Europe before the bell: no time for a breather
SPY•European stock index futures were flat to slightly higher before the open as investors awaited an ECB rate decision and a busy day of corporate earnings. Alphabet shares fell after hours as investors balked at its cash burn, while Microsoft shares rose on a jump in free cash flow.
1. ECB decision in focus
European stock index futures were flat to slightly higher ahead of the opening bell. A pause is expected from the ECB after its rate hike last time, following policy decisions this week by the Reserve Bank of New Zealand, Bank of Canada and Federal Reserve.
2. Earnings keep investors alert
Results from Alphabet and Microsoft sent their shares in different directions after hours: investors balked at Alphabet's cash burn and celebrated Microsoft's jump in free cash flow. European results due include Shell, Volkswagen, BBVA, Adidas, TotalEnergies, AB InBev, Societe Generale and ING.
3. Futures little changed
Euro STOXX 50 futures were little changed, while DAX, CAC and FTSE futures were up 0.2% to 0.4%.
