Economic Events and Corporate Reports — Friday, February 6, 2026 Nonfarm Payrolls USA, RBI interest rate, GDP RF

Key Economic Events and Corporate Reports on Friday, February 6, 2026: U.S. Labor Market Data, Reserve Bank of India Rate Decision, Russia's GDP, Germany's Statistics, and Reports from Major Public Companies Worldwide.

This Friday, the attention of investors in the CIS financial markets will be focused on important macroeconomic publications and corporate reports. The day promises to be eventful, covering topics from the decision of the Reserve Bank of India and industrial production statistics in Europe to crucial labor market data from the U.S. (Nonfarm Payrolls) and the blocks of reports from major companies. Below, we will examine the key events of February 6, 2026, their expected indicators, and potential market impacts. At the end of the day, investors will need to assess the results of these publications to adjust their strategies accordingly. A brief overview will help prepare for these occurrences and understand what to expect in the markets.

EU: Potential Trade Tariffs Against the U.S.

Amid ongoing trade tensions between the European Union and the U.S., investors are closely monitoring the situation regarding possible tariffs. Previously, the U.S. contemplated implementing 10% tariffs on a range of goods from Europe (with a future increase to 25%) due to disagreements surrounding Greenland, but unexpectedly withdrew this threat in January. The EU, on its part, has prepared retaliatory measures—special tariffs of 10%, 25%, and 30% on U.S. goods (such as motorcycles, jeans, meat, etc.) that could take effect as soon as February 7, 2026. Following the U.S.'s softened position, the EU has suspended the imposition of these tariffs for six months. Nevertheless, the possibility of renewed tariff confrontations remains a risk factor. If rhetoric escalates again, stock markets in the EU could experience tension. So far, no new measures are officially planned for February 6, and likely, both parties will continue dialogue in line with the trade agreement from July, which stipulates maximum tariffs of 15% and gradual trade liberalization. Investors should consider these geopolitical factors, although direct actions may not occur on that day.

India: Reserve Bank of India's Rate Decision (07:30 MSK)

Early on Friday, the Reserve Bank of India (RBI) will announce its decision regarding the interest rate. The meeting of the Indian regulator is attracting attention as the Indian economy demonstrates high growth while inflation stabilizes. Analysts predict that the RBI is likely to keep the key repo rate unchanged at the current level of 5.25%. Recall that during 2025, the Indian central bank reduced the rate a total of 125 basis points, including a last reduction of 0.25 p.p. in December to 5.25%. Economists note that the cycle of policy easing is likely over, as the regulator prefers to wait and assess the effects of previous stimulus measures. The decision will be announced at 10:00 AM Indian time (07:30 MSK) after a three-day meeting. Markets have priced in an RBI "pause": maintaining the rate may support the rupee and Indian stocks, while an unexpected move (e.g., an additional cut) would come as a surprise. Investors with assets in Indian instruments should also watch the regulator's rhetoric regarding liquidity and inflation—it's anticipated that the tone will be neutral, focused on maintaining stability until macroeconomic dynamics become clearer.

Germany: Industrial Production for December (10:00 MSK)

At 10:00 AM MSK, Germany's industrial production figures for December 2025 will be released. The previous month (November) showed a production increase of +0.8% month-over-month, better than expected, thanks to a revival in the automotive sector and machinery, although the energy sector had contracted at that time. However, in December, economists expect a slight decline in production amid weakening external demand. The consensus forecast for month-on-month industrial output change in Germany is approximately -0.3% (following November's growth of +0.8%), although some models predict a small increase of around +0.3%. Year-on-year, rates may also be close to zero or negative, considering last year’s high base and operational interruptions during the holidays. For the euro market and European stocks, this data serves as an indicator of the health of the largest EU economy. If statistics outperform expectations (for example, if growth persists due to high orders—factory orders in Germany unexpectedly surged by +7.8% month-on-month in December), it will support the euro and boost sentiment on European exchanges. Otherwise, weak industrial production could heighten concerns over a slowdown in the eurozone economy.

USA: Nonfarm Payrolls for January and Unemployment Rate (16:30 MSK)

The main macro event of the day is the release of the U.S. labor market report for January 2026. Traditionally, the January NFP (Nonfarm Payrolls, the number of new jobs outside agriculture) release draws increased attention from the Federal Reserve and investors, and this time it garners even more interest due to expected data revisions and a trend towards slowing hiring. According to the consensus forecast, employment in January is expected to have grown by approximately +70,000 jobs—slightly higher than December's modest result (~50,000), but significantly lower than the average pace of the previous year. Major banks, such as BofA, are even more cautious, predicting around +45,000 new positions, highlighting the labor market's weakening and probable statistical revisions. The unemployment rate is projected to remain at 4.4%, the same as the previous month. Recall that in December, unemployment fell to 4.4% from 4.5% in November, despite modest employment growth of only 50,000 jobs. Analysts will closely examine the details of the report: sectors that contributed to job growth or reduction, trends in average hourly earnings, and revisions to previous months. Even with a moderate increase in NFP around 50–70,000, the figure may be seen as a weak sign of an cooling U.S. economy. For the markets, this could mean a reassessment of expectations regarding Fed policy— a weak report would increase the likelihood of a softer tone from the regulator and exert pressure on the dollar, while an unexpectedly strong surge in hiring would be a surprise, potentially leading to rising bond yields and a stronger dollar. Thus far, the base scenario anticipates a moderate increase in employment with a stable unemployment rate around 4.4%, which confirms the picture of a slowing yet still relatively tight U.S. labor market.

