Detailed Overview of Economic News for September 10, 2025: Inflation in China, Brazil, and Russia; PPI Index in the USA; Oil Data; Corporate Reports from Oracle and Inditex; and Stock Indices Dynamics of S&P 500, Euro Stoxx 50, Nikkei 225, and Moscow Exchange.
On Wednesday, September 10, 2025, investors are focused on several key events in the global economy. Central to the agenda are fresh macroeconomic statistics (inflation data from China, Brazil, and Russia, as well as the Producer Price Index in the USA), corporate reports from companies in the USA and Europe, and the situation in financial markets. All of these factors contribute to shaping the primary narrative of the day and the key news for investors on September 10.
China: Standing Committee of the NPC Meeting and CPI Inflation
In Beijing, the 17th meeting of the Standing Committee of the National People's Congress continues (day 3 of 5). The highest legislative authority in China is reviewing a broad package of reforms and bills, including amendments to foreign trade law, new laws on nuclear energy, environmental protection, and cybersecurity. These initiatives aim to support the economy and long-term development and are under close scrutiny from the business community. Additionally, inflation data for China in August has been released this morning: the Consumer Price Index (CPI) is expected to have changed by approximately **-0.2% year-on-year** (following 0.0% in July), indicating a renewed risk of deflation. Weak inflation reflects sluggish domestic demand and falling commodity prices. This increases expectations for new stimulus from the government and a softer policy from the People's Bank of China to prevent further deepening of deflationary trends.
Brazil: Inflation Slowing Down
In the afternoon, inflation data for Brazil in August is expected to be released (publication at 15:00 Moscow time). Forecasts indicate a further slowdown in price growth to around **5.1% year-on-year**, down from 5.2% in July. Moreover, technical deflation on a monthly basis of approximately -0.1% may be recorded due to one-time discounts on electricity and a decrease in food prices. The slowdown in inflation brings the figure closer to the target range set by the Central Bank (3% ±1.5 percentage points), although core inflation in services remains high at around 6% annually. The Brazilian central bank has maintained the key interest rate at 15.00% – the highest in nearly two decades – as a response to the previously high inflation rates. The trend towards decreasing inflation strengthens expectations that a loosening of monetary policy may begin in the coming quarters, although analysts estimate that the regulator may postpone the first rate cuts until 2026.
USA: Producer Price Index (PPI) and Oil Data
The economic calendar for the USA on September 10 includes important statistical indicators. At 15:30 Moscow time, the Producer Price Index for August (PPI) – a measure of industrial inflation – will be released. In the previous month, PPI unexpectedly accelerated to +3.3% year-on-year, exceeding forecasts, mainly due to rising prices in services and energy. New data will reveal whether price pressures in the manufacturing sector persist or if wholesale price increases are slowing due to stabilization in commodity prices. Investors closely monitor PPI as a leading indicator for consumer inflation: moderate figures may strengthen expectations for the imminent end of the Federal Reserve's interest rate hike cycle. Later, at 17:30 Moscow time, the Department of Energy will release weekly oil data, including statistics on crude oil and petroleum products inventories in the USA. These oil data traditionally impact the commodity market: an unexpected reduction in stocks may push prices up, while an increase in inventories may weaken the market. Currently, oil prices hover around $65–70 per barrel, and the EIA report will assist market participants in assessing supply and demand dynamics ahead of the autumn season. This is an important indicator for the oil and gas sector and the entire energy market, capable of affecting traders' sentiment in the short term.
Russia: Macroeconomic Statistics and Inflation
In Russia, the final inflation data for August is expected to be published (Rosstat will announce the figures at 19:00 Moscow time). Preliminary estimates from the Ministry of Economic Development suggest a continued disinflationary trend: the last week of August saw a slight weekly deflation, and the annual inflation rate dropped to approximately **8.3%** by early September (down from 8.8% in July). The decrease in prices at the end of summer is primarily attributed to seasonal reductions in the prices of fruits and vegetables and the strengthening of the ruble in August. However, inflation in Russia still exceeds the Bank of Russia's target of 4% by a factor of two. To curb price pressures, the Central Bank had previously sharply raised the rate to 20% annually in August, then adjusted it to the current **18%**. The next meeting of the Bank of Russia is scheduled for September 12, and the new macro data on prices will be considered in making decisions. High core inflation and public inflation expectations (over 13%) create limited space for policy easing, so most analysts believe that the regulator will maintain a strict approach. A sustained decrease in inflation in the coming months could signal a more significant reduction in the key rate later, but for now, monetary conditions remain extremely tight, suppressing consumer demand and lending activity.
Company Reports: Focus on Oracle and Inditex
The corporate sector garners just as much attention as macro statistics. On September 10, investors are analyzing reports from several major public companies. Key highlights include the results of **Oracle (ORCL)**, one of the largest representatives of the S&P 500 index. The American IT giant released its quarterly report (for the first financial quarter of FY 2026) after the market closed the previous day. Preliminary data indicates that Oracle achieved double-digit revenue growth, primarily driven by its cloud business (Oracle Cloud Infrastructure and cloud applications), confirming its status as a new leader in cloud technology. Investors had high expectations for Oracle even prior to the report's release: since the beginning of the year, ORCL shares have gained about 40%, with market capitalization exceeding $650 billion. Markets are now assessing whether these expectations were met – analysts estimate Oracle's quarterly earnings aligned with consensus forecasts ($1.4–1.5 per share) amidst strong revenue growth to over $15 billion. Management has also provided a positive outlook on demand for cloud services, which bolstered investor confidence. In Europe, the main event of the day is the semi-annual reporting of **Inditex (ITX)** – the largest global retail chain for fashion clothing and one of the companies in the Euro Stoxx 50 index. The conglomerate, owning brands like Zara, Massimo Dutti, Pull&Bear, and others, presented its results for the first half of 2025. Inditex is expected to report double-digit increases in net profit despite moderate revenue growth. The company continues to effectively manage costs and increase sales both in physical stores and online, sustaining high margins. Over the last six months, Inditex is likely to have recorded a record net profit, backed by resilient consumer demand in Europe, North America, and recovering activity in key Asian markets for the group. It is noteworthy that there are no significant financial results scheduled for publication among companies in the Nikkei 225 index in Japan or the Moscow Exchange index in Russia on this date, as key reporting periods in these regions occur in other months. Thus, the focus of investors shifts towards American and European corporate news, which set the tone for global financial markets.
