Economic Events and Corporate Reports January 5–9, 2026: Constellation Brands, Jefferies, Tilray, CPI and Nonfarm Payrolls

Weekly Overview January 5–9, 2026: Key Economic Events and Corporate Reports. Focus on Constellation Brands, Jefferies, Tilray, Inflation (CPI), PMI Indices, and the US Labor Market (Nonfarm Payrolls).

The upcoming first full week of the new year (January 5–9, 2026) promises a robust flow of macroeconomic publications and the onset of corporate reporting. The earnings season is just gaining momentum: large public companies from the US, Europe, and Asia will release their financial results, while investors worldwide will closely monitor key inflation indicators (CPI) and business activity (PMI). The week will culminate with the US labor market report (Nonfarm Payrolls), which could affect sentiment in global markets. These events may influence the dynamics of global equity indices – from the S&P 500 and Euro Stoxx 50 to Nikkei 225. The Russian market will start the year with a shortened week due to New Year celebrations, but the international investment community will focus on global indicators. Let's examine, day by day, what the markets can expect and what events investors should pay attention to.

Monday, January 5, 2026 – PMI in Asia, Inflation in Turkey, and the US ISM Manufacturing Index

At the beginning of the week, the external environment is relatively calm. Investors will evaluate the latest business activity indices from Asia and monitor the inflation situation in emerging markets. There will be minimal major corporate publications on this day, shifting focus to overarching macroeconomic trends. After the holiday weekend, the market also digests important news released over the weekend, including data on auto deliveries.

Before the market opens:

Tesla – the electric vehicle manufacturer reported quarterly deliveries for Q4 2025 (approximately 418,000 vehicles) over the weekend. Although the figure is lower than last year's level, it sets the tone for the EV sector and may impact automaker stocks on the first trading day of the year.

Economic Events (Moscow time):

03:30 – Japan: PMI index in manufacturing (December). A reading below 50 is expected, indicating continued contraction; any unexpectedly strong data could support the Nikkei 225 and strengthen the yen.
04:45 – China: Caixin Services PMI (December). The publication will reflect the condition of China's services sector at the year's end; a PMI increase above forecasts signals robust domestic demand and could improve sentiment in Asian markets.
10:00 – Turkey: Consumer Price Index (CPI) for December. Annual inflation in Turkey is expected to be around 30–32%, slightly below the November level. Slowing inflation may support the Turkish lira, while any unexpected acceleration will increase pressure on the Turkish Central Bank and the local market.
18:00 – USA: ISM Manufacturing Index (December). The forecast is around 47–48 points, indicating ongoing contraction in US manufacturing. A result below expectations could heighten concerns about an economic slowdown and temporarily weaken the S&P 500, whereas a stronger PMI will support the market.

Investor Takeaway: Monday will start without major shocks — there are few macroeconomic events, and trading may proceed at a moderate pace. The focus will be on the PMI data from Asia and inflation in Turkey: their results will show the economic sentiment at the start of the year. The absence of major corporate reports shifts the spotlight to general market indicators. Investors will also take into account the quarterly delivery news from Tesla, which sets the tone for the automotive and technology sectors on the first trading day of 2026.

Tuesday, January 6, 2026 – Global Services PMI Indices, Meeting on Ukraine, and Reports from Next and AAR

On Tuesday, the focus will be on services PMI indices from several key economies – from Asia to America. These indicators will allow for an assessment of how confidently the global services sector concluded the previous year. Furthermore, the political agenda will be shaped by a meeting of the international coalition in France regarding the situation in Ukraine. On the corporate front, the first reports from retailers and manufacturers will signal the state of affairs in their respective industries.

Before the market opens:

Next plc – a leading UK clothing retailer, will present a trading report for the Christmas season (Q4 Trading Statement). Strong holiday sales could boost retail stocks in Europe and indicate resilience in consumer demand in the UK, while a weak report may alarm investors about the sector.

After market close:

AAR Corp (AIR) – an American aviation services company, will release its report for Q2 FY 2026. AAR's results (aircraft maintenance and repair) will provide insight into the aviation industry's condition; revenue growth signals increased demand for air transportation and may support the airline sector.

