European index futures are trading higher ahead of the opening of the cash session on the Old Continent. Earnings from Amazon and Intel released after market close yesterday support sentiment and led to an overnight rebound in US index futures. Strikes against Iranian-backed groups in Syria carried out by the US army overnight did not lead to any major moves on the oil market.

Economic calendar for the European morning session is light with Spanish Q3 GDP data being the only noteworthy release scheduled. Things get a bit more interesting in the afternoon with the release of US PCE inflation data for September. University of Michigan data scheduled for 3:00 pm BST will be a revision and is not expected to trigger any bigger market moves.

8:00 am BST - Spain, GDP report for Q3 2023. Expected: 0.2% QoQ. Previous: 0.5% QoQ

1:30 pm BST - US, data pack for September

• PCE inflation. Expected: 3.4% YoY. Previous: 3.5% YoY
• Core PCE inflation. Expected: 3.7% YoY. Previous: 3.9% YoY
• Personal income. Expected: 0.4% MoM. Previous: 0.4% MoM
• Personal spending. Expected: 0.5% MoM. Previous: 0.4% MoM

3:00 pm BST - US, University of Michigan consumer sentiment for October (final). First release: 63.0

Central bankers' speeches

• 2:00 pm BST - Fed Barr

Top US earnings reports

• Exxon Mobil (XOM.US) - before market open
• Chevron (CVX.US) - before market open
• Phillips 66 (PSX.US) - before market open
• Colgate-Palmolive (CL.US) - before market open