Key Economic Events and Corporate Reports for Wednesday, November 5, 2025. Focus: PMI Indices, U.S. Supreme Court Ruling, Qualcomm, Arm, Snap, Robinhood, Duolingo, and Other Major Companies' Earnings Reports. Analyzing Global Market Impact and Recommendations for Investors.
Today, November 5, 2025, investors are concentrating on key economic indicators and corporate earnings reports that could significantly influence market sentiment. At the forefront are the PMI data from various regions, a ruling from the U.S. Supreme Court regarding trade tariffs, and a slew of financial results from major corporations. As we enter a new trading day, it is crucial to understand the risks and opportunities these events pose for investors from CIS countries and the global market as a whole.
U.S.: Supreme Court, Labor Market, and Business Activity Index
- Supreme Court and Trade Tariffs: Today, the U.S. Supreme Court will hear cases regarding tariffs implemented by the Trump administration. A ruling on this matter could impact trade policy and companies in sectors affected by these tariffs. Investors are assessing the risks for industrial firms and exporters: repealing these tariffs could reduce prices for imported raw materials but create competition for domestic producers.
- Labor Market (ADP): At 15:15 MSK, the ADP employment report for the U.S. private sector in October will be released. Following a slowdown in hiring over the summer, market participants are awaiting signals indicating whether job growth has resumed. A moderate increase in employment will bolster confidence that the economy is "soft landing," whereas weak numbers will heighten recession fears. This report will shape expectations ahead of the official labor market data released on Friday.
- Business Activity Indicators (PMI): Throughout the day, final service sector PMI values for the U.S. for October will be published, including S&P Global PMI (at 16:45 MSK) and the more significant ISM Services PMI (at 17:00 MSK). Projections suggest the ISM index will remain above 50 points, signaling continued growth in the service sector. Exceeding expectations on the PMI could provide support for the U.S. market, while a decline in PMI could signify economic slowdown and become a risk for investor sentiment.
- Oil Market (EIA): At 18:30 MSK, the U.S. Department of Energy will release its weekly oil and petroleum product inventory data (EIA report). The energy sector reacts to inventory dynamics: a reduction in inventory generally supports oil prices, favorable for oil and gas companies (also pertinent to the Russian market), while an increase in inventory could exert downward pressure on prices. Investors are also observing how the inventory situation aligns with the broader context of OPEC+'s decision to maintain production levels and the sanctions affecting the oil market.
Europe: PMI in Germany and the UK, Industrial Orders, and Producer Prices
- Germany and Eurozone – Orders and Prices: Data on industrial orders in Germany will be released in the morning. Recent months have shown a decline in orders amid weak external demand, and markets are hopeful for a potential rebound in September. An improvement in this indicator would strengthen confidence in stabilizing Europe’s largest economy, while further declines would raise alarm bells. Additionally, Eurostat will publish the producer price index (PPI) for the Eurozone. A continuation of producer inflation deceleration is expected – a drop in PPI may indicate easing inflationary pressure, potentially granting the ECB more room for accommodating policies.
- Service PMI Indices: Final data on the October Services PMI from various European countries will be announced today. Notably, the HCOB PMI for the Eurozone and the final figures for the UK will be in focus. Preliminary estimates indicated stagnation or weak growth, with indices around 50 points. Confirmation of these values will show that the European service sector is teetering on the edge of growth and decline. In the UK, the situation is similar: the final Services PMI is likely to remain below the neutral level of 50, reflecting the ongoing pressure from the Bank of England’s high rates on the economy. Any surprises, either upwards or downwards, could significantly impact euro and pound exchange rates as well as European stock indices.
Russia and Other Emerging Markets: PMI and Rate Decision in Brazil
- Russia – PMI Index: CIS investors' attention will be drawn to the PMI business activity index for Russia in October. Preliminary data indicate that the manufacturing PMI remains below 50 points, signaling contraction in the industry. However, the situation in the service sector might have improved: the market expects a figure close to or slightly above 50, which would imply a stabilization of activity. An increase in PMI in Russia would raise optimism regarding business activity in Q4, while poor figures would heighten concerns about economic slowdown amid geopolitical risks and ruble fluctuations.