Economic Events (Moscow time):

01:00 – Australia: Services PMI and Composite PMI (December). Indicators are expected to remain around a neutral level of 50; improvement above 50 will indicate a revival of the Australian economy at the end of the year, while a decline will heighten concerns about a slowdown.
08:00 – India: Services PMI and Composite PMI (December). The Indian services sector has been showing strong growth in recent months; another high PMI reading (significantly above 50) will confirm the resilience of one of the fastest-growing economies, supporting optimism in emerging markets.
11:55 – Germany: Services PMI (final data for December) and Composite PMI. Preliminary estimates showed around 47 points for services – in contraction territory. Confirmation of weakness in the services sector of Europe's largest economy may pressure the DAX, while an upward revision may support the euro and European stocks.
12:00 – Eurozone: Services PMI and Composite PMI (December, final estimate). The Eurozone concludes the year amid stagnation: PMI levels around 49 points. Investors await confirmation of this trend; any corrections may impact expectations for ECB policy and the Euro Stoxx 50 index movement.
12:30 – UK: Final Services PMI (December). The British economy is teetering on the brink of recession, and the services index around 50 points confirms this. Unremarkable data will keep the FTSE 100 stable, while an unexpected PMI increase will strengthen the pound and support the UK market.
16:00 – Brazil: Services PMI and Composite PMI (December). The condition of Latin America's largest economy at the end of the year will be assessed using these indices; stable or rising PMI will enhance confidence in the recovery of the Brazilian market, while a decline will increase concerns about the region's prospects.
16:00 – Germany: Preliminary Consumer Price Index (CPI) for December. The forecast suggests a slowdown in annual inflation in Germany to approximately 3%. A decline in inflation will bolster expectations of softer ECB policy and may positively affect the euro, while an unexpected increase in prices will intensify discussions on continuing the fight against inflation.
17:30 – Canada: Services PMI and Composite PMI (December). The publication will provide insights into business activity in Canada's services sector; combined with recent employment data, this will affect the Canadian dollar and market sentiment in Toronto.
17:45 – USA: Services and Composite PMI indices (S&P Global) (December, final). Preliminary data indicated a slight improvement in business activity (around 49–50 points). Confirmation of PMI growth to 50 or above will be a positive signal about the stabilization of the US economy, while weak indices may heighten recession fears.
00:30 – USA: American Petroleum Institute (API) oil inventory report for the week. The oil market will track these figures overnight into Wednesday: a significant reduction in inventories will support oil prices (and oil and gas company stocks), while an increase in inventories could create short-term pressure on oil quotations.

Investor Takeaway: On Tuesday, the main theme will be global services PMI indices – they will show the business sentiment entering 2026. The absence of major macro data in the first half of the day shifts focus to corporate and political events: a strong trading update from UK retailer Next will indicate consumer activity in Europe, while the "coalition of willing" meeting on Ukraine may impact geopolitical risks. In the evening, investors will analyze the first earnings reports from American companies (like AAR Corp) to assess the state of specific industries. Overall, the day promises moderate market movement, with PMI data and selective corporate news setting the tone.

Wednesday, January 7, 2026 – Eurozone Inflation, US Labor Market, and Corporate Report Fray

Wednesday will be the busiest day of the week, combining significant macroeconomic releases and a range of reports from major companies. European markets will receive fresh inflation data from the Eurozone, aiding in evaluating the ECB's direction, while the US will see a complete block of statistics on labor market and business activity. Investors will focus on corporate earnings from several sectors – from retail and food to finance and alcohol. Volatility could increase, considering the return of global traders post-holidays and the concentrated news flow.

Before the market opens:

Albertsons Companies (ACI) – one of the largest grocery chains in the USA, will report for Q3 FY 2025 (before the US trading begins). Investors will assess the sales dynamics of groceries amid inflation and the progress of the merger with Kroger; strong results may support retail stocks and the entire S&P 500 index.
Cal-Maine Foods (CALM) – the largest egg producer in the USA, will report for Q2 FY 2026. Cal-Maine's results will reflect the impact of egg prices and feed costs; revenue growth amid price stabilization will indicate a normalization of the agri-food sector following a volatile year.
Fast Retailing (9983.T) – a Japanese retail giant, owner of the Uniqlo brand, will report for Q1 FY 2026. The sales figures from Uniqlo in Japan and abroad will be indicators of consumer demand in Asia; a strong report will support the Nikkei 225 and sentiment in the global retail sector.

