Economic Events and Corporate Reports for November 6, 2025: PMI for Japan and Russia, Germany's Industrial Production, Currency Operations of the Bank of Russia, Bank of England Rate Decision, US Unemployment Claims, Ivey PMI for Canada, and Major Corporate Earnings Reports from the US, Europe, Asia, and Russia. Key Takeaways and Highlights for CIS Investors.
03:30 MSK – Japan: Services PMI and Composite PMI for October
Early in the morning, data will be released on Japan's Services PMI and Composite PMI for October. Previous indicators pointed to a slowdown in growth: according to preliminary estimates, the Services PMI decreased to approximately 52.4 points in October from 53.3 in September. This figure remains above the 50 threshold, indicating expansion in activity, but the growth rate in services has noticeably weakened. The Composite PMI dropped to around 50.9, marking the lowest level in five months, reflecting simultaneous stagnation in industry (where PMI is below 50) and a slowdown in services. These macroeconomic events are significant for Asian markets: a slowdown in the Japanese economy may impact investor sentiment in the region and currency rates. However, the moderate expansion in the services sector signals that Japan’s domestic economy still maintains a positive momentum. Investors should consider how the resilience of the Japanese services sector supports economic recovery, while weakness in industry restrains overall growth.
09:00 MSK – Russia: Services PMI and Composite PMI for October
In the morning, data will be released for Russia's Services PMI and Composite PMI for October. The previous month experienced a sharp decline: in September, the Services PMI plummeted to 47.0 points from exactly 50.0 in August, signaling the onset of a downturn and the lowest level since 2022. A PMI value below 50 indicates a contraction in business activity, and the September drop reflected a contraction in new orders and consumer demand. The Composite PMI (services + industry) also fell to 46.6 points in September, emphasizing the general difficulties in the economy. The October data will reveal whether the deterioration continued or there was stabilization. If the macroeconomic indicators remain weak (below 50), this will confirm ongoing pressure on Russian businesses, ranging from reduced domestic demand to the effects of sanctions. Conversely, any signs of PMI returning above 50 would be a positive signal for Russian markets. It is crucial for investors in the Russian stock market to track these indicators, as they reflect overall market conditions and can influence expectations regarding the CBR policy and corporate profits.
10:00 MSK – Germany: Industrial Production for September
In the afternoon, statistics on Germany's industrial production for September will be released. This is a significant indicator of the health of the Eurozone economy, especially following concerning data for August. For context, German industrial output fell by 4.3% m/m in August— the largest monthly drop in more than three years. This decline was partly due to one-off factors (a drop in car production due to holidays and model changes), but it heightened recession risks in Europe’s largest economy. Analysts expect a technical rebound in September: data on new industrial orders showed an increase of approximately 1.1% m/m, raising hopes for a slight recovery in output. Nevertheless, even with growth in September, the indicator is unlikely to return to summer levels. Investors should assess the trend: prolonged declines in industrial production worsen the outlook for companies in the industrial sector and may exert downward pressure on European markets. If the report exceeds expectations, it could support the euro and shares of cyclical companies in the EU.
12:00 MSK – Russia: Currency Transactions by the Central Bank of Russia (November)
At noon, the Bank of Russia will release its planned volumes of foreign currency purchases or sales on the domestic market as part of the fiscal rule for the current month. This data is critical for understanding the regulator's policies and their potential impact on the ruble. In the previous period (October 7 – November 6), the CBR sold foreign currency daily at an equivalent of 5.3 billion rubles as part of interventions. For November, the sale volume is reduced to 4.2 billion rubles per day, indicating a slight easing of budget pressure or the regulator's desire to reduce intervention in the currency market. This signals to investors that with the stabilization of oil prices and budget revenues, the need for active currency interventions diminishes. If the CBR announces even lower transaction volumes or currency purchases (“+”), it may strengthen the ruble; however, an increase in sales (“–”) typically indicates support for currency supply and may exert downward pressure on the ruble’s exchange rate. Overall, the transparency of the Central Bank's (CBR) currency actions allows the market to predict liquidity and exchange rate dynamics, making this information essential for CIS market participants in their strategies.
