European markets are set for a mixed open ahead of the European Central Bank (ECB) rate decision. European futures are trending lower, while US equity futures indicate a higher open. The ECB is expected to cut rates by 25 basis points due to low inflation. In the US, key reports to watch include retail sales and weekly jobless claims. Sentiment in the US market holds an upward bias ahead of these reports. Treasury yields are up 2-3 basis points, and the dollar is steady to higher. The ECB rate change is scheduled for 8:15 AM ET, followed by the US retail sales and jobless claims data at 8:30 AM ET, and the ECB press conference at 8:45 AM ET.