After market close:

Jefferies Financial Group (JEF) – an investment bank, will report for Q4 FY 2025 (as well as annual results). Jefferies' results will set the tone for the financial sector: increased revenue from investment banking and trading signals improving conditions on Wall Street, while weak figures may alarm investors regarding bank profits overall.
Constellation Brands (STZ) – a global alcohol producer (brands include Corona beer, Robert Mondavi wine, among others), will report for Q3 FY 2026. Investors are expecting revenue growth, particularly in the US beer segment; improving margins amid steady demand for premium alcohol can support the company's shares and signal strong consumer demand.
PriceSmart (PSMT) – operator of warehouse clubs in Latin America, will report for Q1 FY 2026. Year-on-year results will show if sales growth remains in the developing economies of the region; positive trends at PriceSmart may increase investor interest in Central and South American markets.

Economic Events (Moscow time):

Holiday: Kazakhstan's stock markets are closed (Orthodox Christmas); Moscow Exchange (Russia) is also closed this day, however, SPB Exchange is trading foreign securities.
03:30 – Japan: Services PMI and Composite PMI (December). Final data on business activity in Japan around 53–54 points will confirm steady growth in the sector; this is positive for the Nikkei 225. A decline in PMI will be perceived negatively, especially against the backdrop of policy changes by the Bank of Japan.
13:00 – Eurozone: Consumer Price Index (CPI) for December. Preliminary data indicates a slowdown in inflation in the Eurozone (around 2.5% y/y compared to 2.9% previously). Confirmation of this downward trend will ease pressure on the ECB regarding further rate hikes and may support European stock indices. However, any unexpected deviation in CPI from forecasts (upward or downward) will quickly impact the euro and the region’s markets.
16:15 – USA: ADP employment report for the private sector (December). An increase of about +150,000 jobs is expected. ADP data serves as a preliminary gauge ahead of the official Nonfarm Payrolls report; strong job growth will heighten expectations for a high NFP figure, which could lead to rising bond yields and pressure on tech stocks, while a weak report will support hopes for a more dovish Fed policy.
18:00 – USA: Multiple publications:
- Factory Orders for October. A slight decrease in orders (-1–2% m/m) is expected due to weakness in the durable goods sector; a sharper decline may negatively impact industrial sector stocks.
- Job Openings JOLTS for November. Forecast ~9.5 million job openings, slightly below the previous level. A reduction in job openings suggests cooling in the US labor market, which in turn lowers inflationary pressure.
- ISM Services Index for December. A reading around 52 points is expected, indicating moderate growth in services. This indicator is particularly important following weak ISM manufacturing data: if the services sector demonstrates resilience, it will calm markets regarding recession risks.
18:30 – USA: EIA weekly inventory report (natural gas). Analysts expect a negligible change in crude oil inventories. A sharp reduction in inventories will be a bullish signal for the oil market, while an unexpected rise in inventories may short-term weaken prices for oil and shares of oil and gas companies.

Investor Takeaway: Wednesday presents several benchmarks for global markets. In the morning, important signals will come from Eurozone inflation data: continued price deceleration could provide momentum for European stocks and strengthen the euro, while an unexpected inflation surge may unsettle participants. Throughout the day, a series of American indicators – from the ADP report to the ISM services index – will paint a comprehensive picture of the US economy ahead of the crucial employment report. In this context, corporate earnings reports will be particularly significant: Albertsons and Cal-Maine's results will highlight the state of the consumer market and food prices, while the evening reports from Jefferies and Constellation Brands will serve as a "barometer" for the financial and consumer sectors. Investors will need to correlate all these signals: a combination of moderate inflation in Europe, a stable US labor market, and positive corporate earnings could enhance risk appetite, while an unfavorable mix (e.g., rising prices amid weak reports) could increase volatility and caution.

Thursday, January 8, 2026 – European Data, US Trade Balance, and Reports from Tilray, AEHR, Aritzia

Thursday will continue to feature significant events, although their impact on the market may vary. Europe is releasing statistics on industrial orders and producer prices, aiding in understanding the economy's trajectory at the end of 2025. American statistics for the day include fresh labor market data (weekly claims) and trade, as well as indicators of inflation expectations – all contributing to the overall picture formed the prior day. The corporate agenda once again comes to the forefront closer to the evening: investors will focus on results from companies across various sectors, including the dynamic cannabis sector, high-tech equipment, and consumer fashion.

Before the market opens:

RPM International (RPM) – an American manufacturer of industrial coatings and construction materials, will report for Q2 FY 2026. RPM’s sales data of paints, sealants, and other materials will reflect the state of construction activity in the US and worldwide; improving profits will indicate steady demand in the construction sector, potentially supporting industrial company stocks.

