Detailed Review of Economic Events and Corporate Reports on Tuesday, September 23, 2025. Global PMIs, Jerome Powell's Speech, API Oil Report, Micron and AutoZone Results. Analyzing Impact on Global Markets for CIS Investors.
Tuesday, September 23, 2025, is set to be a busy day for global markets. Investors are closely monitoring a series of key economic indicators—from Purchasing Managers' Indexes (PMIs) worldwide to speeches by central bank heads. Important geopolitical events are also on the agenda: a meeting is scheduled between Russian Foreign Minister Sergey Lavrov and U.S. representative Marco Rubio at the UN General Assembly, drawing attention to the prospects of bilateral dialogue. Simultaneously, several major companies across different sectors will publish their financial results, including U.S. giants Micron Technology and AutoZone. This array of events will require investors to assess new data swiftly and be prepared to respond to developments.
The day will be dominated by global PMIs and monetary policy signals, shaping market trends for equities, bonds, and currencies. In the morning, focus will be on activity metrics from Asia and Europe, providing insights into economic conditions on different continents. As the evening approaches, attention will shift to the U.S., where alongside macroeconomic statistics, Federal Reserve Chair Jerome Powell will deliver a speech—his rhetoric could influence interest rate expectations. Data from commodity markets, including the API oil inventory report, is particularly significant for commodity currencies and the Russian market. Finally, investors will evaluate corporate earnings: Micron's results will serve as a benchmark for the technology sector, while AutoZone's report will clarify conditions in the retail automotive business. Below, we will examine each event in detail and its potential impact.
Asia: Australia's and India's PMIs, Trading Pause in Japan
- 02:00 MSK – Preliminary PMI indices for Australia for September (Manufacturing, Services, Composite). Early data from the Australian economy will help assess the dynamics of the industrial and service sectors. Stable readings may indicate a continuing recovery, while an unexpected decline signals external risks for the region.
- 08:00 MSK – Preliminary PMIs for India (September). A composite indicator of business activity in one of the world's largest emerging markets. Strong values of India's PMI will confirm resilient growth in the country's service and industrial sectors, while a slowdown could heighten concerns about global demand.
- Japanese Markets – The Tokyo Stock Exchange (Nikkei 225 index) will be closed on Tuesday due to a national holiday. This absence of trading in Japan means that the Asian session may proceed with a calmer tone, lacking guidance from one of the region’s key markets.
Europe: Preliminary PMIs for Germany, Eurozone, and the UK
- 10:30-11:30 MSK – A series of preliminary business activity indices in Europe for September. At 10:30, Germany's manufacturing PMI will be released, followed by the Eurozone’s composite PMI at 11:00, and the UK PMI at 11:30. Analysts expect to see moderate growth without significant changes. Stable PMIs in Germany and the Eurozone indicate that the region’s economy is avoiding recession despite previous energy crises. For the UK, the PMI data will reflect the state of manufacturing and services against the backdrop of post-Brexit realities and high inflation. The response of European markets (DAX, FTSE 100, EURO STOXX 50) will depend on whether the figures meet forecasts: deviations could influence the euro and British pound exchange rates.
Geopolitics: Lavrov and Rubio Meeting at the UN General Assembly
- On the sidelines of the 80th session of the UN General Assembly in New York, a meeting is scheduled between Russian Foreign Minister Sergey Lavrov and U.S. representative Marco Rubio (who holds a key position in the current U.S. administration). Investors will be watching for signals from this meeting: discussions may cover the future of bilateral economic cooperation or the resolution of current geopolitical conflicts. Any signs of a thaw in relations between Moscow and Washington could reduce global tensions, while stern statements may remind markets of ongoing risks related to sanctions and trade barriers. Although the immediate effect of this diplomatic conversation on financial markets is limited, the overall news backdrop from the UN could influence investor sentiment, especially in the emerging markets segment.
USA: Business Activity, Housing Market and Manufacturing Index
- 16:45 MSK – Preliminary composite PMI for the U.S. for September (S&P Global). The index of business activity in the manufacturing and service sectors is a key barometer of the American economy’s health. A result above 50 will indicate activity expansion. Investors in U.S. equities and the dollar will pay close attention to this figure: acceleration in the PMI might support expectations of economic resilience, while a decline could fuel discussions of a potential slowdown into year-end.
- 17:00 MSK – U.S. statistics: August existing home sales and the Richmond Fed manufacturing activity index for September. The U.S. housing market is influenced by rising rates, so data on home sales will reveal how buyers are responding to more expensive loans. Concurrently, the Richmond Fed index will provide additional insights into the industrial sector on the East Coast. If home sales continue to decline and the manufacturing index appears weak, this will signal further economic slowdown. However, unexpectedly strong data could bolster positive sentiment on Wall Street.
Central Bank Rhetoric: Powell (Fed) and Macklem (Bank of Canada)
- 19:35 MSK – Public address by Jerome Powell, chair of the U.S. Federal Reserve. Following the recent easing of monetary policy by the Fed, markets are eager to understand the regulator's future plans. Any comments from Powell regarding inflation, the labor market, or future rate changes will be closely scrutinized by analysts. If the Fed chair indicates a readiness to keep rates low to support growth, it may provide momentum for stock indices. However, hints of concern over inflation or financial instability could heighten volatility and adjust rate expectations.