USA: Michigan Consumer Confidence Index and Inflation Expectations (18:00 MSK)

Closer to the evening, at 18:00 MSK, preliminary data from the University of Michigan's Consumer Confidence Index for February will be released. In the previous month (January), American consumers showed a slight improvement: the final index rose to 56.4 points, up from 52.9 in December, reaching a five-month high. For February, a slight downward adjustment in confidence is expected, with a consensus forecast of around 55 points amid persistent inflation and uncertainty. Beyond the index itself, significant importance is attributed to the survey data on inflation expectations among Americans. In the January report, short-term (one-year) inflation expectations notably decreased to 4.0%—the lowest level since January 2025, although still above pre-pandemic levels. Conversely, long-term (five-year) expectations saw a slight increase from 3.2% to 3.3%, remaining above the range of 2.8-3.2% observed in 2024. Such indicators suggest that consumers anticipate a slowdown in inflation over the coming year, but are still unsure about returning to target levels in the long term. If the February survey shows further declines in inflation expectations and stability in the confidence index, it would provide a positive signal for the Fed (evidence of strengthening "anchors" of expectations) and for the markets, as it reduces the need for aggressive central bank actions. Conversely, an unexpected spike in inflation expectations could alarm market participants. Investors will closely monitor this data since it influences interest rate sentiments and consumer activity.

Russia: GDP for Q4 2025 and Industrial Production (19:00 MSK)

In the evening, Rosstat will publish a block of important macro statistics on the Russian economy. Firstly, the preliminary GDP estimate for Q4 2025 will be released. According to officials, the Russian economy grew by approximately 1% for the entire year 2025, slowing after a rapid recovery in the previous two years. For the first nine months of 2025, the total GDP growth reached 1.0% year-on-year, while Q3 recorded a year-on-year increase of 0.6%. Thus, Q4 is expected to show growth rates close to zero—likely between 0% and +0.5% year-on-year—which corresponds to an overall picture of stagnation amid external constraints and the exhaustion of post-COVID recovery effects. Investors will assess how actual figures align with these estimates. Secondly, data on industrial production for December will be published. By year-end, the Russian industry showed signs of deteriorating dynamics: in November, production decreased by 0.7% year-on-year following a 3.1% growth in October, which was worse than expected (a forecast of +1.2%). Preliminary estimates for December are also cautious—the consensus forecast predicts a decline of about 1% year-on-year. If actual figures show a drop close to these levels, it would confirm the trend of industrial slowdown toward the year's end. Separately, markets are monitoring the situation in the oil and gas sector and the manufacturing industry: preliminary data suggest that for the entirety of 2025, output in the manufacturing sector grew about +2.8%, while extraction may have been declining. The reaction of the Russian stock market and the ruble to this data will be limited since the figures are close to expectations. However, signals regarding the sustainability of GDP growth, albeit at low levels (around 1%), and the readiness of the industry for further challenges will be crucial for domestic policy. Investors should note that macro factors in Russia are currently secondary to geopolitical ones, but unexpected deviations in statistics can have short-term effects on the ruble's exchange rate and local stock valuations.

Corporate Reports on February 6, 2026

In addition to macroeconomic data, the corporate reporting season will continue on February 6 across various regions. On this day, companies from the U.S., several European countries, and Asia will present their financial results. Below, we have compiled key issuers that will report, including their ticker, sector, time of report release, and the main market expectations.

USA (S&P 500 and others): Key Reports

* Time is indicated in Moscow Standard Time (MSK). In the U.S., most reports on February 6 are released before the market open (BMO – before market open), as it is a Friday.

Among the highlighted U.S. issuers, investors should pay particular attention to Biogen's report—the pharmaceutical company will present its results for Q4 2025 and the entire year. Revenue is expected to decline nearly 10% (to ~$2.2 billion) and earnings per share to drop to ~$1.60 amid plunging sales of existing drugs for multiple sclerosis and competition in the market. The management's comments on new drugs and projections for 2026 will be under scrutiny. Another interesting release is from Centene: the insurer is likely to show a sharp increase in revenue (+18% year-on-year) due to the expansion of Medicaid programs, although there may be a net loss this quarter due to one-off expenses. This could impact the company’s shares, even though operating trends are positive. Under Armour will wrap up the week with its report: investors hope to see stabilization in sales of sports apparel after a challenging year. The consensus for Under Armour is a modest loss (~$0.02 per share) on revenue of around $1.55 billion, and any deviation could significantly affect shares, given the volatility in the retail sector. Other companies such as AutoNation (regarding car sales dynamics and dealer business margins, steady results are expected), Cboe (growth in derivatives trading revenues, with a profit consensus of $2.9/share), and several others will also report. Overall, Friday in the U.S. is less saturated with names than previous days of the week, but the results from Biogen, Under Armour, and others will help assess the health of various sectors—from biotech to consumer.

