Economic Events and Company Reports – Thursday, July 31, 2025: US Inflation, Central Bank Rates, Financial Results from Apple and Amazon

The last trading day of July is set to be eventful: investors from the CIS are closely monitoring significant economic events and a series of corporate reports. On Thursday, July 31, markets will assess the decisions from several central banks and the latest inflation data from the US, while also preparing for the financial results of major companies. As it is the last day of the month, increased volatility is possible due to window dressing—fund managers may embellish their portfolios, leading to unexpected market movements.

Macroeconomic Events: Rates, Inflation, and PMI

Central Bank Decisions

Brazil (00:30 MSK): The Central Bank of Brazil will announce its interest rate decision on the night of Thursday. A hold on the key interest rate at 15%, a record high for the last two decades, is expected. Inflation in Brazil has dropped to around 5%, remaining above the target of 3%, which suggests the regulator will maintain a pause in its easing cycle. Any unexpected movement in rates by the Brazilian central bank could impact investor appetite for riskier assets in emerging markets.
Japan (06:00 MSK): The Bank of Japan concludes a two-day meeting. The interest rate is likely to remain unchanged (around 0.5% per annum). Although Japan's inflation exceeds the 2% target (the core CPI index has been above target due to rising food and commodity prices in recent months), uncertainty in the global economy and trade disputes (including new tariffs from the US) compel the BOJ to maintain an ultra-loose policy. Investors will analyze the accompanying statement for signals of potential adjustments to yield curve control or hints of tightening in the future.
South Africa (16:00 MSK): The South African Reserve Bank (SARB) is widely expected to announce a rate cut of 0.25%, bringing the rate down to 7.0%. South African inflation has fallen to the middle of the target range of 3-6% (around 3% year-on-year in June), giving the regulator room for a policy easing to support a stagnating economy. A lower rate should alleviate debt burdens and stimulate domestic demand, but investors will also consider external factors—such as yesterday's US Fed decision (if the Fed rate remained unchanged, SARB may act more cautiously to avoid pressure on the rand).

Statistics: PMI, Inflation, and Labor Market

China – PMI Indices (04:30 MSK): Early in the morning, China's official purchasing managers' indices for July will be released. A slight improvement in manufacturing PMI is expected, but the figure will likely remain around the 50-point threshold (it was 49.7 in June). Data below 50 signals a contraction in activity, so investors are looking for signs of stabilization in the largest economy in Asia. Continued easing measures from Beijing and a recovery in domestic demand could push PMI higher. Any surprises in China's PMI (such as a move into the growth zone) will affect commodity markets and currencies of emerging countries.
Eurozone – Unemployment Rate (12:00 MSK): The unemployment rate for the Eurozone in June will be announced. Forecasts converge around the mark of ~6.3%, which is close to multi-year lows (it was 6.3% in May). The European labor market remains resilient even amid economic slowdown, supporting consumption. If unemployment unexpectedly falls, it will bolster expectations regarding the Eurozone's economic resilience, although it may also intensify hawkish sentiments within the ECB. Conversely, any minor uptick in unemployment would signal the influence of tighter monetary policy on economic activity.
US – PCE Inflation (15:30 MSK): The key US inflation indicator—the Personal Consumption Expenditures (PCE) Price Index for June—will be in focus. Further slowing of inflation is anticipated: the core PCE index is likely to have grown by ~3.5-3.7% year-on-year (compared to 4% previously), indicating a gradual approach to the Fed's 2% target. Low inflation figures could confirm the Fed's pause in interest rate hikes, but investors will analyze the index's structure—particularly the dynamics of prices for services and core goods. Any surprise, such as a higher-than-expected PCE figure, could trigger fluctuations in equity and bond markets, altering expectations for future rates.
US – Initial Jobless Claims (15:30 MSK): Weekly data on jobless claims will provide fresh insights into the US labor market. Approximately 230,000-240,000 new claims are expected, reflecting a consistently low level of layoffs. A significant increase in claims could signal the onset of a cooling in the overheated labor market—a factor that could alleviate inflationary pressures. However, consistently low claims reaffirm that employment remains strong, supporting consumer spending. For investors, this data is vital as a leading indicator ahead of the US employment report next week.
US – Chicago PMI (16:45 MSK): The Chicago Business Activity Index for July is expected to be around 44-45 points, slightly above the previous month yet still below the 50 mark. The regional manufacturing index may provide insights into general trends ahead of the national PMI ISM release. If Chicago PMI surprises with growth exceeding expectations, this will indicate some recovery in the US manufacturing sector at the start of the third quarter. However, values below 50 continue to indicate a contraction in activity—a scenario already priced in by the market, suggesting a muted response to expectations.
US – Natural Gas Stocks (17:30 MSK): The weekly EIA report on gas stocks will show the volume of gas injected into storage. Analysts anticipate an increase of approximately +20 billion cubic meters, close to seasonal norms. Due to a hot summer and high demand for air conditioning, the rate of stock replenishment is slowing. For commodity market investors, it’s crucial whether stocks will be sufficient for the fall/winter period. The report also affects gas prices: slower growth in stocks could support Henry Hub prices, while a faster than usual injection could alleviate price pressure. Overall, gas data have a pinpoint effect, primarily impacting the energy sector and the currencies of LNG exporters.

