The Spanish benchmark index IBEX 35 opened Tuesday's session in negative territory as investors awaited the results reports of the major technology companies on Wall Street to be released this week and the publication of one of the Federal Reserve's preferred employment indicators.

The bulk of the "Magnificent Seven" group of mega-capitalized tech stocks that have driven Wall Street to record highs this year report financial results this week. Google parent Alphabet will release its numbers later in the day, while Meta Platforms and Microsoft's results are due on Wednesday, followed by Apple and Amazon on Thursday.

"The results decide the tone of each session this week and until the U.S. elections disorient everything from Tuesday," Bankinter analysts said on their Telegram channel.

"In all of them, the focus will be on the pace of AI demand and the monetization of capex invested," Renta 4 noted in its note to clients.

In the macroeconomic landscape, markets will be looking ahead to the JOLTS job openings report at 1400 GMT. Attention will also be on the September US personal consumption expenditures price index reading -- the Fed's preferred inflation measure -- due on Thursday, followed by Friday's nonfarm payrolls report.

Before the open, a survey assured that German consumer confidence will rebound in November, although high prices and bad labor market news are reducing those positives, according to GfK.

At 0813 GMT on Tuesday, Spain's selective IBEX 35 stock index was down 23.60 points, or 0.20%, to 11,880.40 points, while the FTSE Eurofirst 300 index of large European stocks was up 0.20%.

In the banking sector, Santander led the losses with 3.87% after reporting a 12% increase in its net profit for the third quarter and postponing the publication of the results of its British unit after the ruling of a London court last week.

BBVA gained 0.04%, Caixabank advanced 0.44%, Sabadell gained 0.61%, Bankinter gained 0.43%, and Unicaja Banco rose 0.09%.

Among the large non-financial stocks, Telefónica gained 0.16%, Inditex advanced 0.51%, Iberdrola gained 0.21%, Cellnex gained 0.74%, and the oil company Repsol rose 0.08%.

Mapfre gained 1.09% and Acerinox gave up 3.52% after reporting its quarterly results before the market opened on Tuesday.

(Information by Benjamín Mejías Valencia; edited by Mireia Merino)