USA: S&P 500 Index
The American stock market demonstrates a moderately positive dynamic. The broad S&P 500 index remains close to local highs this week, despite the seasonally weak September period. Investors are buying the dips: the market is supported by inflation data indicating a gradual cooling, which bolsters hopes for the soon conclusion of the Federal Reserve's tightening monetary policy cycle. Current S&P 500 quotes reflect optimism regarding a potential rate cut in the USA in 2024: long-term bond yields have stabilized, and interest in risk assets has increased. Additionally, specific corporate events have further stimulated market growth: for example, shares of tech giants gained in value following news of legal successes (Alphabet avoided harsh penalties in an antitrust lawsuit) and strong financial results in the IT sector. Thus, the S&P 500 trades approximately 0.5–1% above early-month levels. However, the impending release of CPI inflation statistics in the USA and the Federal Reserve's decision at the end of September mean that some market participants remain cautious, locking in profits after the summer rally.
Europe: Euro Stoxx 50 Index
European stock markets on September 10 show a mixed dynamic. The continental index **Euro Stoxx 50** is consolidating near its recent highs, attempting to build on growth amidst external and internal factors. On one hand, a moderately positive external background (improvement in sentiments on Wall Street, stabilization in China) supports European shares. On the other hand, the weakness of the eurozone economy tempers investor enthusiasm: recent statistical data revealed stagnation in industrial production in Germany and a decline in business activity in the services sector. High energy prices and persistent geopolitical uncertainty (including trade disputes and sanctions) also exert pressure on several industries. Nevertheless, the Euro Stoxx 50 remains close to yearly highs due to strong earnings reports from several European corporations and expectations that the European Central Bank will pause its rate hikes. Many market participants anticipate that slowing inflation in the EU will allow the ECB to conclude its tightening cycle. Additional positive news includes the recent announcement from Italian authorities that they have softened their rhetoric regarding a new tax on windfall profits for banks, which revitalized the financial sector's stocks. Overall, European **stock market indices** trade relatively steadily, and volatility has decreased compared to August levels. Investors continue to watch for signals from the ECB (the regulator's meeting is scheduled for next week) and any news from China that could impact export-oriented companies in Europe.
Japan: Nikkei 225 Index
The Japanese index **Nikkei 225** remains close to multi-decade peaks. A favorable external environment and domestic factors support demand for Japanese shares. First, the Bank of Japan's ultra-loose monetary policy remains unchanged: the key interest rate is still negative, and the regulator continues its bond yield control policy. An excess of liquidity and cheap credit contribute to inflows into the stock market. Second, a weak yen (the yen to US dollar exchange rate fluctuates near multi-year lows) enhances the competitiveness of Japanese exporters and increases their profits when converting revenues back to the local currency. This supports stock price growth in sectors such as automotive, electronics, and industrial equipment. Third, positive structural shifts continue: Japanese companies are improving corporate governance and profitability, attracting foreign investors. For several months, Japanese stock indices have seen capital inflows from global investment funds considering the Tokyo Stock Exchange a promising market. Currently, the Nikkei 225 is trading in a range of approximately **33,000–34,000 points**, close to highs not seen since 1990. Risks for further growth are limited: potential inflation increases in Japan and hints at normalizing the Bank of Japan's policy could dampen the rally; however, officials assure that abrupt course changes are not anticipated at this time. Therefore, the Japanese market predominantly follows its own bullish trends, supported by both local and external factors.
Russia: Moscow Exchange Index
The Russian stock index **Moscow Exchange (IMOEX)** is trading between **2900–2950 points** in mid-September, showing a moderately positive dynamic. The local upward trend of recent months is primarily attributed to favorable conditions in the commodity markets and strong corporate results from Russian companies in the first half of the year. High oil and gas prices have provided profits and dividends for oil and gas giants, supporting their stock prices. The banking sector has also reported growth in indicators thanks to increased interest rates and margins. As a result, the Moscow Exchange index has risen about 10% since the beginning of summer, recovering to levels seen at the start of 2022. An additional factor has been the relative stabilization of the ruble after the introduction of currency control measures – the strengthening ruble has slightly increased local investors' confidence and reduced pressure on importers. However, the growth potential of the Russian market is constrained by several risks. First, monetary conditions in the country are very tight: a key rate of 18% and expensive credit are hindering investment activity in the economy, which may eventually reflect on the profits of companies in the real sector. Second, geopolitical risks and sanctions continue to limit Russian issuers' access to foreign capital and technologies. Investment sentiments in the market remain cautious: retail investors and internal funds play a significant role, while foreign capital is largely absent. In these conditions, trading activity is concentrated on blue-chip companies in the commodity and financial sectors, which are beneficiaries of the current situation. The Russian **financial markets** will soon focus on two factors: the trajectory of inflation (and the Central Bank of Russia's response to it) and the dynamics of energy prices. If inflation continues to slow down, this may enhance business expectations and support the stocks of cyclical companies. Moreover, consistently high oil and gas revenues create the potential for further strengthening of the Russian market, albeit within the existing sanctioned "corridor" of opportunities.