After market close:

Tilray Brands (TLRY) – a Canadian-American cannabis producer, will report for Q2 FY 2026. Investors will focus on revenue from marijuana sales and hemp products in the North American market; positive surprises in the report could spark renewed interest in the cannabis sector, which saw a downturn in 2025.
Aehr Test Systems (AEHR) – an American high-tech company that manufactures semiconductor testing equipment, will report for Q2 FY 2026. AEHR exhibited sharp growth in orders last year due to demand from electronics and electric vehicle manufacturers. Strong financial results will affirm the trend and could lead to a rally in the semiconductor sector's stocks.
Aritzia Inc. (ATZ) – a Canadian fashion retailer, will report for Q3 FY 2026. Sales results of Aritzia's fashionable apparel in Canada and the USA will reflect consumer spending on discretionary items. Investors expect revenue growth, especially in online sales; a successful quarter will bolster confidence in the premium retail sector.
WD-40 Company (WDFC) – an American producer of the legendary lubricants, will report for Q1 FY 2026. Although the company is smaller, its products are globally known; an increase in WD-40 sales in global industrial markets will signal the health of the small industrial business and infrastructure projects.

Economic Events (Moscow time):

10:00 – Germany: Volume of industrial orders for November. The forecast implies a slight increase in orders (~+0.5% m/m) following a decline in the previous month. An improvement in this indicator reflects stabilization in Germany's industrial sector and may provide momentum for engineering stocks. On the other hand, an unexpected decline in orders could intensify pressure on the DAX index.
13:00 – Eurozone: Producer Price Index (PPI) for November. A decrease in industrial inflation is expected in the Eurozone due to lower energy resource costs. A decline in PPI year-on-year will confirm easing price pressure at the factory level and is likely to be positively received by the bond market. However, an excessive drop in producer prices could raise questions about demand and company margins.
13:00 – Eurozone: Consumer Confidence Index (December, final estimate) and Consumer Inflation Expectations indicator. These sentiment indicators will show how confident European households are in the economy and where they think inflation is heading. Improving consumer confidence and declining inflation expectations will support the view that the ECB is close to concluding its tightening cycle.
16:30 – USA: Initial jobless claims (week). This weekly indicator remains at historically low levels (~220–230K), reflecting a still strong labor market. Any significant deviation – an increase in claims above 250K or a drop below 200K – will immediately affect sentiment, adjusting expectations for Nonfarm Payrolls and Fed policy.
16:30 – USA: Trade balance for October. The US trade deficit is forecasted to be around $65 billion. A reduction in the deficit due to rising exports will support the idea of positive contributions from trade to GDP for Q4, while an expanded deficit emphasizes pressure from imports and a strong dollar. However, the influence of this data on the market is usually limited.
18:30 – USA: EIA weekly natural gas inventory report. This publication is essential for the energy sector, especially given the winter season. Continued declines in gas inventories (amid cold weather) may push gas prices upward, while unexpected inventory increases may cool the market.
19:00 – USA: New York Fed Consumer Inflation Expectations Index for December. This survey shows what level of inflation households expect a year from now. If consumer inflation expectations decline (for instance, closer to 3% from ~3.5% previously), the Fed will have arguments to pause rate hikes. Conversely, rising expectations will strengthen concerns about entrenched inflation.

Investor Takeaway: Thursday presents a mixed news backdrop, intertwining European statistics and American data with a series of niche but telling corporate reports. For European markets, the morning figures on industry and prices will serve as indicators: positive surprises could push the euro and stocks higher, while weakness may intensify discussions about recession risks in the EU. In the US, by the end of the day, investors will analyze new signals related to the labor market (claims) and consumer inflation expectations, which are crucial in the context of the upcoming Nonfarm Payrolls report and the next Fed meeting. At the micro level, the reports from Tilray and other companies after the market close deserve attention: Tilray or AEHR’s success may lead to local volatility spikes in their sectors (cannabis, semiconductors), and collectively the results from Thursday will help adjust positions ahead of significant data on Friday. Overall, investors should brace for possible market fluctuations given the mixed nature of incoming information.