Geopolitics: UN Security Council Meeting on Ukraine

On Thursday, the UN Security Council will hold a meeting in New York dedicated to the conflict in Ukraine. Geopolitical tensions remain a risk factor for markets: escalating hostilities, new sanctions initiatives, or statements from UNSC members can influence commodity prices (oil, grains) and investor sentiment. Particular attention will be paid to discussions about the humanitarian situation and implications of recent events, such as the cessation of the "grain deal." For the market, any signs of escalation or, conversely, diplomatic shifts are significant: a rise in conflict could lead to increased resource prices and a flight to safe assets, while indications of resolution would support risk appetite. For CIS investors, given the region's proximity, it is especially important to track the outcomes of this meeting.

Corporate Earnings: Reports from S&P 500 Companies and Tech Giants

Earnings Before the Market Opens (Pre-Market)

CVS Health (Healthcare): The large American pharmacy and insurance company will report before the session opens. Analysts expect earnings of $1.46 per share with revenues around $94.6 billion (+3-4% year-on-year). Revenue growth is driven by the expansion of the healthcare services and insurance segment (via Aetna), but profits are projected to decrease year-on-year by ~10-20%, primarily due to increased medical expenses and costs associated with recent acquisitions. Last quarter, CVS reduced its earnings forecast, so investors will focus on new guidance from management. A key driver of the report will be the effectiveness of cost-cutting measures (including closing some stores and layoffs) and trends in the prescription drug segment. Any positive surprises related to earnings or an upward revision of guidance could push shares higher after a prolonged decline since the beginning of the year.
Roblox (Gaming/Metaverse): The online gaming and metaverse platform will present its results for the second quarter. Expectations are ambitious: revenue of about $1.25 billion, approximately 30% higher than last year, driven by stable growth in user numbers and their spending within games. However, the company remains unprofitable—consensus anticipates a net loss of $0.35-0.40 per share, although this would be an improvement compared to the prior year. Investors will look for signs of a reduction in cash losses and growth in bookings (prepayments made with Robux currency)—the last quarter saw Roblox surprisingly report strong booking growth. Key factors include monetization of the user base and spending on platform development. If Roblox shows accelerated audience growth, particularly outside the US, and provides a positive outlook, this will bolster confidence in its long-term growth model.
Carpenter Technology (Industry/Metals): The manufacturer of specialty alloys and industrial metal parts (a supplier to the aviation and defense sectors) will announce financial results closing the financial year. Projections are steady: earnings of ~$2.00-2.05 per share, approximately 12% above year-on-year, with revenues around $770 million (3-4% lower than the previous year). A revenue decline is linked to weakening demand in certain segments (e.g., energy), but margin growth supports profit—the company has successfully passed on increased costs to customers while improving its product mix towards high-margin aerospace alloys. Carpenter recently raised its full-year forecast, so investors will focus on confirming strong order dynamics: orders from the aerospace sector and the pace of supply chain recovery. If the report shows accelerating operational profit growth or new major orders, shares could continue their upward trend (CRS stocks have already gained around 20% in the last month on expectations of strengthening demand).
Cameco (Energy/Uranium): One of the world's largest uranium producers will present a report expected to show a sharp rise in profits due to rising nuclear fuel prices. Consensus for earnings is approximately $0.35-0.40 per share (compared to just $0.10 a year ago), reflecting an increase in volumes supplied under long-term contracts and the rising price of uranium amid resurgent interest in nuclear energy. Cameco's revenue is also expected to rise significantly compared to last year (in Q2 2024, it was ~$433 million), likely surpassing $800 million. Investors will be attentive to management's comments on new contracts with nuclear power plants and the prospects for restarting some of the company’s facilities. Any mentions of further expansion plans or dividends could serve as a positive catalyst. It's also essential to assess the impact of uranium price volatility and currency fluctuations on financial results (Cameco is based in Canada, reporting in CAD).
Norwegian Cruise Line (Tourism/Cruises): The world’s third-largest cruise company continues to benefit from the tourism boom. Strong financial results are expected: revenues of about $2.55-2.60 billion (+8% year-on-year), driven by high demand for cruises and increasing cabin prices, while profits are projected at ~$0.50 per share (compared to $0.38 a year ago). The carrier has returned to sustainable profitability after a challenging pandemic period, and shareholders will be primarily interested in ship occupancy rates and booking trends for future seasons. The company may report record high occupancy rates (close to 100%) and increases in average passenger spending onboard, which serve as key profit drivers. Meanwhile, expenses—particularly rising fuel prices and crew salaries—are under control. A positive forecast from management for the second half of the year (for instance, regarding the continued trend of full demand recovery) will signal to investors about further attractiveness in the leisure and tourism sector.