- Brazil – Interest Rate Decision: In the early hours of Thursday (around 00:00 MSK), the Bank of Brazil will announce its key interest rate decision. The current Brazilian Selic rate stands at 15.00%, a multi-year high, with authorities under pressure from a slowing economy calling for a rate cut. Analysts do not rule out the possibility that the regulator may initiate a cycle of monetary policy easing or at least clearly signal its readiness to lower rates in the coming months. Any change in Brazil's interest rates impacts investor sentiment in emerging markets: a rate cut could support Brazilian equities and currency, while a pause in cuts may temporarily cool risk appetite in the region.
Asia and the Pacific Region: PMI in China, Bank of Japan Minutes, and Australian Data
- China – Caixin Services PMI: This morning, the Caixin Services PMI index for October was released. Following recent indications of improvement in manufacturing (with the Caixin Manufacturing index slightly above 50), investors want to see if the services sector supports the recovery trend. A value around 52-53 points is expected, indicating moderate growth in services. An acceleration in activity from China would be a positive signal for commodity markets and Asian equities, especially given the previous government stimulus measures. Conversely, a weaker-than-expected PMI could cast doubts on the sustainability of economic recovery in China.
- Japan – Bank of Japan Minutes: The Bank of Japan is set to publish the minutes from its last meeting. Investors will scrutinize the details of discussions among central bank leaders to understand the future policy course. In the previous meeting, the Bank of Japan maintained its ultra-accommodative monetary policy but hinted at the possibility of adjusting bond yield control. Should the minutes reveal that some board members lean towards tightening policy or a quicker rate hike in the future, the yen may strengthen, and the Japanese stock market could respond negatively. However, the base scenario appears to show ongoing disagreements without immediate changes, limiting the minutes' market impact.
- Australia and Regional Data: In Australia, PMI indices and other statistical data reflecting the economy's state will be published following the Reserve Bank of Australia's recent decision to keep rates unchanged. Strong business activity metrics coupled with a recent rise in inflation would solidify expectations that the RBA will maintain high rates for longer. Conversely, if the PMIs indicate a slowdown, discussions surrounding possible rate cuts may intensify. In Canada, there is no significant statistical data released on Wednesday, but investors are watching the broader context: tomorrow will see the Canadian Ivey PMI index, as well as end-of-week employment data. Overall, morning data from Asia-Pacific markets will set the tone: strong reports will drive risk appetite, while weak indicators may heighten trader caution.
U.S.: Corporate Reports Before Market Open
Beyond macroeconomics, investors are paying attention to the continuation of the corporate earnings season. Before the main trading session in the U.S. opens, a series of major companies will release their earnings results that set the tone in their respective sectors:
- McDonald’s: The world's largest fast-food chain (a component of the Dow Jones index) will report its Q3 results. Analysts expect a revenue increase of approximately 3% year-on-year to around $7.1 billion, along with a slight rise in earnings (estimate around $3.33 per share). Investors are interested in whether McDonald’s continues to demonstrate comparable sales growth driven by price increases and demand for its value menu. Strong results from McDonald’s would signal positive consumer demand both in the U.S. and globally, while weak figures could raise concerns regarding costs and inflationary pressure on consumers.
- Humana: One of the largest health insurance companies in the U.S. will report quarterly earnings. The healthcare sector is currently under scrutiny due to rising costs and reforms. A confident increase in premiums of about 8-9% is expected, which should support revenue. The consensus forecast for Humana's earnings is approximately $2.90 per share. Investors will look for signals in the report regarding dynamics in healthcare costs and client base forecasts to gauge the prospects for the entire health insurance sector.
