Key Economic Events and Corporate Reporting for the Week of September 15-20, 2025

Overview of Key Economic Events and Corporate Earnings Reports for the Week of September 15–20, 2025. Macroeconomics, Federal Reserve Decisions, Bank of England, Bank of Japan, Inflation, and Profit Forecasts of Major Companies.

The upcoming week promises to be eventful for investors in the CIS: market attention will be focused on the decisions of several central banks, fresh macroeconomic statistics, and corporate earnings reports from major companies. With signs of easing inflation and slowing growth in global economies, investors are anticipating changes in interest rates in the U.S., the UK, Japan, Canada, Brazil, and Norway. Simultaneously, data on inflation, industrial production, and consumer demand in key economies will be released, helping to assess the state of the global macroeconomy. On the corporate front, reports from multinational corporations—from U.S. to European and Japanese firms—will provide updated profit forecasts and indicate how businesses are adapting to new market conditions. Such economic events and corporate earnings reports could significantly influence the dynamics of stock markets. Below is a structured overview by days of the week, including key events (times indicated in Moscow time) and a list of major companies releasing financial results. This will help investors focus on the main issues and respond promptly to news.

September 15, 2025 (Monday)

Morning Focus: The week will kick off with a block of significant statistics from China, likely to impact commodity markets and currencies of developing countries. The European session will be influenced by data on the Eurozone’s industrial sector. Investors will assess whether the fresh figures indicate acceleration or deceleration in growth and their potential impact on future regulatory decisions.

05:00 – China: Release of multiple indicators for August: industrial production, retail sales, fixed asset investments, real estate situation, and a press conference on economic indicators. A moderate improvement in annual retail sales growth is expected (~3.8% versus 3.7% in July), along with stable industrial production:contentReference[oaicite:0]{index=0}:contentReference[oaicite:1]{index=1}. Strong data could support commodity prices and sentiment in Asian markets, while weak statistics may heighten concerns about a slowdown in the world’s second-largest economy.
12:00 – Eurozone: Index of industrial production for July. Eurostat data will show the dynamics of industrial output in the region. Moderate forecasts are in place; following a decline in the previous month, investors are hoping for slight growth. This indicator is critical for assessing the recovery pace of the European economy.
15:30 – U.S.: Empire State Manufacturing Index for September. This serves as the first regional leading indicator for U.S. manufacturing this month. In the previous release, the index unexpectedly surged to +11.9, signaling improved conditions:contentReference[oaicite:2]{index=2}. A new decline in the index might dampen optimism regarding the U.S. manufacturing sector.
Companies Reporting: Dave & Buster’s Entertainment (a leader in the entertainment industry, S&P 400), The Hain Celestial Group (producer of organic products), Mind Medicine (biotechnology), High Tide (Canadian retailer, cannabis sector). These results will provide early indicators of corporate earnings for the week; in particular, the report from Dave & Buster’s will reveal trends in consumer spending within the leisure sector.

End of Day Focus: By the second half of Monday, markets will analyze the Chinese statistics—to what extent they met expectations—and the reactions of Asian exchanges. Investors will also begin to position themselves ahead of the key events of the week, exercising caution until clarity emerges on the future trajectory of global interest rates and trade relations.

September 16, 2025 (Tuesday)

Morning Focus: On Tuesday, attention will shift to the UK and Europe. Early morning labor market data from Britain, crucial for the Bank of England, will be released, followed by indices of economic sentiment in Europe. These metrics will help assess how the slowing global economy is affecting employment and business confidence. Investors will also prepare for a block of U.S. statistics later in the day.

