Economic Events and Corporate Reports Monday, November 17, 2025 — Japan GDP, Canada CPI, US Budget

Japan's GDP for Q3 2025 (Preliminary Data) – Early on Monday (02:50 MSK), the preliminary estimate of Japan's GDP for the third quarter will be released. A slowdown in economic dynamics is expected: preliminary forecasts indicate a potential decline in GDP (around –2.5% year-on-year) following robust growth in Q2. In Q2, Japan's economy had unexpectedly accelerated (approximately +2.2% YoY), thanks to resilient domestic consumption and increased exports; however, by the end of summer, the effects of these factors may have weakened. The preliminary statistics for Q3 will show how external demand and inflationary pressures on consumers have impacted Japan's GDP. The data could influence yen exchange rates and the dynamics of Asian markets early in the morning, setting the tone for the start of the week.

Canada's Consumer Price Index (CPI) for October 2025 – Inflation statistics in Canada will be released during the day (16:30 MSK). Analysts expect a slight easing of inflationary pressure: the consensus forecast suggests a deceleration in the year-on-year price growth to ~2.1% compared to 2.4% in September. A decline in gasoline prices in October (~–5% month-on-month) is expected to offset the ongoing increase in food prices (approximately +3.8% YoY) and other goods. Should the actual data confirm the cooling of inflation, it will indicate movement closer to the Bank of Canada's target range (1–3%). Investors in the region will assess whether this slowdown is enough for the regulator to maintain a dovish stance following the recent rate cut cycle, or if price pressures remain persistent. The publication of the CPI may influence the Canadian dollar's exchange rate and expectations regarding future policy from the Bank of Canada.

US Federal Budget for October 2025 – Later in the evening (22:00 MSK), the US Treasury Department will present its federal budget report for October, the first month of the new fiscal year 2026. Investors will pay close attention to the size of the budget deficit as well as revenues and expenditures at the year’s start, especially considering that the deficit for the previous fiscal year 2025 reached ~$1.8 trillion (about 5.9% of US GDP). October typically records a deficit in the US, and current data is expected to show a significant surplus of expenditures over revenues, especially since interest payments on the debt and obligations for social programs remain high. According to estimates from the Congressional Budget Office (CBO), in October 2024, the deficit was $219 billion, and the market will compare the new figures with last year’s. For investors, signals regarding the state of public finances are critical: a growing deficit could intensify discussions around the debt burden (US national debt is already close to 100% of GDP) and potentially impact government bond yields and overall stability of economic policy. The late evening budget publication may set the direction for the US dollar exchange rates and sentiment in the bond market.

XPeng (XPEV) – The Chinese electric vehicle manufacturer will report its Q3 results before the US market opens. The company has already announced a record delivery of 116,007 electric vehicles for the quarter (+149% YoY), marking its fourth consecutive quarterly high. Investors are eager to see how the impressive sales growth has reflected on XPeng's financial metrics, especially considering the margin pressures in the industry. A management conference call is scheduled for 8:00 AM ET (4:00 PM MSK) on the same day. XPeng's results will provide insights into the dynamics of the Chinese EV (Electric Vehicles) market and whether the company can maintain its rapid growth amid competition and costs related to developing autonomous driving technologies.

ZEEKR (ZK) – Another representative of the Chinese automotive industry, the premium electric vehicle brand ZEEKR (part of the Geely group), will release its Q3 financial results on Monday morning, expected before the US market opens. ZEEKR continues to scale up its production: in Q3, the company delivered approximately 140,000 electric vehicles, representing a year-on-year sales increase of about 12.5%. Investors from the CIS will be evaluating this company's results for the first time following its recent IPO. The market is anticipating data on revenue (forecast around $4.7 billion) and loss per share (expected to be around –$0.18) for the quarter. ZEEKR's report will help to understand the situation in the segment of premium electric vehicles in China and consumer sentiment domestically.

JinkoSolar (JKS) – The largest solar panel manufacturer in China will present its quarterly financial results before the session begins. Analysts forecast a loss for Q3, reflecting sector challenges: the EPS expectation is around –$2.5, which is significantly worse than profit in the same period last year. In the previous reporting period, JinkoSolar disappointed markets by failing to meet profit forecasts, and now investors will be looking for signs of recovering demand for solar panels and improving margins. Amid volatile polyrystalline silicon prices and intense global competition in the renewable energy sector, JinkoSolar's results will signal the health of the entire solar energy sector.