AbbVie (Pharmaceuticals): The pharmaceutical giant, one of the leaders in the S&P 500, will report quarterly results before trading begins. Analysts have moderately positive expectations: adjusted earnings of $2.90-2.95 per share (+~10% year-on-year) and revenues around $15.0 billion (+~4% year-on-year). Growth is driven by new drugs in AbbVie’s portfolio—immunology drugs (Skyrizi, Rinvoq) and aesthetic medicine products from the Botox line—that compensate for the ongoing decline in sales of the flagship drug, Humira (whose patent protection in the US has expired). Last quarter, the company lowered its annual forecast due to one-time expenses on R&D, so investors will be looking for updates on guidance now. Key aspects of the report include the rate of decline in Humira revenues in Europe and the US, the success of new medicines (market share gains), and plans to reduce debt load. If AbbVie confirms the slowdown in Humira revenue decline and improves its annual forecast, it will strengthen confidence that the company is successfully navigating the “patent cliff” and remains on a growth trajectory.
Melco Resorts & Entertainment (Casinos/Macau): The casino and hotel operator in Macau (owns the City of Dreams resort and others) will provide results reflecting the recovery of the gaming business in Asia. Analysts expect positive figures for the first time in a while: revenues of around $1.25 billion, nearly double last year’s level, driven by a mass return of tourists to Macau following the lifting of COVID-19 restrictions. Melco’s profit may turn positive: consensus for EPS is around $0.05-0.10 (versus losses last year). Investors will assess how quickly revenues from the VIP segment and the mass gaming segment are growing, as well as hotel occupancy rates. Focus will also be on comments about the recovery of visitor flow from mainland China and Melco's competitive position amid the revival of the entire Macau casino market (where industry revenue has already approached ~70% of pre-crisis levels). If Melco reports EBITDA margins comparable to pre-pandemic levels and positive free cash flow, this will be a strong argument in favor of further growth of the operator's shares.
Mastercard (Finance/Payments): One of the two largest global payment systems will report strong results for Q2, reflecting continued growth trends in cashless payments. Consensus forecasts suggest a revenue boost of ~14% year-on-year, reaching ~$8 billion, and an increase in adjusted earnings per share by about 12%, up to $4.00 (compared to $3.58 a year ago). Key drivers include high transaction volumes on Mastercard cards due to active consumer spending and travel: cross-border transactions and associated income from fees have been growing steadily at double-digit rates. Investors will compare Mastercard's results with recent data from Visa: their competitor is also seeing business growth, but Mastercard may exceed expectations due to market share in Europe and the commercial payments segment. Attention will be on comments regarding consumer spending trends across different regions and the development of new directions (digital wallets, real-time payments). If the company raises its forecast for 2025 or announces a new share buyback, this will provide an additional boost to MA shares, which are already trading near historical highs.
Bristol-Myers Squibb (Biopharmaceuticals): Another pharmaceutical giant from the S&P 500 will present results likely showing declining profits due to patent losses. Forecasts are moderately negative: expected earnings per share of around $1.15-1.20, significantly lower than $1.93 a year ago (the previous quarter was supported by one-time income), with revenues projected around ~$11.3 billion, indicating a decline of ~3-5% year-on-year. The reason is the decrease in sales of the key oncology drug Revlimid (which faces generic competition) and certain other products. However, the company partially offsets these losses with the growth of new drugs, such as the cardiovascular drug Camzyos and the immunology product Opdualag. In the first quarter, BMS raised its annual revenue forecast, and investors will track whether this trend continues: they await comments on the demand for new drugs and possible progress in clinical trials. An important signal will be the dynamics of debt load and plans for returning capital to shareholders—as BMS is known for generous dividends. If management can convince the market that the company is navigating the downturn in sales of core products and will return to a growth trajectory by 2026 (thanks to new launches), this will support shares that are currently under pressure.
Cigna Group (Healthcare/Insurance): One of the largest health insurers and medical service providers in the US (owns Express Scripts) will report stable results. Consensus forecasts expect earnings of around $7.1-7.2 per share (+6% year-on-year) and revenues of ~$62.5-63 billion (+3-4% year-on-year). Growth is driven by an increase in the number of insured individuals and rising revenues from the PBM pharmacy service, but is partially offset by higher medical care expenses (patients are seeking planned care more frequently post-pandemic). In Q2, competitors (UnitedHealth) saw a surge in costs due to an increase in operations among elderly patients—investors will check whether this trend affects Cigna. Key metrics include the medical cost ratio and premium growth in the Medicare/Medicaid segment. If Cigna surpasses profit expectations and raises its annual forecast, this will confirm that the healthcare insurance sector is navigating a period of rising payouts well. CI shares have been lagging behind the market lately, so positive surprises in the report could generate increased buyer interest.