09:00 – UK: Labor market report for May–July. Average wages (including and excluding bonuses) and the unemployment rate will be published:contentReference[oaicite:3]{index=3}. Unemployment is predicted to remain around 4.7%, with a steady growth of average wages at ~5% year-on-year. A strong labor market could bolster the pound, reinforcing expectations of a later easing of the Bank of England's policies, while signs of cooling (slower wage growth or rising unemployment) may weaken the British currency.
11:00 – Germany/Eurozone: ZEW Economic Sentiment Index for September. The German ZEW Institute surveys analysts and institutional investors about economic prospects. Last month, the indicator improved but remained in negative territory, reflecting pessimism. The new reading will show whether sentiment is improving in light of reduced recession risks or if caution persists. Simultaneous evaluations for Germany and a composite index for the Eurozone will be published.
15:30 – U.S.: Retail sales for August. This is a key indicator of consumer activity in the U.S. A moderate uptick is anticipated, driven by resilient household expenditures, despite existing import tariffs:contentReference[oaicite:4]{index=4}. Strong sales would indicate steady consumer demand, bolstering stock market sentiment, whereas weak figures would heighten concerns regarding a slowdown in the U.S. economy.
16:15 – U.S.: Industrial production and capacity utilization for August. The Federal Reserve publishes this data to track activity in the manufacturing sector. In the previous month, production rose by 1.4% year-on-year:contentReference[oaicite:5]{index=5}. New figures will clarify whether the growth continues. At the same time, inventory levels (for July) and the NAHB housing market index for September will be released—additional indicators of the U.S. economy's state.
Companies Reporting: Ferguson plc (a major distributor of engineering products, listed on S&P 500 and FTSE 100), Evolution Petroleum (U.S. oil and gas company), Flux Power (U.S. manufacturer of battery systems). The report from the British-American Ferguson is especially interesting: its results and commentary on demand in the construction sector will provide insight into the state of real estate in the U.S. and Europe.

End of Day Focus: By the close of trading on Tuesday, investors will evaluate whether the data from Britain confirmed the trend of rising wages and how this could impact the Bank of England's decision. U.S. retail and industrial reports will set the tone for Wall Street dynamics: resilient figures will support risk appetite, while weak results will strengthen expectations of a forthcoming rate cut by the Fed. Overall, by the end of the day, markets will enter a waiting state ahead of the anticipated "super Wednesday" of central bank decisions.

September 17, 2025 (Wednesday)

Morning Focus: Wednesday promises to be the culmination of the week. In the morning, the key inflation indicator in the UK will set the tone ahead of the Bank of England meeting. Several central bank meetings will take place during the day, the most awaited of which will undoubtedly be the long-anticipated decision from the U.S. Federal Reserve. Markets have already priced in a softening of the Fed's policies, thus investors will focus on the details and rhetoric of the regulators.

09:00 – UK: Consumer Price Index (CPI) for August. Inflation in Britain is expected to accelerate again, potentially reaching around 4% year-on-year:contentReference[oaicite:6]{index=6}, which is twice the target set by the Bank of England. Rising energy and service prices maintain pressure on households. If inflation exceeds expectations, this will increase pressure on the BoE to keep rates high for longer, while a lower index will support hopes for an imminent rate cut.
17:00 – Brazil: Central Bank of Brazil (Copom) interest rate decision. The Brazilian regulator is expected to keep the rate at 15.0% for the second time in a row:contentReference[oaicite:7]{index=7}, despite the first monthly deflation in a year occurred in August. Brazil previously halted the rate hike cycle amid currency stabilization and inflation deceleration; however, inflation (5.1% year-on-year) still exceeds the target of 3%. Copom's comments will be closely scrutinized for hints about a potential start of a rate cut cycle at the end of the year or early 2026.
17:45 – Canada: Bank of Canada press release (regular meeting). Although the rate was kept unchanged at 2.75% at the end of July:contentReference[oaicite:8]{index=8}, market participants expect updates on economic forecasts. (Note: the rate decision in Canada was announced the day before, on September 17, around 16:45 MSK, maintaining the rate at the previous level.) Focus will be on the regulator's commentary regarding inflation dynamics and the housing market in Canada.
21:00 – U.S.: FOMC Meeting of the Federal Reserve. The main event of the week will be the decision from the Federal Open Market Committee. It is widely expected that the Fed will lower the benchmark rate by 0.25 p.p., to a range of 4.00–4.25%:contentReference[oaicite:9]{index=9}, opening a cycle of monetary policy easing following a prolonged period of high rates. Investors will also receive updated economic forecasts (dot plot) from the Fed and comments on the prospects for further rate reductions. It is possible that some FOMC members will signal caution due to still elevated inflation levels and a strong labor market in the U.S. Any divergence from expected decisions or changes in tone will serve as a trigger for a surge in volatility across all markets—from the dollar to stocks.
21:30 – U.S.: Press conference by Fed Chair Jerome Powell. Approximately one hour after the decision announcement, Powell will provide clarifications on the regulator's stance. The market will pay close attention to his assessment of inflation risks and the state of the economy. More "hawkish" comments (e.g., signaling readiness to resume rate hikes with rising inflation) could strengthen the dollar and cause a correction in the stock market, while dovish rhetoric overall could imply “controlled easing” of support for the economy, leading to a positive market reception:contentReference[oaicite:10]{index=10}:contentReference[oaicite:11]{index=11}.
Companies Reporting: General Mills (food products manufacturer, S&P 500) – releases results for Q1 FY2026, with markets expecting comments on the impact of food inflation on margins; Bullish (cryptocurrency exchange, NYSE: BLSH) – will present its first report as a public company:contentReference[oaicite:12]{index=12}:contentReference[oaicite:13]{index=13}, which is interesting in the context of the digital asset market; Cracker Barrel (restaurant chain, Nasdaq), Manchester United (football club, NYSE: MANU) – reports will provide insights into consumer demand in leisure and sports; additionally, biopharmaceutical company Innate Pharma and telecommunications firm Sangoma Technologies will report. Among European companies, the report from Inditex (owner of Zara) on half-year sales is noteworthy—though published the day before, its effects will be felt on Wednesday.