15:00 MSK – United Kingdom: Bank of England Rate Decision
A key event for European markets is the Bank of England (BoE) meeting. At 15:00 MSK, the rate decision will be announced. In light of declining inflation in the UK (3.8% annually – still the highest among developed countries) and signs of weakness in the labor market, the regulator is likely to take a pause in easing policy. Recall that the BoE has already lowered rates multiple times since the peak in 2024— at the last meeting in August, the rate was reduced to 4%. The consensus forecast among economists suggests that this time the rate will remain unchanged at 4.0%. However, opinions differ: a smaller group of analysts expects one further decrease of 0.25 pp. (to 3.75%), given the unexpectedly weak inflation and rising unemployment. Market expectations assess the probability of a cut at about “1 in 3”— that is, the rate is likely to remain unchanged, although a surprise cannot be entirely ruled out. For markets, this suggests potential volatility in the British pound and stocks: maintaining the rate at the current level has already been accounted for by investors, while a reduction would signal a “dovish” sentiment that could lead to bond price increases and pound depreciation. Therefore, investors in British and European assets are advised to closely monitor the BoE's rhetoric: even if the rate remains unchanged, commentary on prospects for future monetary policy will be critical.
17:15 MSK – United Kingdom: Speech by the Governor of the Bank of England
Shortly after the decision, a press conference and speech by the Bank of England Governor, Andrew Bailey, will take place at approximately 17:15 MSK and attract the interest of analysts and investors. During the speech, Bailey will explain the rationale behind the regulator's decision and present an updated economic and inflation forecast (the November meeting is accompanied by the release of the quarterly report on monetary policy). It is crucial for investors to capture the tone of the Governor's statements. If Bailey emphasizes “hawkish” risks—for instance, expressing concern over still-high core inflation or salaries—the market may interpret this as a signal for a slower rate decline in the future. Conversely, focusing on economic slowdown, rising unemployment, and the need to support growth would signal a “dovish” tone. Participants will specifically look for hints at possible rate cuts in the coming months. Any such remarks could immediately impact the pound’s dynamics and the UK’s FTSE stock index. Russian investors following global trends should also pay attention: the policies of major central banks (the US Fed, ECB, BoE) affect risk appetite across all markets and indirectly—on the demand for emerging market assets.
16:30 MSK – USA: Initial Jobless Claims
In the second half of the day, weekly unemployment data from the USA will be released— the number of initial jobless claims (Initial Jobless Claims) for the past week. This timely indicator allows tracking the state of the American labor market almost in real-time. In recent weeks, the indicator has remained relatively low at around 220,000–230,000 claims, reflecting a still-resilient although gradually cooling labor market. The current week's forecast stands at about 225,000 claims, corresponding to the long-term pre-pandemic average. If the actual number deviates significantly— for example, an increase in claims signals a rise in layoffs— this may intensify expectations for Fed easing policy and lead to positive movements in the stock markets (as labor market weakness reduces inflationary pressures). However, a sharp surge in claims (>250,000) would alarm investors regarding potential economic slowdown in the USA. Conversely, another decline in claims (below 210,000) would confirm ongoing tightness in the labor market, which could strengthen the dollar and dampen risk appetite, as the Fed would need to maintain a tight policy for longer. Thus, even this weekly report can induce short-term movements on the currency and stock markets: exchanges will react to it through the lens of future Federal Reserve actions.