Earnings After Market Close (Post-Market)

Apple (Big Tech, Electronics): The world’s most valuable public company will report following the market close, and this is the day’s main highlight. Apple will present results for its financial third quarter of 2025 (April–June), from which a return to growth is expected. Consensus expects revenues around $89 billion, approximately 4% above last year—significant improvement following several quarters of decline. Growth is likely driven by services and accessories: revenue from the services segment (App Store, subscriptions) continues to hit records, and sales of wearable devices and accessories are rising. iPhone sales are also estimated to have increased slightly due to stable demand in China and promotional activities. Apple’s earnings are expected to be in the range of ~$1.40-1.45 per share (compared to $1.26 last year). Margin improvement could result from cost stabilization and premium pricing for Pro models of iPhones. Investors will closely listen for guidance on the upcoming quarter—the traditionally strong period for new iPhone launches (iPhone 15 is expected this fall). Also important are Tim Cook’s comments regarding the impact of new US tariffs on Chinese imports and potential risks for the supply chain. Apple’s report will set the tone for the entire Big Tech sector: if results or forecasts exceed expectations (for example, strong service segment sales or high demand for Mac/iPad), this could support the Nasdaq index and investor sentiment worldwide.
Amazon (Big Tech, E-Commerce and Cloud): The technology giant and retailer will present its quarterly results, which are expected to be robust. The company itself has forecasted revenue growth of 7-11% year-on-year, and analysts expect around $161-163 billion (approximately +9-10% compared to last year). The primary contributor to sales growth is the North American retail segment, where Amazon is experiencing stable demand amid improved consumer confidence and the success of its advertising business. Additionally, continuing recovery in the AWS cloud services division is a positive note: although growth rates in the cloud are not what they used to be (around 10% year-on-year expected), corporate clients are resuming projects, and Amazon is integrating AI-based solutions to stimulate demand for cloud capabilities. Expected profit for Amazon is around $1.30-1.35 per share (compared to $1.27 last year). The company has significantly optimized costs: after last year's staff reduction initiative and improved logistics efficiency, the retail operating margin has improved. Investors will seek signs of AWS growth acceleration in the report (the crucial factor for assessing Amazon as part of Big Tech) and the dynamics of Prime subscriptions. Also relevant is the assessment of the impact of the new tariffs introduced from August 1: as a major importer of goods from Asia, Amazon may face rising costs. If management expresses confidence that it can pass on these costs to consumers or offset them through scale, this will reassure the market. Generally, a strong report from Amazon with a good sales outlook for the third quarter (considering the results of the recent Prime Day in July) could push shares even higher and support growth across the entire tech sector.
MicroStrategy (Analytics Software / Bitcoin): The company known as a corporate Bitcoin holder will release its report, expected to be close to break-even. Consensus forecast: a slight loss of around -$0.03 per share (compared to significant losses last year) with revenues of ~$112-113 million (+1% year-on-year). MicroStrategy's primary business—business analytics software—shows stable sales with slight growth; however, market attention is focused on the company's balance sheet, where it holds over 150,000 BTC. With Bitcoin prices rising in the second quarter (Bitcoin traded around $30,000, significantly above last year’s levels), MicroStrategy may reflect significant paper profits or at least avoid earlier write-downs. An important aspect of the report will be updated data on its crypto asset strategy: it is possible that the company has increased its Bitcoin reserves or refinanced loans against them. Investors will also assess the profitability of the core business, excluding cryptocurrency—software licensing and cloud subscription metrics. If MicroStrategy reports an expansion of its client base in the software segment while simultaneously benefiting from the revaluation of Bitcoin assets, its shares (known for their volatility along with the crypto market) may react positively.