End of Day Focus: By the end of Wednesday, investors will have a much clearer picture of the monetary policies of major economies. If the Fed meets easing expectations, it could trigger a global rally in risk assets, though much will depend on Powell's tone. Simultaneously, stable (or decelerating) inflation in the UK and the expected decisions from Brazil and Canada will alleviate some uncertainty. Consequently, Wednesday will be a day after which stock market and currency directions for the coming weeks will become much clearer.

September 18, 2025 (Thursday)

Morning Focus: On Thursday, attention will shift to Europe. In the morning, central bank meetings will take place, as investors anticipate decisions and signals from the Bank of Norway and the Bank of England. These regulators have already initiated a rate-cutting cycle, and are now likely to pause as they assess new inflation statistics. Additionally, Australian labor market data will be released during the Asian session, which may also influence sentiment. Overall, the morning will be dominated by assessing the implications of the Fed’s decisions and preparing for action from European central banks.

08:30 – Switzerland: Decision by the Swiss National Bank regarding interest rates (outside the CIS, but influential in the markets). Although the Swiss regulator will hold a meeting next week (September 25), investors will already begin to price in expectations. The probability of changes is low, as inflation there is close to the 2% target.
11:00 – Norway: Norges Bank interest rate decision and monetary policy report. The meeting will take place in Oslo, and it is expected that the rate will remain at 4.25% following unexpected cuts earlier in the summer:contentReference[oaicite:14]{index=14}. Norges Bank has already paused in its cuts, citing still high inflation (~4%). Any hints about future easing or, conversely, the willingness to resume rate hikes due to sticky inflation could impact the value of the Norwegian krone and investor sentiment in Scandinavian markets.
14:00 – UK: Bank of England rate decision and meeting protocol. According to polls, the BoE is expected to keep the base rate at 4.00% annually:contentReference[oaicite:15]{index=15} after a 0.25 p.p. cut in August. The acceleration of inflation to ~4% complicates the BoE's task: while the economy shows signs of improvement, inflation remains above target. Focus will be on the committee members' voting (unanimous or with dissent) and the tone of the protocol. Should the regulator hint at a pause in further rate cuts until 2026, the pound may strengthen. On the other hand, a dovish tone might reinforce expectations for a rate cut as early as November.
15:30 – U.S.: Weekly jobless claims. This leading indicator for the U.S. labor market is expected to be around ~220 thousand. As hiring slows, investors are keenly observing the rise in claims as a sign of an economic cooldown. At the same time, the Philadelphia Fed manufacturing index for September and the Conference Board leading economic index for August will be released. This data will help affirm or dispel signals of a potential recession in the U.S.
Companies Reporting: FedEx (transport giant, S&P 500) – report for Q1 FY2026 will be released after market close, showing how the business is affected by slowing global trade and U.S. tariffs:contentReference[oaicite:17]{index=17}; Lennar (largest residential developer in the U.S., S&P 500) – will report for Q3, with analysts awaiting comments on housing demand against high mortgage rates; Darden Restaurants (owner of Olive Garden chains, S&P 500) – results for Q1 FY2026 will demonstrate the trend of American spending on dining out; FactSet Research Systems (financial data and analytics, S&P 500) – will publish results for Q4; also reporting will be Scholastic Corp. publishing house and IT company Research Solutions. In Europe, the half-year earnings season continues: on Thursday, investors will monitor the market's reaction to yesterday's results from H&M (clothing retail) and other European retailers.

