Economic calendar: German IFO, Tesla earnings

• European markets seen opening lower

• German IFO index for July

• Tesla to report earnings after Wall Street close

Futures markets point to a lower opening of the European session today. Moods during the Asian were mixed. Chinese indices underperformed significantly. However, this was due to country-specific factors and is unlikely to impact European trading. Economic calendar at the beginning of a new week is light. Investors will be offered German IFO reading for July during the European morning hours and US housing market data for June in the afternoon. However, neither of these readings tends to have a major impact on the markets.

Investors' favourite Tesla (TSLA.US) will report Q2 earnings today after the close of the US session.

9:00 am BST - Germany, IFO index for July. Expected: 102.3. Previous: 101.8

3:00 pm BST - US, new home sales for June. Expected: 800k. Previous: 769k

US earnings releases

• Hasbro (HAS.US) - before market open

• Lockheed Martin (LMT.US) - before market open

• Tesla (TSLA.US) - after market close