Coinbase (Crypto Exchange): The largest American cryptocurrency exchange will report a significant improvement in financial performance amid rising trading volumes. Revenue is expected to be around $1.5 billion (+4% year-on-year), maintaining profitability achieved earlier in the year: the consensus for earnings fluctuates between $1.0-1.2 per share. The second quarter was characterized by a market revival—total market capitalization increased, volatility returned, generating commission income for Coinbase. Additionally, the exchange earns substantial interest income on client funds due to high rates, further supporting profitability. Investors will particularly focus on trading volumes and Coinbase's market share: after legal issues with competitors (the US SEC is suing some platforms), Coinbase may have consolidated its position. However, regulatory risks remain: in June, the SEC also filed a lawsuit against Coinbase for operating an unregistered exchange. The management is likely to comment on the progress of this dispute and potential costs. A key driver for the shares will be the company's forecast: if Coinbase highlights further growth in trading activity in July and plans for product expansion (such as launching Bitcoin ETF trading pending regulatory approvals), this will inspire investors. Overall, the report will confirm whether Coinbase has effectively adapted to the "crypto winter" and leveraged the new market upswing.
Reddit (Social Network): The popular internet community platform, recently public (ticker RDDT), will report results as a public company. Revenue for the quarter is estimated at ~$420-430 million, growing about 10-15% year-on-year—growth is driven by the recovery of advertising budgets and the implementation of new monetization formats (such as the expansion of video post advertising). Reddit is expected to have a net profit of around $0.65-0.70 per share, while a year ago it recorded a loss—which indicates improved operational efficiency after staff reductions and server cost optimization. Investors will pay special attention to user base dynamics: as of March, Reddit had over 108 million daily active users, and if this figure has significantly increased over the quarter, the outlook for its advertising business looks even better. Also in focus will be management's comments on the impact of recent API policy changes (in June 2023, the community experienced protests over API monetization, but by 2025, the platform has adapted). If Reddit presents an optimistic outlook for the next quarter, such as expecting further revenue growth to $460-480 million (hinting at strong trends in digital advertising and the impact of AI tools for moderation/content), this will enhance investor confidence in the company’s post-IPO strategy.
Riot Platforms (Crypto Mining): One of the largest Bitcoin miners in the US will present a mixed picture: sharply rising revenues but persistent net losses. Riot’s revenue is expected to double compared to last year—up to $95-100 million for the quarter—due to significant increases in BTC mining capacity and higher cryptocurrency prices. However, profitability forecasts remain negative: consensus expects a corrected loss of around -$0.15…-0.20 per share (last year’s loss was even larger). The main intrigue is whether Riot has moved closer to break-even due to economies of scale and income from selling excess electricity (Riot is known to receive compensation by disconnecting from the grid during peak hours). Investors will evaluate the cost of mining a single Bitcoin for the company: a decrease in this metric would indicate enhanced efficiency. Additionally, comments on capital expenditure plans—whether Riot will continue expanding its mining fleet or focus on improving returns from existing assets—will be crucial. If management reports positive operational cash flow or proximity to it, this will constitute a significant argument for business stability even amid volatile BTC prices. RIOT shares are sensitive to Bitcoin prices, so any news (e.g., updates on mining regulations in Texas or government support) may also affect the report's perception.
Cloudflare (IT Infrastructure): The provider of cloud networking and cybersecurity services will report continued robust revenue growth, although investors will be more focused on progress towards profitability. The company has already announced expectations: it anticipates revenue of ~$500 million for the quarter (+25% year-on-year). Meanwhile, profit remains modest—expected adjusted EPS is around $0.15-0.18 (about $0.20 a year ago, indicating a slight decline due to high investment levels in development). Attention will be on Cloudflare's client base: whether it manages to attract large corporate clients to its content delivery (CDN), DDoS protection, and cloud application platform. A 25% growth rate indicates some deceleration (it was over 30% a year ago), which management attributes to macroeconomic caution from customers, especially among small businesses. However, the segment for large clients continues to grow rapidly. Investors will analyze the remaining performance obligations (RPO) and the customer retention ratio—these metrics will indicate whether Cloudflare retains long-term demand for its services. Comments on the competitive landscape are also expected: whether the company is facing pressure from hyperscalers (AWS, Azure) or is successfully occupying a unique niche. If Cloudflare improves its year-end outlook or if the report shows margin expansion (for example, through moderated growth in operating expenses), the market will perceive this as a signal that the business is moving towards higher profitability. NET shares have been volatile in recent months, but positive news on prospects (including mentions of AI service potential based on its network) may attract new buyers.
