Here's what you need to know before the market open at 14:30 London time.
US futures are struggling ahead of the opening bell. The S&P is down by 0.08 per cent. The Nasdaq is 0.05 per cent lower, while the Dow is off by 0.07 per cent. The US 10-year bond yield is unchanged at 1.83 per cent.
The muted pre-market follows a mixed start to the day in across European markets.
In Asia Chinese markets finished the day up, while Japan's Nikkei slumped 2.3 per cent as the yen gained ground.
Attention on Austria...
Opec is now pumping oil at near-record levels of 32.7m barrels a day, though this hasn't stopped oil from hovering around the $50 mark as US production tails off and other regions run into production troubles.
Traders will be looking to see the bickering Opec members are able to agree a production cap. The last Opec meeting broke up in disarray in mid-April.
The urgency to agree a cap has lessened since the oil price climbed from lows of $27 per barrel earlier in the year.
The ECB has not made any changes to its monetary policy and stimulous plans as expected, but markets will be keen to see if the bank's president Mario Draghi sheds light on how he's feeling over European and global economic performance. The European economic area is still mired in deflation.
The policy decision has just been released and Draghi will host a press conference at 1:30pm London time.
Stocks to watch
After Softbank said it would sell at least $7.9bn worth of its Alibaba holdings, the Chinese e-commerce giant said it would buy back around $2bn worth. Softbank's stake has now dropped to 28 per cent from 32.2 per cent previously.
Fast food goliath McDonald's could be upping sticks to Chicago from its Oakbrook, Illinois home.
Saudi Arabia is jumping in an Uber. Saudi Arabia's Public Investment Fund, the main investment fund of the kingdom, has poured $3.5bn in the fast-growing private car hire firm as it looks to diversify its holdings away from oil.
Read more: Elon Musk says Apple car is an "open secret"
Star-gazing serial technology entrepreneur Elon Musk wants to put people on Mars in under 10 years time.
Speaking at Vox's media code conference, he said that his (as yet unlisted) SpaceX company's manned mission to mars would launch in 2024.
Not a lot again in terms of results. Joy Global has reported its earnings fell for the 13th consecutive quarter.
Broadcom will post its latest results after the close.
ADP Employment Change is out this morning, and we'll get the initial and continuing claims at 1:30pm. Natural gas inventories and crude oil inventories will go live at 3:30pm and 4pm London time respectively.