18:00 MSK – Canada: Ivey PMI for October
At the end of the day, the Ivey PMI (Association of Purchasing Managers) for Canada for October will be released. The previous release surprised the markets: in September, the Ivey PMI surged to 59.8 points from 50.1 in August, reaching a 16-month high. Such a sharp increase indicated a rapid expansion of business activity and improvement in conditions in both the manufacturing and services sectors. Investors now wish to understand how sustainable this surge was. A slight decline in the index is expected for October (to around ~55 points) as a normalization follows the strong growth in September. A PMI value above 50 will still indicate economic expansion. For the market, this is important, as confirming strong business activity may support the Canadian dollar and stocks of Canadian companies, especially in the finance and resource sectors. Conversely, if the index unexpectedly adjusts closer to 50 or below, doubts about the sustainability of Canada’s economic momentum may arise. In the context of global markets, Canadian data may not exert as strong an effect as statistics from the USA or China; however, they augment the overall picture of North American economic health. Investors are advised to monitor this release, particularly those dealing in commodity markets and currency pairs with CAD, as Canada is a major exporter of raw materials, and activity in its economy influences demand for oil, gas, and metals.
Quarterly Corporate Reports (Published on November 6)
In addition to the macro data, on November 6, investors can expect a whole wave of corporate earnings reports— many major public companies across various sectors and regions will publish their quarterly (and some annual) results. Below is a list of key reports for the day, divided by publication time— before the US market opens and after it closes— with a brief description of what to focus on.
Before Market Open (Pre-Market)
- Celsius Holdings (CELH) – a manufacturer of energy fitness drinks, whose shares have surged in recent years due to explosive revenue growth. The company's report for Q3 will reflect whether Celsius can maintain high market expansion rates in sports drinks and preserve margins. Investors are particularly interested in sales growth figures (double-digit % y/y expected) and plans for global distribution expansion.
- D-Wave Quantum (QBTS) – an innovative Canadian/US company engaged in quantum computing. Although its capitalization is small, D-Wave's results attract the attention of technology enthusiasts. Quarterly figures will be published: volume of orders for quantum solutions, trajectory of losses, and cash reserves. The report will show whether commercialization of quantum services is progressing. Market reaction will depend on how close the company is to monetizing its developments.
- ConocoPhillips (COP) – an oil and gas giant listed in the S&P 500. The quarterly report of COP, published before the session starts, will serve as an indicator of the oil industry's condition. Analysts expect a revenue growth of approximately 7% y/y amid relatively high oil prices. Investors will be focused on production volumes, cash flow, and comments on capital return plans to shareholders (dividends, buybacks). A critical point: the results of ConocoPhillips could set the tone for the entire energy sector in the US market.
- BCE Inc. (BCE) – Canada’s largest telecommunications company (owner of Bell Canada). BCE's Q3 results will demonstrate the resilience of the telecom business: revenue dynamics from mobile and media services, growth in subscriber bases, and infrastructure spending will be scrutinized. Investors are interested in BCE's ability to generate stable cash flow to finance generous dividends amid high competition and costs of 5G networks.
- Oscar Health (OSCR) – a tech-driven health insurance company (insurtech) from the USA. The report prior to market open will shed light on successes in reducing losses and growing the number of insured. Previously, the startup faced high expenses and has yet to reach profitability, so a pivotal metric will be the loss ratio on insurance plans and the trajectory of decreasing operational losses. Investors will assess how effectively OSCR controls costs and moves towards profitability.
- Vista Energy (VIST) – an oil and gas company with assets in Latin America (Argentina), traded on the NYSE. Vista Energy has already reported robust growth in production and profits in 2025. Quarterly results will provide fresh figures on oil/gas production and exports. Also on the agenda is capital expenditure (CAPEX) plans and dividends. Given relatively high oil prices, Vista's report is likely to showcase stable cash flow. CIS investors watching the oil and gas sector should pay attention to such regional players against the backdrop of the global energy market.
- AstraZeneca (AZN) – a British-Swedish pharmaceutical giant (part of Euro Stoxx 50). Before the opening of European markets, AstraZeneca will present its financial results for Q3 and the first nine months of 2025. The company is demonstrating stable growth due to a wide portfolio of drugs. Investors will be looking for revenue growth in key segments (oncology, cardiology, etc.), sales of flagship drugs (Tagrisso for lung cancer, Farxiga for diabetes and heart failure, etc.), and an updated forecast for annual revenue. AstraZeneca previously aimed to increase annual revenue to $80 billion by 2030— current reports show progress towards this target. For investors, margin metrics and R&D expenses are also vital: AstraZeneca is renowned for its extensive pipeline, so news about new drug approvals or successes in clinical trials could accompany the financial report.