- 21:30 MSK – Speech by Tiff Macklem, governor of the Bank of Canada. The Canadian central bank is also in focus, especially after recent rate decisions. Macklem may address topics related to inflation in Canada, commodity price dynamics (a key factor for the Canadian economy), and the global economic landscape. For the currency market, the BoC head's comments are particularly significant for the Canadian dollar (CAD). If signals of potential policy changes or risk assessments emerge in his speech, the reaction may be reflected in currency pairs involving CAD and overall North American investor sentiment.
Oil Market: API Crude Oil Inventory Report
- 23:30 MSK – Weekly report from the American Petroleum Institute (API) on U.S. oil inventories. This late release may set the tone for energy prices at the beginning of Wednesday. If the API reports a significant reduction in oil and petroleum product inventories, this will indicate high demand or limited supply and may support price increases for WTI and Brent crude. Conversely, an unexpected build-up in inventories could lead to short-term price declines. For Russian investors, the API data is particularly interesting as oil dynamics directly affect the ruble’s exchange rate, the shares of oil and gas companies, and the overall risk level in the local market.
U.S. Corporate Reports: Micron and AutoZone in Focus
- AutoZone (USA, S&P 500) – Financial report for Q4 will be published before trading begins in the U.S. As the largest auto parts retail chain, AutoZone has shown resilient demand amid the increasing average age of vehicles on the roads. Investors will assess whether AutoZone has maintained double-digit earnings per share growth through product expansion and a stock buyback program. The company’s results will provide insights into consumer spending on vehicle maintenance and may influence the dynamics of the entire retail sector in the U.S.
- Micron Technology (USA, NASDAQ) – Quarterly report will be released after the U.S. market closes. As one of the global leaders in memory chip production, Micron stands out amidst the AI boom and high demand for high-bandwidth memory (HBM) for data centers. Investors expect improved financial metrics from Micron following a downturn in the semiconductor sector. The management’s forecasts regarding memory chip demand will serve as a barometer for the entire technology sector: optimistic comments could drive Nasdaq and competitors’ shares higher, while a cautious outlook or weak revenue may cool off risk appetite in the tech segment.
- Other U.S. Companies – In addition to the two mentioned giants, several mid-cap U.S. companies are also reporting on this day. These include AAR Corp (aviation services), MillerKnoll (furniture manufacturer), and Worthington Industries (metallurgical production). While their results may not have as significant an impact as those of Micron and AutoZone, they could trigger movements in the corresponding sectors locally. Overall, the influence of these reports on the broader market is limited, thus keeping the main focus on the day’s flagships.
Europe and Other Regions: Company Reports
- Smiths Group plc (UK) – Publication of financial results for the financial year. This British engineering and industrial group (focused on equipment for energy, medical, and security sectors) will present data reflecting the state of industrial demand in Europe. Strong results from Smiths will indicate sustained investments from the corporate sector, while weak figures could raise concerns about industrial decline in the region.
- Kingfisher plc (UK) – Report for the first half of the year. The owner of retail chains for home improvement (including Castorama) serves as an indicator of consumer activity in Europe. Data on sales from Kingfisher will show how European consumers are spending on home upgrades in the context of rising inflation. The retailer's financial results may influence the shares of the DIY (Do-It-Yourself) sector and comparable companies on European exchanges.
- TUI AG (Europe) – Operational update for Q4 (pre-close trading update). One of the largest tourism groups in the world will summarize the preliminary results of the summer season. Investors will evaluate resort occupancy and profitability in the travel business amid opened borders and a resurgence in travel. If TUI reports a strong summer season, it will support shares in the tourism and aviation sectors. Conversely, weak performance or cautious forecasts may heighten concerns regarding global tourism recovery.
- Russian Market – On the Moscow Exchange, the season for publishing financial reports for the first half of the year is drawing to a close. On September 23, no major issuers on MOEX are expected to release new financial reports. Russian investors will continue to digest previously published results and focus on external factors—oil prices, the ruble exchange rate, and global trends that set the tone for the local market.
Summary of the Day: What Investors Should Pay Attention To
On Tuesday, a comprehensive picture of the global economy and market sentiment will take shape. Investors should focus particularly on PMI dynamics: if results align with forecasts, it will confirm the stability of current growth, while unexpected downturns could provoke corrections in stock markets and currency fluctuations. Jerome Powell's speech is the day’s key moment: if the Fed head hints at future regulatory actions, it will affect bond yields and demand for risk assets. Simultaneously, signals from the UN General Assembly (diplomatic meetings) create a backdrop of geopolitical risks that investors in emerging markets cannot afford to ignore.
On the corporate front, Micron Technology's report may set the tone for the entire technology sector—both in the U.S. and global markets, considering supply chain interconnections. Results from AutoZone and other consumer sector firms will indicate whether purchasing activity persists in the U.S. domestic market. Finally, commodity traders will be tracking the API oil data: the reaction of oil prices will reflect on currencies of commodity-rich countries (including the ruble) and shares of energy companies. Thus, September 23 demands a global approach from investors—a monitoring of several market segments simultaneously. Risk diversification and readiness to swiftly reallocate assets in response to new data will equip them to face a news-heavy day with preparedness.