Full Truck Alliance (YMM) – The Chinese online platform for freight transportation (known as "Uber for trucks") will report on Monday before market opening. A moderate quarterly result is expected: the consensus EPS forecast stands at around $0.13, slightly down from last year’s level. Investors will be interested in understanding how the slowing economic growth in China has impacted demand for freight transport and the utilization of the Full Truck Alliance platform. In previous quarters, the company consistently exceeded analysts' expectations, so the market will be keen to see if it can maintain that momentum. YMM's metrics will serve as a barometer for activity within China's logistics and e-commerce sector.

H World Group (HTHT) – The largest Chinese hotel chain (formerly Huazhu Group) will publish its financial results early in the morning. The company, which owns hotel brands in China and abroad, completed Q3 against the backdrop of a recovery in travel activity. Analysts expect earnings of around $0.60 per share, slightly above last year's figure. If the actual figures align with the forecast, this would indicate an approximate annual profit growth of +3–4%, reflecting a gradual improvement in hotel occupancy rates post-pandemic. Investors will evaluate management’s comments on domestic tourism in China and H World Group's international expansion prospects to gauge the outlook for the hotel sector in the region.

Aramark (ARMK) – The American corporation providing catering, food services, and uniforms will report for the fourth quarter of fiscal 2025 (ending September 30). The publication is expected before the trading starts in New York. Forecasts suggest Aramark will demonstrate significant profit growth: the consensus EPS is around $0.65, approximately 20% higher than last year's quarter. In recent quarters, the company has exceeded analysts' expectations amid the recovery in corporate services and uniform rental. Investors will be watching the business's margins and comments on demand from businesses, schools, and sports organizations – key clients of Aramark. Strong results may positively impact the company's stock and set the tone for the business services sector.

Brady Corporation (BRC) – The manufacturer of identification and industrial labeling solutions will report for Q1 of fiscal 2026 before the market opens. Brady operates in the US and Europe, providing labels, safety signs, and equipment for factory marking. Amid industrial growth and companies’ needs for safety management systems, stable results are expected: analysts forecast earnings around $1.17–$1.18 per share, comparable to last year’s figures. Investors will be attentive to any changes in demand from the industry – a rise in Brady's orders may signal an expansion in capital expenditures by firms, while weak sales could indicate clients' caution. The company typically holds a conference call (scheduled for 6:30 PM MSK today) where it might share forecasts for upcoming quarters.

Freightos (CRGO) – A young international online freight booking platform (of Israeli origin) will report in the morning. Freightos has been suffering from a decline in container shipping rates and overall volatility in global trade. The forecasts suggest that the company's losses will continue (expected at about –$0.08 per share) along with revenue decline. In the previous year, Freightos did not meet market expectations due to reduced demand for logistics IT services. The Q3 report will indicate whether Freightos has managed to increase transactions on its platform and reduce losses amidst stabilizing global supply chains. Investors in the logistics tech sector will be looking for signs of the company’s path to profitability.

Arbe Robotics (ARBE) – The Israeli developer of radar systems for self-driving cars and robotics will publish its Q3 results before market opening. The startup nature of the business implies that the company is still unprofitable, although revenue is increasing as new contracts are secured in the automotive sector. A quarterly loss per share of around –$0.11 is expected, a slight improvement from last year's losses. Investors will evaluate Arbe's expansion pace with auto manufacturers and its advances in producing its advanced radar chip. Any positive news (e.g., an increase in orders from car manufacturers or an improved outlook) could cause increased volatility in ARBE shares, given its small market capitalization and heightened interest in autonomous transport.

Codere Online (CDRO) – The subsidiary of the Spanish gaming operator, which conducts online betting and casino, plans to release its financial results before the US markets open (press release scheduled before 08:30 ET). Codere Online is actively expanding in Spain and Latin America. The market expects to see revenue growth from online betting and gaming, particularly following the summer sports season. In the previous quarter, the company recorded a modest revenue increase (~+1% YoY) and improved EBITDA, and now it's critical to assess whether it has succeeded in growing its customer base and transaction volumes in online casinos. CIS investors may be interested in the outlook for the online gaming business in mature European and emerging Latin American markets, as reflected in Codere Online’s results.

Gladstone Capital (GLAD) – The US investment company (business development company, BDC) will publish its financial results after the NYSE trading concludes. Gladstone Capital invests in middle-market debt instruments and pays stable dividends (yielding around 9%). The report for the fourth quarter of 2025 will show how rising interest rates have impacted interest income and the credit portfolio's quality. Analysts forecast earnings of around $0.51 per share. Investors will look for signs of resilience; a low level of borrower defaults and coverage of dividends by profit will serve as a positive signal. The GLAD report is significant in the context of the entire BDC sector and high-yield bonds, as it reflects the state of small and medium-sized businesses in the US amid expensive financing.