Europe (Euro Stoxx 50): Reporting Situation

In Europe, February 6 is relatively quiet concerning corporate reporting from major companies. Investors are more focused on macro statistics (as discussed above) and the results already published by several giants (such as Shell and BNP Paribas, reported on February 5). No company in the Euro Stoxx 50 has planned to release a financial report on February 6. This is explained by the schedule of the European reporting season: most leading corporations in the Eurozone disclose results for Q4 later in February or early March. However, some second-tier businesses will present data. For instance, Norwegian telecommunications operator Telenor ASA will release its report for Q4 2025 in the morning, while Swedish real estate companies Balder and Hoist Finance will do so in the afternoon. Although these firms are not part of the Euro Stoxx 50, their results may shed light on the state of their corresponding sectors in Europe—telecom and real estate. Overall, on February 6, the European equity market will be influenced by external signals (U.S., Asia) and the dynamics of economic indicators, with low volatility expected from corporate news. Investors in European equities should prepare for the main flow of annual reports closer to mid-month, yet it remains crucial to stay updated on any corporate announcements or warnings.

Asia (Nikkei 225): Key Japanese Companies

In the Asian region, the week will conclude with reports from several major companies, primarily from Japan. Toyota Motor—the world's largest automaker—will present financial results for Q3 of the 2026 fiscal year (October–December 2025) on February 6. This report is critical for assessing the state of the automotive industry: profit growth is expected for Toyota, driven by a weakening yen and high sales of hybrid models, although analysts will be monitoring the impact of component shortages and the strategy regarding electric vehicles. Also expected to report on this day, according to Japanese press, are other heavyweights of the Nikkei: for instance, financial conglomerate Mitsubishi UFJ Financial Group (MUFG) and tech giant Sony Group are concluding the release of their weekly block of reports (their results might, however, be published earlier in the day or after market close on February 5). The Japanese stock market has already priced in expectations of positive results: many corporations have raised forecasts due to a weakening national currency and domestic demand. If reports meet expectations (Toyota's consensus anticipates an increase in operating profit and confirmation of the annual sales forecast), the shares of these companies and the Nikkei 225 index may receive support. Investors in Asian assets are also advised to pay attention to telecom sectors, as for example, Advanced Info Service (AIS) from Thailand will publish quarterly results early in the morning, potentially setting the tone for trading in Southeast Asia. Overall, on February 6, Asian markets will be influenced not only by local reports but also by the general sentiment formed following overnight data from the U.S. and Europe.

Russia (MOEX): Corporate Calendar

On the Russian market, there are no financial report publications expected from major issuers on February 6. Annual and quarterly results from companies that form the Moscow Exchange index (MOEX) traditionally are released later—usually in March-April (annual IFRS) or after the end of the quarter. Thus, neither Sberbank, Gazprom, nor other blue-chip firms will present new data on this day. However, investors should keep in mind that some companies may publish operational production figures for January or provide forecasts for the year in the context of industry events. Additionally, the corporate backdrop in Russia on February 6 will be shaped by external news: the dynamics of oil and metal prices, as well as global risk appetite trends. Consequently, for the Russian equity market, this day will primarily revolve around macroeconomic statistics (GDP and industry, as discussed earlier) and external signals, rather than internal corporate drivers. Investors on the MOEX are advised to use the relative calm in the reporting calendar to prepare for the onset of the Russian financial reporting season in spring and evaluate the fundamental ratios of Russian stocks in anticipation of upcoming releases.

Conclusion: What Investors Should Focus On

February 6, 2026, encompasses several themes that could influence market sentiment. Investors should assess early the outcomes of the Reserve Bank of India's decision and data from Europe, then focus on the "super Friday" in the U.S.—the Nonfarm Payrolls report that will set the tone for trading in the latter half of the day. Important indicators from Russia will emerge in the evening, although their influence tends to be more localized. The corporate block is less saturated than in previous days, but reports from companies such as Biogen, Under Armour, and Toyota will serve as indicators of their respective sectors' health. By evenly distributing attention between macro and microeconomic factors, an investor can timely respond to the information released. The key advice is to watch for deviations of actual data from forecasts: surprises (be it an unexpected surge in unemployment in the U.S., a sharp change in inflation expectations, or a surprisingly strong/weak corporate report) typically provoke the most vigorous market reactions. May this Friday be productive for you—by thoroughly preparing, you will meet it fully armed and able to make informed investment decisions.