Economic calendar: A key day for the earnings season!

• European indices futures point to slightly lower session opening

• Quarterly results of companies in the spotlight for investor

• Unilever (ULVR.UK) and Dassault Systemes (DSY.FR) presented their results

• LVMH (MC.FR) is also on the calendar 

• On Wall Street, Alphabet (GOOGL.US), Microsoft (MSFT.US) and Visa (V.US) will present their results.

Tuesday's trading session on European markets focuses on companies publishing their results for Q2 2023. Interestingly, today's and tomorrow's sessions will be the most important in this regard, as these are the days when we will learn the most reports from companies with the largest combined market capitalisation. In Europe, we have already learned the results of Unilever (ULVR.UK) and Dassault Systemes (DSY.FR). This will be followed by LVMH (MC.FR) and EssilorLuxottica (EL.FR), among others. In the US, we will learn the results of Alphabet (GOOGL.US), Microsoft (MSFT.US), Moody's (MCO.US) and Visa (V.US)

Unilever's Q2 results: - Underlying sales +7.9% (estimate +6.62%) - Revenue €15.74bn (estimate €15.54bn) - Underlying prices +8.2% (estimate +7.84%) - Underlying volume -0.3% (estimate -0.11%)

Furthermore, Bayer (BAYN.DE) lowered its full-year earnings forecast and announced a €2.5bn asset write-down related to glyphostat. EBITDA is expected to be between €11.3bn and €11.8bn in 2023 (the company had previously forecast €13.5bn. Materialisation of this scenario could mean recording a net loss of €2 billion. 

In addition to the results themselves, investors will get to know several important macro readings. In Germany, it will primarily be the IFO institute reading and in the US, Consumer Board consumer confidence data.

Detailed calendar of the day:

09:00 am BST, Germany - Ifo index:

• Forecast: 88. Previously: 88,5

01:00 pm BST, Hungary - interest rate decision:

• Forecast: 13%. Previously: 13%.

03:30 pm BST, USA - CB consumer confidence:

• Forecast: 111.5. Previously: 109,7.

09:00 pm BST, USA - Change in oil inventories according to API:

• Forecast: -1 bbl. Previously: -0.8 bbl.