Enovix (High Tech/Batteries): The developer of innovative silicon batteries will present results reflecting the early commercializing stage of its technologies. Enovix has already preliminarily announced revenue of ~$7.5 million for Q2, doubling from last year's level and exceeding expectations (management itself raised the forecast from $5.5 million). However, the company remains unprofitable: the market expects a quarterly loss of around -$0.17…-0.19 per share (last year -$0.14), as Enovix invests significantly in ramping up mass production (building the Fab2 facility in Malaysia and cell assembly lines). Investors will closely examine operational metrics—the first pass yield, progress in establishing manufacturing processes, and most importantly, first commercial orders. Recently, Enovix reported successful testing of its batteries for wearable devices and agreements with several electronics manufacturers. If the report confirms new contracts or partnerships (such as with automakers or smartphone suppliers), this could significantly boost confidence in future revenues. It is also important whether the company has sufficient cash for its stated plans: management usually provides updates on liquidity reserves. Positive news regarding financing (grants, investors) or ahead-of-schedule factory construction may act as a growth catalyst for ENVX shares, appealing to investors focused on clean technologies and the future of batteries.
Roku (Streaming/Media): The provider of streaming video and advertising platform Roku will present a report that shows moderate improvement in metrics. Projected revenue is about $1.07 billion (+~11% year-on-year), which aligns with the upper boundary of the company’s own forecast. Growth is driven by increased revenues from the Roku advertising platform (+14% year-on-year expected)—more brands are placing ads on the home screen and the free Roku Channel video service. Device sales (Roku TV streaming boxes) remain more modest, around $125-130 million, as the electronics market cools, but this is not critical—platform revenue now constitutes over 90% of the business. The company’s losses are gradually narrowing: a net loss of about -$0.15…-0.20 per share is expected, significantly better than -$0.80 a year ago. Roku conducted rigorous cost optimization measures in 2024 (staff reductions, decreased marketing expenses), the effects of which are becoming evident. A key question for the report is audience engagement dynamics: if the number of active accounts on Roku platforms continues to grow steadily (in Q1, it was 71.6 million, with expectation of ~74 million by the end of June) and average watch time increases, advertisers will be even more active on the platform. Moreover, investors will assess the competition: Amazon, Google, and TV manufacturers continue to develop their ecosystems, making the retention of Roku's market share on smart TVs an important indicator. If management presents an optimistic forecast for Q3 (taking into account the seasonal increase in advertising budgets in the autumn) or announces new partnerships (such as exclusive channels or deals with media companies), ROKU shares may gain momentum for growth. However, any disappointment—such as cautious guidance or weak growth in new users—could raise concerns about Roku's long-term competitiveness.
Cable One (Telecom/Broadband): Closing out the evening's reporting sequence is Cable One—a regional American provider of cable Internet and TV (operating under the Sparklight brand). Its results are likely to remain subdued: revenue around $380 million, slightly below last year (a drop of ~4% year-on-year due to the ongoing loss of cable TV subscribers, declines in advertising revenues, and cancellation of government subsidies). At the same time, the broadband internet segment shows growth due to increased pricing and customers moving to higher speeds, compensating for some losses. Cable One's profit is estimated at about $8-9 per share for the quarter—significantly less than what the company earned a year ago (over $12 per share), as costs (including network maintenance and content for TV packages) are rising, while the customer base stagnates. Investors will focus on operational metrics: net dynamics of internet subscribers (which saw a slight growth last quarter), the churn rate in video services, and average revenue per user (ARPU). Cable One is actively repositioning as a “pure” broadband provider while gradually moving away from cable TV, and any progress in this direction—such as increased gigabit connections or success in joint mobile traffic projects—will be perceived positively. Management may also comment on consolidation prospects: there are rumors that regional operators may merge to compete with telecom giants. If Cable One hints at opportunities to divest non-core assets or improve its capital structure, this will support shares, which have significantly declined this year. Overall, the results from this small company will provide an indicator of the health of the telecom sector on the "last mile" in the US.