- DigitalOcean and Unity: Among mid-cap tech companies, cloud provider DigitalOcean and game engine developer Unity Software are set to report before trading begins. **DigitalOcean** (targeting small and medium businesses in cloud servers) will release results in the morning; forecasts indicate a revenue growth of approximately 20% year-on-year. Maintaining customer base and controlled expenses are key points for assessing business resilience. **Unity** – a platform for developing games and 3D content – will also report before the market opens. Even though revenue growth is expected to slow down (around +30% year-on-year), investors are awaiting updates on loss reduction and the success of monetization efforts after previously announced licensing changes. Market reaction to these reports will reflect investors' risk appetite in the mid-cap technology segment.
U.S.: Key Reports After Market Close
The main block of U.S. corporate earnings reports will be released after market close (after 23:00 MSK). This evening, investors will receive financial results from several well-known companies that could set the tone for the entire technology and consumer sectors:
- Qualcomm (after close): A leading player in the semiconductor industry will report its results for Q4 of the 2025 fiscal year. Qualcomm’s report is expected to impact the entire technology sector: analysts forecast approximately $10.9 billion in revenue and $2.30 in earnings per share (GAAP). Increased demand for chips for automotive, IoT, and AI applications is anticipated to offset slowdowns in smartphone markets – expectations underpinning investor sentiment. Special attention will be given to management's forecast for the next quarter and comments on supply chain and 5G licensing. A strong report from Qualcomm could boost the shares of the entire semiconductor sector, while disappointment may heighten caution within the tech segment.
- Robinhood: The fintech broker Robinhood will report its Q3 results amid impressive stock growth this year (HOOD shares have risen nearly 300% year-to-date). Market expectations are optimistic: revenue may have surged to approximately $1.2 billion (+90% year-on-year) due to increased interest income and a consistent influx of new customers. Investors are interested in whether Robinhood has managed to maintain profitability after reaching break-even earlier this year, as well as metrics regarding trader activity and customer assets volume. Robinhood's report is crucial as an indicator of retail investor interest in the market and the state of the fintech sector.
- Snap Inc.: The developer of the popular messaging app Snapchat will provide data for Q3 during a conference call at 00:00 MSK. Following mixed results in the previous quarter, Snap is now expected to show slight revenue growth and stabilize its audience. The consensus forecast suggests moderate increases in ad sales; however, business margins are under pressure. Investors will closely monitor user metrics (daily active users, engagement) and the company's forecast for Q4 – typically a strong holiday season. The stock dynamics of Snap after this report will set the tone for other social media and ad-tech companies.
- Arm Holdings: The chip design manufacturer Arm, which recently returned to the public markets, will report its Q2 results for the 2026 fiscal year. This will be one of the first significant earnings reports for Arm after its IPO and is expected to attract considerable attention. The market anticipates revenue growth driven by expanded licensing of ARM architecture in the server and mobile segments. Investors are also keen on the company's prospects in the AI chip sector. Given Arm's status as a barometer for the semiconductor industry, its report and comments may influence valuations and appetite for tech IPOs.
- Duolingo: The edtech startup Duolingo (a language-learning platform) will announce its results in the evening, bolstered by robust business growth. Revenue for Q3 is expected to increase by approximately 35% year-on-year, nearing $260 million. Although growth rates may have slowed compared to the previous quarter, this outcome underscores strong user retention and the company's ability to monetize subscriptions. If Duolingo surpasses expectations or improves its outlook, it will bolster positive sentiment surrounding the online education sector. However, rising marketing expenses or a decline in user activity may alarm investors.
- Figma: Figma, a cloud-based design software developer, will release its financial results (now a public company with the ticker FIG). Analyst consensus for Figma stands at earnings of approximately $0.05 per share with revenue around $264 million for the quarter. This report is particularly interesting in light of recent volatility in tech IPO stocks. Investors will assess Figma’s user base growth rates, expansion of corporate clients, and competitive dynamics (including integration with Adobe). Strong results from Figma could restore confidence in new names on the stock market, while weak results may increase caution regarding highly valued tech newcomers.
