The pan-European Stoxx 600 index slipped 0.3% at the open, with basic resources shedding 1.4% to lead losses as most sectors and major bourses traded in the red.
The European blue chip index closed Monday's session up 0.1% as markets appeared to enter suspended animation after last week's global pullback, as investors took profits near the end of earnings season and risk sentiment returned to focus.
A Reuters poll of economists produced a consensus forecast for the July print of 3.3% year on year, up from 3% in June.
Roughly 85% of S&P 500 stocks have reported quarterly results, and nearly 80% of them have beaten Wall Street's expectations, according to FactSet.
Back in Europe, Deutsche Wohnen , Porsche , Bayer, ABRDN and Glencore all report Tuesday.
Organizations:
Federal, Deutsche Wohnen, Porsche, Bayer, ABRDN
Locations:
China, United States, Beijing, The U.S, Asia, Pacific, Europe