Conclusion: Key Points for Investors

Thus, Thursday, July 31, 2025, combines a rich macroeconomic agenda with a plethora of corporate reports. CIS investors should primarily monitor US inflation (the PCE index) and data on the labor market—as they will influence global risk appetite and the currencies of emerging markets. Equally important are central bank decisions: signals of policy easing in South Africa or unexpected remarks from the Bank of Japan could shift market sentiment in bonds and commodities. In geopolitics, the outcomes of the UNSC meeting on Ukraine may either intensify or alleviate risk premiums in asset prices within the region.

In the latter half of the day, attention will shift to corporate earnings. Special emphasis will be on Big Tech: the results of Apple and Amazon, key components of the S&P 500 that set the tone for the Nasdaq, will be released after Russian market closure but will dictate sentiment for Friday's trading. Investors should evaluate not just the figures themselves, but also the outlooks of these giants—as they will reflect demand conditions in the technology and e-commerce sectors. Additionally, the reports from such diverse firms as Roblox, Coinbase, and various pharmaceuticals and industrial companies will paint a broad picture of economic health: from consumer spending on entertainment to capital investments in industries.

As the month closes, the markets may experience unconventional movements—both due to window dressing and reactions to news flows. Investors are advised to stay vigilant: monitoring volatility in currency pairs (the ruble and tenge may indirectly respond to global trends), and oil and metal prices dynamics (under the influence of data from China and OPEC+ decisions, if any). By balancing macroeconomic and microeconomic factors, prudent investors will strive to avoid succumbing to short-term noise. The end of July will provide valuable information: based on it, strategies for August can be adjusted while focusing on the most promising sectors and considering macroeconomic risks. By carefully analyzing all signals of the day, CIS investors will be able to respond timely and effectively position their portfolios ahead of the new month.

Economic Events and Company Earnings – Thursday, July 31, 2025: U.S. Inflation, Central Bank Rates, Reports from Apple and Amazon