End of Day Focus: By Thursday’s close, global markets will be digesting the outcomes of the European central bank meetings. Expectations are confirmed: the Bank of England and Norges Bank took a pause without changing rates, which was largely priced in by the market. Investors' focus will shift to commentary: any "hawkish" notes from the BoE (e.g., concerns about high inflation) are likely to influence the pound and the British banking sector stocks. In the U.S. market, volatility may be prompted by the reports of FedEx and Lennar, released after the close; their profit forecasts reflect the state of trade and real estate. Additionally, a technical factor: a "quadruple witching" (expiration of futures and options) is expected on Friday, thus increased trading volumes and position reshuffling may arise on Thursday.

September 19, 2025 (Friday)

Morning Focus: The week's final day will start with news from Asia. The Bank of Japan's meeting has concluded, and investors will analyze its outcomes in the context of the already known decisions of the Fed and BoE. Friday will also be marked by technical factors in the markets – on this day, quarterly derivative expiration occurs, which might temporarily boost trading volatility. Overall, few new macroeconomic releases are planned, and markets will concentrate on digesting all information obtained during the week.

06:30–07:30 – Japan: Bank of Japan monetary policy decision (outcomes of the two-day meeting). Forecasts indicate that the BOJ has maintained the key short-term rate at +0.5% and the yield on 10-year government bonds around 1.0%, continuing its ultra-loose policy:contentReference[oaicite:18]{index=18}. Bank of Japan Governor Kazuo Ueda will express cautious optimism regarding the resilience of the economy during the press briefing (at 09:30 MSK), hinting that the regulator is closely examining the impacts of recent U.S. tariffs and yen dynamics on prices:contentReference[oaicite:19]{index=19}. Markets are seeking clues about when the BOJ might resume rate hikes—some economists expect a decision as early as October or December. Lack of signals for policy tightening may weaken the yen, while more decisive comments regarding tightening could lead to an appreciation of the yen and a sell-off in Japanese stocks.
12:00 – UK: Retail sales turnover for August (excluding fuel). Although no major macro data from the U.S. and Europe is scheduled for Friday, British retail sales statistics may attract attention following the inflation data and the BoE’s decision. A slight increase in sales is anticipated after a decline in July, but consumer sentiment remains subdued due to high living costs. A surprisingly strong report would be a positive for the pound and British retail stocks, while a weak result would heighten recession fears in the UK.
17:00 – U.S.: University of Michigan Consumer Sentiment Index (preliminary estimate for September). Following a turbulent week, this indicator will provide on-the-ground insights into American consumer sentiment. A slight decrease in the index is expected, from 69.5 to around 68 points amid rising gasoline prices and general uncertainty. A sharp deviation in the indicator could have short-term impacts on U.S. stock market, particularly in the retail sector.
Companies Reporting: MoneyHero Group (fintech platform, Hong Kong/NYSE) – will present financial results, relevant in the context of digital financial services in Asia. No other large reports are scheduled for the day, so investors' attention will be dispersed: some will analyze the week’s outcomes, while others will begin preparing for events in the following week.

End of Day Focus: On Friday, markets will summarize one of the most significant weeks of the year. "Quadruple witching" (expiration of futures and options on stocks and indices) in the afternoon may lead to spikes in volumes and price movements; however, investors' strategic focus will be on the main outcomes of the week. The Fed's decision to cut rates, maintained rates by central banks in Europe and Asia, as well as signals from corporate earnings reports (FedEx, General Mills, and others) will create the overall picture. If macroeconomic data and regulator comments meet expectations, there could be an increase in risk appetite and a strengthening of global stock markets. Conversely, heightened volatility may occur as market participants reassess risks (including potential trade negotiations between the world's largest economies amid new tariff disputes). Nevertheless, wrapping up the week, investors will gain significantly more clarity regarding the trajectory of rates and the state of the economy, allowing them to adjust their strategies for the near future.