1. Global market overview

Stock markets are looking pretty perky right now. U.S. stock futures are edging up.

European markets are all rising in early trading, with Deutsche Bank (DB) shares climbing 2% in Frankfurt after a bruising slump earlier this week.

Stocks rallied on Tuesday following the highly anticipated Trump-Clinton presidential debate on Monday night. The Dow Jones industrial average jumped 0.7%, the S&P 500 gained 0.6% and the Nasdaq added 0.9%.

Later this week: Thursday - Yellen speech, U.S. GDP announcement, PepsiCo (PEP) and Costco (COST) earnings. Friday - U.S. consumer spending

2. Draghi to defend the ECB policy

Not to be outdone by his American counterpart, European Central Bank (ECB) president Mario Draghi is set to face off against his biggest critics at the Bundestag.

German lawmakers have criticized the ECB, claiming its loose monetary policy has hurt savers and weakened banks.

The closed-door meeting begins at 13:30GMT but Draghi will give a press statement tentatively scheduled for 15:00GMT.

Draghi appeared to have prepared for the meeting with the Bundestag as he defended ECB monetary policy earlier on Wednesday in a speech delivered to the ECB Annual Research Conference.

Draghi also called on the need for other policy areas to take action as the euro area central bank is already operating near the “lower bound” of interest rates.

EUR/USD little changed by the remarks, slipping just 0.03% to 1.1213 at 10:01AM GMT.

3. IPO disappoints

It was the biggest market debut of the year, and it was a big disappointment.

Postal Savings Bank of China began trading in Hong Kong on Wednesday but the stock barely budged.

It priced each share at 4.76 Hong Kong dollars ($0.61) for investors. By the end of the day, the stock had edged up by just one cent to close at 4.77 Hong Kong dollars.

The bank has more branches and customers than any other bank in China - serving just over half a billion people, or more than a third of the population.

4. Oil news

Oil prices continue to be in the spotlight Wednesday as OPEC oil ministers wrap up talks in Algeria.

Hopes for an agreement to freeze production in an effort to boost prices faded on Tuesday. Saudi Arabia said a deal may be possible by November, but key details still need to be worked out. U.S. crude futures were up 0.4% after slumping Tuesday at about $45 a barrel.

Additionally, the U.S. Energy Information Administration is reporting weekly crude oil inventory data at 14:30 GMT, which could affect prices.