Economic calendar: CB consumer confidence and reports from Dow members

• European markets expected to open flat

• CB consumer confidence seen more or less flat in January

• Microsoft and Johnson & Johnson among earnings reporters

In spite of mixed Wall Street sessions and declines in Asia, European stock markets are seen opening more or less flat today. Economic calendar for the European session is empty as the only noteworthy reading - UK labour market report - has already been released at 7:00 am GMT. It has shown unemployment rate increasing from 4.9 to 5% (exp. 5.1%) and average earnings increasing at the pace of 3.6% YoY (exp. 2.8% YoY).

When it comes to the US trading hours, investors will be offered CB consumer confidence index for January. However, it is expected that it will show just a minimal change compared to reading from December. Among today's earnings reports, investors can find a mega-cap Microsoft as well as 4 other Dow members (3M, Verizon, American Express, Johnson & Johnsn).

3:00 pm GMT - US, CB consumer confidence for January. Expected: 89. Previous: 88.6

3:00 pm GMT - US, Richmond Fed index for January. Expected: 20. Previous: 19

9:40 pm GMT - API report on oil inventories.

Noteworthy US earnings reports

• 3M (MMM.US) - before market open

• Advanced Micro Devices (AMD.US) - after market close

• American Express (AXP.US) - before market open

• General Electric (GE.US) - before market open

• Johnson & Johnson (JNJ.US) - before market open

• Verizon Communications (VZ.US) - before market open

• Microsoft (MSFT.US) - after market close