Economic calendar: Second day of Powell's hearings

• European markets expected to open lower

• Second day of Powell's testimony

• NVIDIA earnings after market close

Equity sell-off continued during the Asian session and European futures point to a lower opening of today's session as well. Economic calendar today is quite empty. Second day of Powell's hearings and DOE report are releases of note. Among key earnings reports of the day investors can find NVIDIA, Booking and Lowe's.

3:00 pm GMT - Powell testifies in Congress. Second day of Powell's testimony. Text of the speech will be the same as yesterday so the only surprises may come from lawmakers' questions. However, Fed chair is likely to maintain the same tone as yesterday

3:00 pm GMT - US, new home sales for January. Expected: 855k. Previous: 842k

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

• Oil inventories. Expected: -5.4 mb

• Gasoline inventories. Expected: -3.4 mb

• Distillate inventories. Expected: -3.9 mb

Central bankers' speeches

• 3:30 pm GMT - Fed Brainard

• 6:00 pm GMT - Fed Clarida

• 9:00 pm GMT - Fed Clarida

Noteworthy US earnings

• Lowe's (LOW.US) - before market open

• L Brands (LB.US) - after market close

• NVIDIA (NVDA.US) - after market close

• Booking (BKNG.US) - after market close

• NetApp (NTAP.US) - after market close