- Datadog (DDOG) – an American cloud company (SaaS) in the high-tech sector specializing in monitoring and securing IT infrastructure. The quarterly report from Datadog is highly anticipated in the tech sector: the company is part of the Nasdaq-100 and is considered a barometer of demand for cloud services. Investors will look for revenue growth (expected ~20-25% y/y) and the number of major clients, as well as management's forecast. Last quarter, DDOG mildly disappointed the market with a cautious outlook, so it is now important to confirm robust demand amid IT budget optimization. If the company's report exceeds expectations and forecasts are raised, this could trigger a rally in its stocks in pre-market.
- Aspen Aerogels (ASPN) – a small innovative US company producing aerogel insulation materials (for energy, construction, electronics). Aspen Aerogels' results are notable in the context of new technologies: demand for its products is growing due to the shift towards energy efficiency and electric transportation (aerogels are used in EV batteries). The quarterly report will show revenue trends (previously it grew in double figures) and, importantly, the extent of losses, as the firm is still in the growth investment phase. If losses decrease and sales exceed forecasts, it would enhance sentiment around the stock.
- Warner Bros. Discovery (WBD) – a media conglomerate including the Warner Bros. film studio and Discovery (cable channels, HBO Max streaming). The WBD report prior to market open will provide insights into the media industry's status. Key metrics include the number of subscribers to streaming services, revenue from films released in the third quarter, and whether profitability has been achieved post-merger between Warner and Discovery. Investors are also keen on management’s comments regarding prospects for new content and monetizing popular franchises. Warner Bros. Discovery’s results could impact the entire entertainment sector, including Disney and Netflix, setting the tone regarding trends in streaming video and traditional TV.
After Market Close
- The Trade Desk (TTD) – an American advertising technology platform (programmatic advertising). The report will be released after US trading hours and will be closely examined, as TTD is a leader in digital advertising. Continued double-digit growth in revenue is expected, driven by the reallocation of advertising budgets online. Investors will look into segmental performance (CTV – connected TV, video, mobile ads) and commentary on the advertising market's condition. An important aspect will be guidance for the next quarter (including the holiday season): a strong forecast could uplift stock prices and the entire adtech sector.
- Opendoor Technologies (OPEN) – an American proptech startup focused on online buying and selling of residential real estate (iBuyer model). Results for Q3 will be released after trading and considering the difficult situation in the US housing market (rising mortgage rates, slowing sales), they could be weak. The company will likely show revenue drops and continued losses as transaction volumes decline. Investors will be keen to see how well Opendoor is offloading accumulated homes and cutting expenses. Any signs of improved margins or stabilized demand on the platform would be viewed positively, whereas any extension of losses would increase pressure on the stock.
- Iris Energy (IREN) – an Australian-Canadian company involved in cryptocurrency mining (Bitcoin) using renewable energy. The quarterly report will reveal insights about BTC mining volume, mining cost, and financial performance amid crypto market volatility. Investors will focus on production metrics (amount of Bitcoin mined) and profitability, especially given Bitcoin's recent price surge in October. If Iris Energy has managed to increase its hash rate and decrease per-unit costs, it will strengthen confidence in its business model. However, the high volatility of crypto assets makes its stocks risky—markets could react strongly to both positive surprises (profit) and deteriorating financials.
- MP Materials (MP) – an American mining company developing the Mountain Pass rare earth metal deposit. Rare earth elements are critical for electronics and electric vehicles. The report after market close will reveal mining and processing volumes, revenue from concentrate sales, and progress on in-house processing projects (to reduce dependence on China). Investors are expecting updates on the construction of processing facilities and possibly comments on partnerships with Tesla and other consumers. The company is financially stable (profitable, with good margins), so the primary focus is on future plans and the state of rare earth oxides prices.