- SolarEdge: The solar energy equipment manufacturer SolarEdge will report against a backdrop of recent challenges – last quarter, the company shocked the market by revising its forecast due to declining demand in Europe, causing its stocks to plummet. Investors are now awaiting how SolarEdge manages inventory buildup and sales slowdown. A decline in revenue is anticipated, with the key question being whether demand will recover in 2024. SolarEdge's results will influence the entire renewable energy sector: positive news could lift sentiment in green energy, while further disappointing figures could lead to sell-offs in competing stocks.
- Other Reports: Among other companies reporting after market close, notable mentions include **AMC Entertainment** (the cinema chain, expecting a loss of approximately $0.15–0.20 per share amid a gradual recovery in theater attendance), **Applovin** (mobile app monetization platform developer, with expected revenue and margin growth following success in advertising and games), **IonQ** (quantum computing startup – of interest to tech enthusiasts, though still operating at a loss), **Recursion Pharmaceuticals** (biotech, crucial data regarding progress in AI-drug developments), and **Brinks** (security and cash handling service provider, an indicator of offline business activity). Additionally, **Dutch Bros** (coffee chain, reporting revenue growth from expansion in Western U.S.), **Cameco** (Canada’s largest uranium producer, results are of interest amid uranium price rallies), and **Sportradar** (Swiss sports data provider, with investors assessing growth in data business for betting and media). While each of these companies has its peculiarities, collectively they will provide a broad picture of corporate health – from traditional sectors to cutting-edge industries.
Europe: Corporate Reports and Market Leaders
European exchanges also witness significant corporate earnings reports. Particular attention is given to the company that has become a locomotive for the European market in recent months:
- Novo Nordisk: The Danish pharmaceutical giant and the most valuable company in Europe released its financial results early in the morning (before trading began in Copenhagen). Novo Nordisk, the manufacturer of the revolutionary weight-loss drug Ozempic, has demonstrated rapid profit growth in recent quarters due to global demand for diabetes and obesity medications. Revenue for Q3 is forecasted to have increased at double-digit rates, while profits continue to set new records. Investors will closely listen to management's guidance: will the high demand persist, and are production capacities sufficient to meet global interest in their products? The Novo Nordisk report is not only important for the company's stock but also for the broader European market – results from such a heavyweight will influence the OMX Copenhagen index and Euro Stoxx 50, as well as set the tone for the pharmaceutical sector.
- Other European Companies: Among other reports today, a series of industry leaders will provide updates. For instance, **Orsted** (Denmark) will publish its results for the first nine months of 2025: a key player in the wind energy sector, its figures will clarify the landscape for renewable energy in Europe. Reports from **Rheinmetall** (Germany, defense sector) and **Engie** (France, energy) are expected throughout the week, and investors are already assessing how geopolitical factors and energy prices have impacted their profits. While no major publications are scheduled today from Russian companies, the reporting season on the Moscow Exchange is mostly concentrated at the end of October and mid-November. Nevertheless, CIS investors are tracking financial trends: recent strong results from Sberbank (revenue growth for the first nine months) and expectations regarding the earnings reports of oil and gas giants in the coming weeks are shaping the background for the Russian market.
Conclusion: Risks and Opportunities for Investors
The day of November 5, 2025, is packed with events that could either shake markets or bolster investor optimism. The primary risks are centered around potential negative surprises: weak PMI readings in key economies may reignite fears of recession, while disappointing corporate reports from industry leaders could undermine confidence in the prospects of specific sectors. Special attention should be given to the ruling of the U.S. Supreme Court on tariffs, as its outcome has the potential to alter the game for several industries and reorient global trade flows. On the flip side, market opportunities lie in positive news: robust growth in the service sector, strong employment data, or impressive profits from companies (for example, Qualcomm or Novo Nordisk exceeding forecasts) could instill confidence in investors and support a rally in risk assets. For CIS investors, the current news backdrop serves as a reason to carefully evaluate their portfolios: commodity currencies and stocks will react to data from the U.S. and China, while rate decisions and corporate earnings will help adjust expectations regarding global liquidity and demand. As the day concludes, markets will gain a clearer understanding of where the global economy is headed as the year closes, and this understanding will form the basis for investment strategies – both in terms of risk protection and identifying new growth points.
