European markets edge a little higher this morning and quarterly earnings are due from Vodafone, Walmart and Home Depot.

European markets open slightly higher on Tuesday with a flood of economic data offering insights into the outlook for the region and global economy.

The DAX futures contract in Germany traded 0.2% higher at 02:00 ET (07:00 GMT), the CAC 40 futures in France rose 0.6%, and the FTSE 100 futures contract in the UK traded flat.

The major European indices ended Monday's trading session higher, maintaining the recent upbeat mood that was fuelled by expectations that the Federal Reserve will soon ease up on its ferocious monetary tightening drive as inflation began to show signs of slowing.

The inflation in Europe (data due today), is predicted to be less promising, indicating that the European Central Bank still has a way to go with its rate hikes if it wants to bring inflation back to target in the medium term.

In October, French consumer price inflation is predicted to increase by 1.0% from the previous month after declining by 0.6%, while Spanish CPI is predicted to increase by 0.4% from the previous month after declining by 0.7%.

The third-quarter unemployment and GDP figures for the Eurozone, as well as the closely anticipated German ZEW release, are all scheduled for today’s session.

Data released earlier on Tuesday revealed that China's industrial production expanded less than anticipated in October, while retail sales unexpectedly declined, signalling further deterioration in the second-largest economy in the world.

Additionally, the unemployment rate in the UK increased by 0.1 percentage points to 3.6% in September, while average monthly earnings increased by 5.7%, potentially worsening the nation's inflation problems.

Tuesday saw a slight decline in oil prices as fresh Covid problems in China clouded the picture for global demand.

Over the weekend, more incidents were reported in China as more cities continued to be under some kind of lockdown. Early on Tuesday, China's GDP figures disappointed, providing yet another indication that the country's second-largest economy is faltering as a result of the lengthy Covid controls.

Earnings:

• Walmart is set to report EPS of $1.32 on revenue of $147.55 billion.
• Home Depot is set to report earnings of $4.12 a share on revenue of $37.92 billion
• Vodafone PLC is set to report EPS of £0.05 on revenue of £22,311 million.

(Sources: investing.com, reuters.com)