- SoundHound AI (SOUN) – a young company in artificial intelligence specializing in voice recognition and assistant technologies. Its quarterly report will reveal the commercial traction of SoundHound's AI solutions. Key points include revenue growth (still modest), new contracts with automakers and smart device companies, and loss levels. Given the hype around AI in 2023–2025, investors want to see if this enthusiasm translates into actual sales. Improved metrics (such as reduced EBITDA losses, expanded client base) would support the stock, whereas stagnation may trigger sell-offs, considering the high volatility of such stocks.
- DraftKings (DKNG) – one of the leading US companies in online betting and sports wagering. DraftKings' Q3 results (to be published after market close) are expected to confirm the ongoing boom in online betting in the USA. Significant revenue growth is anticipated as the company actively expands into new states and increases its user base. Investors will assess metrics such as monthly active users (MAUs), average revenue per user, marketing spending, and the trajectory of reducing losses. In the previous quarter, DraftKings improved its annual forecast and minimized losses more than expected, which led to a rally in its stock. If this positive trend is confirmed, DKNG shares may continue to rise. However, the industry is competitive (with FanDuel, etc.), so any comments on market share and customer retention strategy are crucial.
- NuScale Power (SMR) – an American company developing small modular nuclear reactors (SMR). The NuScale project is interesting as potentially revolutionary in energy, but the company is still in the R&D phase and has yet to generate revenue. Its quarterly report (after market close) will predominantly report on cash expenditures, progress in obtaining licenses and orders. Investors are looking for news on potential customers and partners, as well as updates on the timelines for constructing the first station. A significant event was the recent agreement with Romania’s Nuclearelectrica and funding from the US government—details may emerge in the report. SMR stocks are volatile and react more to news than financial metrics, so for investors, any positive signals regarding the commercialization of NuScale technologies are paramount.
- Innodata (INOD) – a small American IT company engaged in data processing, annotation, and AI services. In Innodata's report, investors will look for revenue growth, particularly in the AI annotation segment, where the company collaborates with major tech clients. Profitability is also under scrutiny: the question is whether the company can remain profitable or at least close to breakeven. Innodata’s stock has soared in 2023 amid the AI frenzy, so justifying this enthusiasm with tangible financial results is crucial. If the figures are weaker than expected, a significant correction in stock prices may follow the report.
- Archer Aviation (ACHR) – a California startup developing electric air taxis (eVTOL). Archer's quarterly report will be released late in the evening, and, like many pre-revenue companies, it will primarily reflect development costs. However, the company recently made progress—conducting test flights of its Midnight craft, obtaining investments from Stellantis and others, and planning to launch air taxi service in 2025–2026. Investors are looking for updates on FAA certification, production status, and orders (previously, Archer had preliminary orders from United Airlines). Financially, the key details are the cash balance and “cash burn” for the quarter to understand how long the company can sustain its capital before launching commercially. Any announcements regarding partnerships or testing successes could overshadow purely financial figures in market perception.
- Airbnb (ABNB) – a large American company leading in the online booking market for traveler accommodations (homesharing). Airbnb's results will be released after the main market closes, but they will be among the most discussed. Q3 includes the summer vacation season, usually the most profitable for Airbnb, so investors are anticipating strong performance: record revenue and high profits. The consensus expects revenue growth supported by steady demand for short-term rentals worldwide, despite economic fluctuations. Important metrics include gross booking value (GBV), number of nights booked, and average booking cost. In the previous quarter, Airbnb also announced a stock buyback program, and investors will monitor its impact on earnings per share. Additionally, market participants will await management's comments on trends for 2026: whether the trend toward remote work and "digital nomads" continues to stimulate long-term bookings and how the company adapts to rising competition (from traditional hotels and local platforms). Considering Airbnb's significance, its earnings report could influence the entire tech sector and the tourism industry in upcoming sessions.