XP Inc. (XP) – The largest Brazilian online broker and investment platform will report late Monday evening (both Brazilian and US markets will have closed). Third-quarter data is anticipated, with key metrics being client asset growth and commission income. Amid high volatility in Brazil's financial markets, XP may have attracted new investors seeking alternatives to traditional banks. The consensus earnings forecast is around $0.50–$0.55 per share. Last week, XP Inc. pleased investors with news of record quarterly profits (e.g., in Q2 2025, the company posted record net income), which supported its stock price. The market now awaits confirmation of this positive trend. Strong results from XP could indicate the development of the financial sector in Latin America and the population's interest in investments.

LifeMD (LFMD) – The American telemedicine company with a small market capitalization will release its report after market close. LifeMD offers online medical consultations and prescription medication sales through the internet. In recent quarters, the company has shown double-digit revenue growth while expanding its subscriber base for medical subscriptions. However, the business remains unprofitable, and investors are awaiting a reduction in quarterly losses as the company scales up. The Q3 2025 report will reveal whether LifeMD has approached breakeven: metrics on profitability, average revenue per customer, and user retention rates will be crucial. The telemedicine sector is actively evolving, and any news (e.g., new partnerships or slowing growth) may significantly impact LFMD’s stock prices.

HP Inc. (HPQ) – One of the world's largest PC and printer manufacturers will report after the main trading session concludes. HP will present results for Q4 of fiscal 2025 (August–October) amid challenging industry dynamics: demand for personal computers has become unstable following the pandemic-driven surge, and competition is intensifying. Analysts expect a year-on-year revenue decline; however, investors will focus on margins and management's outlook for the upcoming year. Important topics for discussion include sales dynamics for business laptops, recovery of demand for printers, and the effects of the cost-cutting program being implemented by HP to sustain profitability. Last week, HPQ’s shares came under pressure after reports of Berkshire Hathaway cutting its stake in the company, but a strong quarterly report could restore investor confidence. A conference call featuring CEO Enrique Lores is scheduled following the report, where strategic initiatives and expectations for fiscal 2026 will be detailed.

3V Systems (III) – Also reporting is the company 3V Systems (ticker III). (Note: Data on this company is limited.) Financial results are expected to be published in the evening of November 17. Based on the ticker, the company appears to be part of an international index and may represent the technology or investment sector. Investors will review 3V Systems' report to understand its business dynamics. Although less known than some other participants on the list, 3V Systems' results may be interesting within the broader context of the relevant industry. Key financial indicators and management forecasts will be closely examined to assess the company's prospects.

Trip.com Group (TCOM) – The leading Chinese online travel agency (owner of platforms Trip.com, Ctrip, Skyscanner) will report after the US trading day has concluded (evening in New York, corresponding to the morning of November 18 in Shanghai). Trip.com is expected to see strong results for Q3 due to the active tourist season: analysts forecast earnings of around $1.0–$1.1 per share. Domestic tourism in China has continued to grow robustly, and international travel is recovering following the lifting of COVID restrictions. Investors will be keen to know how much revenue has increased from hotel and flight bookings and what the outlook is for Q4 in light of the upcoming "Golden Week" and holidays. In the previous quarter, Trip.com significantly outperformed forecasts, which led to a nearly +15% increase in its stock the following day. If the current results also exceed expectations and come with a positive forecast, it will confirm the strength of the online travel industry and the purchasing power of Chinese consumers.

Gladstone Capital (GLAD) – repeat (see above, report expected after market close).

Danaos Corporation (DAC) – One of the world's leading container ship chartering companies will present financial results after trading concludes. The Greek company Danaos owns a large fleet of container vessels, which it leases long-term to ocean carriers. Thanks to high freight rates in recent years, Danaos has reported record profits, and although rates are normalizing, significant revenue and solid cash flow are expected for Q3 2025. The consensus profit forecast is in the range of $7–$7.5 per share, indicating double-digit growth compared to last year. Investors will pay attention to updates on the company's debt, capital distribution plans (dividends, share buybacks), and comments regarding the demand for container shipping. Since Danaos' conference call is scheduled for the morning of November 18, key details may only become clear the following day, but the fundamental figures from the report will help assess the state of the global shipping industry.