Friday, January 9, 2026 – Chinese and Brazilian Inflation, US Nonfarm Payrolls, and Consumer Confidence

The final day of the week will bring the most anticipated macroeconomic release – the US labor market report for December, which traditionally sets the tone for financial markets. In addition to American payrolls, investors will receive inflation data from China and Brazil and assess the state of the industrial sector in Germany. Closer to the evening, the University of Michigan's consumer survey results will be released – this sentiment and inflation expectations indicator will be an important piece of the overall picture. There are few corporate reports this Friday, but attention in Asia will be drawn to the publication from a Japanese electronics manufacturer, whose results are often seen as a leading indicator for the tech sector.

Before the market opens:

Yaskawa Electric (6506.T) – a Japanese industrial robotics manufacturer, will report for Q3 FY 2025. Yaskawa traditionally is among the first in the industry to release quarterly results: growth in orders for robots and production automation signals a revival of investment activity in the industry both in Japan and globally. A strong report from Yaskawa could boost confidence in the tech sector and uplift Asian tech indices.

Economic Events (Moscow time):

04:30 – China: Consumer Price Index (CPI) for December. In China, inflation remains close to zero: around +0.5% y/y is expected (after 0.4% in November). Low inflation suggests weak domestic demand but provides more room for government stimulus measures. Any deviation in CPI from zero (e.g., unexpected price growth) may influence the People's Bank of China's policy and market sentiment in Shanghai.
10:00 – Germany: Industrial Production for November. A slight increase in output (~+0.2% m/m) is anticipated following a decrease the month before. Improvement in production in Germany at year-end will be a positive signal for the European economy and support the DAX, whereas a new decline in production will exacerbate concerns about industrial decline in the EU.
15:00 – Brazil: Consumer Price Index (CPI) for December. Inflation in Brazil remains moderate due to the central bank's strict policy: around 4.5–5% y/y is expected. Brazilian CPI data are essential for understanding trends in the largest Latin American market; further inflation slowdown may pave the way for interest rate cuts in Brazil, supporting local stocks and bonds.
16:30 – USA: Nonfarm Payrolls report for December and unemployment rate. The week’s climax: consensus expectation suggests the creation of ~180–200K new jobs, while unemployment remains at 3.7–3.8%. If Nonfarm Payrolls exceed expectations, markets may react with rising treasury yields and a stronger dollar, as a robust labor market boosts the likelihood of further Fed actions. A weaker report (especially combined with rising unemployment) could conversely spark discussions about the imminent end of policy tightening and may uplift stock indices.
16:30 – USA: Housing Starts for October. This indicator is released with a lag; data are expected to confirm some slowdown in residential construction during the fall due to high mortgage rates. Although the current release is lagging, it will provide a backdrop for assessing the housing market ahead of fresh data for November and December.
18:00 – USA: University of Michigan Consumer Sentiment Index (preliminary data for January) and associated consumer inflation expectations. An increase in the index to ~72 points (from 70.6 in December) is expected amid falling gasoline prices and a resilient labor market. Improved sentiment and reduced long-term inflation expectations (e.g., down to 2.9–3.0% from the current 3.2%) will serve as a favorable signal, indicating that consumers are looking forward with greater optimism. Conversely, if confidence unexpectedly falls, this may alarm markets regarding household spending at the year's beginning.
21:00 – USA: Baker Hughes report on active drilling rigs (oil and gas). The number of active rigs in the USA provides insights into trends in the shale industry; continued reductions in rigs may support energy prices over the long term, while an increase in rig counts signals a production ramp-up.

Investor Takeaway: On Friday, markets will receive an extensive block of data capable of significantly influencing sentiment. The principal event of the day will undoubtedly be the Nonfarm Payrolls report in the US – it will determine short-term expectations for Fed policy and set the tone for the trading session: a strong report may trigger heightened volatility and capital flows favoring the dollar, while signs of cooling labor markets will support stocks and other risk assets. At the same time, other indicators should not be overlooked: ultra-low inflation in China and moderate inflation in Brazil will further confirm the global trend of easing price pressure, while US consumer sentiment data will indicate if households are ready to spend in the new year. As the week concludes, investors will reassess the entire information received – from corporate reports from Constellation Brands, Jefferies, Tilray, and others to macro statistics – to adjust their strategies. Attention should be paid to how consistent the signals are: if most data points to the resilience of the global economy amid sinking inflation, it will create a favorable environment for continued market growth at the beginning of 2026. Conversely, if indicators are contradictory, caution and heightened volatility may persist in the coming weeks.