Economic calendar: US GDP and Big Tech earnings

• 4 Big Tech companies to report earnings today

• US GDP report for Q3 2020

• ECB to announce rate decision

European stock market futures trade flat ahead of the cash session open. However, one should keep in mind that a strong sell-off yesterday was launched shortly after the opening of the cash session therefore traders should keep on guard. There is a lot of agenda today with the US Q3 GDP report in the afternoon and reports from Big Tech after the Wall Street session closes (Amazon, Alphabet, Apple and Facebook). Last but not least, the ECB will announce a monetary policy decision today. While no change to the level of interest rates is expected, the Bank may start preparing markets for more stimulus amid deteriorating pandemic situation. 

8:55 am GMT - Germany, unemployment rate for October. Expected: 6.3%. Previous: 6.3%

12:30 pm GMT - US, GDP for Q3 2020 (annualized). Expected: 31%. Previous: -31.4% 

12:45 am GMT - ECB rate decision

1:00 pm GMT - Germany, CPI inflation for October. Expected: -0.3%  YoY. Previous: -0.2% YoY

2:00 pm GMT - US, pending home sales for September. Expected: 3.4% MoM. Previous: 8.8% MoM

Noteworthy US earnings releases

• Apple (AAPL.US) - after market close

• Activision Blizzard (ATVI.US) - after market close

• Amazon (AMZN.US) - after market close

• Alphabet (GOOGL.US) - after market close

• Facebook (FB.US) - after market close

• Starbucks (SBUX.US) - after market close

• Twitter (TWTR.US) - after market close