Other International Reports (Europe, Asia, Russia)
In addition to those listed, there are important corporate earnings events occurring on this day in other regions, which are also worth monitoring:
- Nissan Motor (Japan) – a major automaker (part of the Nikkei 225 index) will publish financial results for the first half of the 2025 fiscal year. Last week, Nissan revised its forecast and now expects an operating loss of around ¥275 billion for the entire fiscal year, mainly due to high tariffs in the US and tough competition in the market. For the first half (April–September), the company has preliminarily estimated a net loss of ¥230 billion—these figures will be confirmed in the report on November 6. Investors will assess the impact of both declining sales (especially in China and the US) and rising costs on Nissan. Progress in Nissan’s restructuring plan will also be of interest: the company is cutting costs, updating its model lineup, and betting on electric vehicles. Any signs of improvement in Q2 (July–September)— for example, a reduction in losses compared to Q1— could somewhat restore confidence that crisis measures are yielding results. However, the overarching situation is expected to remain challenging, and markets will primarily react to management's forecasts on when Nissan will return to profitability.
- RUSAL (Russia) – one of the world’s largest aluminum producers, whose shares are traded on the Moscow Exchange and Hong Kong. On this day, RUSAL's board of directors will hold a meeting (convened for November 6, 2025), where they will discuss recommendations for an extraordinary meeting of shareholders (likely also concerning profit distribution and strategy). Typically, in early November, RUSAL also publishes operational results for Q3 (aluminum and alumina production, sales dynamics) and may disclose financial figures for the first nine months. Investors expect signals from the company regarding exports: due to the pivot to Asian markets and recovering aluminum prices, RUSAL’s financial results for the reporting period may have improved. The intrigue involves a possible resumption of dividend payments; any recommendation regarding this from the board will be a strong driver for the stock. Comments from management regarding the influence of electricity and raw material prices on cost and the outlook for demand in China (the largest consumer of aluminum) are also crucial. For investors in the Russian market, RUSAL’s report will serve as a barometer for the mining and metallurgical sector, while the board's decisions will guide corporate governance and shareholder returns.
Conclusion
November 6, 2025, is shaping up to be a day rich with critically important information for all investor categories. The combination of significant macroeconomic events (PMI, unemployment data, central bank decisions) and a broad range of corporate earnings reports creates the ground for elevated volatility in the markets. Consequently, investors from the CIS and other regions should approach trading on this day with caution and a prepared action plan. It is recommended to:
- Carefully monitor the released indicators (especially PMI and labor market statistics) and the reaction of global markets to them. This will help adjust tactics: for instance, robust data from the USA may strengthen the dollar and pressure commodity assets, while “soft” signals from central banks could support stocks and bonds.
- Analyze corporate earnings reports not only by headlines but also in detail. During a period of mass publications, it is essential to distinguish one-time factors from sustainable trends. A special focus should be on management's forecasts for future periods— these often move prices more than the figures from the past quarter.
- Diversify risks and avoid excessive concentration on a single event. A portfolio balanced across asset classes and regions can mitigate the impact of negative surprises (whether macro data or a weak report). For instance, a combination of stocks from various sectors (technology, commodities, finance) and the presence of defensive assets will help endure potential short-term fluctuations.
- Maintain focus on long-term strategy. Despite the abundance of news, one should not succumb to impulsive decisions. Markets can react sharply to fresh information, but for a composed investor, the overall trend is more important. Assessing fundamental signals (economic growth rates, trends in company profitability, actions of central banks), more measured decisions can be made without Chasing short-term speculative movements.
In conclusion, November 6 promises to be rich in insights. A savvy investor who evenly considers both the macroeconomic background and the results of corporate earnings will be able to benefit from this stream of information. Whether it is portfolio adjustments or seeking new opportunities during downturns, the key is to maintain discipline and focus on primary investment objectives. By observing the day's events and their impact on markets, investors from the CIS will gain valuable experience and data for making future decisions. The path to success lies in a blend of analysis and poise: this overview will help prepare for November 6, but the ultimate outcome depends on the skillful application of this information in practice.
