Economic Events and Corporate Reports for 6 November 2025: Japan and Russia's PMI, Germany's Industrial Production, Bank of Russia's Currency Operations, Bank of England's Rate Decision, US Jobless Claims, Ivey PMI Canada, and Major Company Earnings from the US, Europe, Asia, and Russia. Key Takeaways for CIS Investors.
03:30 MSK — Japan: Services PMI and Composite PMI for October
Early morning will bring data for Japan's Services Purchasing Managers' Index (Services PMI) for October, along with the Composite PMI that encompasses both sectors. Previous figures indicated a slowdown in growth: according to preliminary estimates, the Services PMI fell to approximately 52.4 points in October from 53.3 in September. Despite remaining above the 50 threshold, indicating expansion, the growth pace in services has significantly weakened. The Composite PMI dropped to around 50.9, a five-month low, reflecting simultaneous stagnation in the industrial sector (where PMI is below 50) and a slowdown in services. These macroeconomic events are significant for Asian markets: the slowdown in Japan's economy could impact investor sentiment in the region and currency exchange rates. However, moderate expansion in the service sector signals that Japan's domestic economy still maintains a positive trajectory. Investors should note that the resilience of Japan's service sector supports economic recovery, while the weakness in manufacturing holds back overall growth.
09:00 MSK — Russia: Services PMI and Composite PMI for October
In the morning, indicators for Russia's business activity in the services sector (Services PMI) and Composite Index (Composite PMI) for October will be released. Last month showed a sharp decline: in September, the Services PMI plummeted to 47.0 points from exactly 50.0 in August, marking the onset of a downturn and the lowest level since 2022. A value below 50 indicates a contraction in business activity, and the September drop reflected a decrease in new orders and consumer demand. The Composite PMI (services + industry) also fell to 46.6 points in September, emphasizing the overall challenges in the economy. Data for October will show whether the decline continues or stabilisation has occurred. If the macroeconomic indicators remain weak (below 50), it will confirm persistent pressure on Russian businesses – from declining domestic demand to the consequences of sanctions. Conversely, any signs of PMI returning above 50 would be a positive signal for Russian markets. Investors in the Russian exchange should monitor these indicators, as they reflect the overall market conditions and can impact expectations regarding the Central Bank's policies and corporate earnings.
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 alarming data from August. Recall that in August, the volume of German industrial output fell by 4.3% m/m – the largest monthly drop in over three years. Such a downturn was partly attributed to one-off factors (a slowdown in car production due to holidays and model changes); however, it heightened recession risks in Europe's largest economy. Analysts expect a technical rebound in September: data on new industrial orders for September showed a growth of approximately 1.1% m/m, raising hopes for a slight revival in output. Nevertheless, even with growth in September, it is unlikely the figures will return to summer levels. Investors should evaluate the trend: prolonged declines in industrial production worsen the outlook for companies in the manufacturing sector and may pressure European markets. If the report exceeds expectations, it will support the euro and the shares of cyclical companies in the EU.
12:00 MSK — Russia: Central Bank of Russia's Currency Operations Volumes (November)
At noon, the Bank of Russia will publish the planned volumes of foreign currency purchases or sales in the domestic market within the framework of the fiscal rule for the current month. This data is crucial for understanding the regulator's policies and their potential influence on the rouble. In the previous period (7 October – 6 November), the central bank sold foreign currency daily at an equivalent of 5.3 billion RUB as part of the interventions. For November, the sales volume has been reduced to 4.2 billion RUB per day, indicating a slight easing of pressure on the budget or the regulator's desire to lessen its intervention in the currency market. For investors, this signals that with stabilising oil prices and budget revenues, the need for active currency interventions is decreasing. If the central bank announces even lower operation volumes or a purchasing operation (“+”), this could strengthen the rouble, while increased sales (“–”) typically provide currency supply support and may exert downward pressure on the rouble's exchange rate. Overall, the transparency of the Central Bank of Russia's (CBR) actions regarding currency allows the market to forecast liquidity and exchange rate dynamics; thus, market participants in the CIS should incorporate this information into their strategies.
15:00 MSK — United Kingdom: Bank of England's Interest Rate Decision
The key event of the day for European markets is the Bank of England (BoE) meeting. At 15:00 MSK, the decision on the interest rate will be announced. Against a backdrop of declining inflation in the UK (3.8% annually – still the highest among developed countries) and signs of a weakening labour market, the regulator is likely to pause its monetary easing. Recall that the BoE has already lowered the rate multiple times from its peak in 2024; at the last meeting in August, the rate was lowered to 4%. The consensus forecast from economists suggests that this time the rate will remain unchanged at 4.0%. However, opinions are divided; a minority of analysts expect one further reduction of 0.25 percentage points (to 3.75%), considering the unexpectedly weak inflation and rising unemployment. Market expectations assess the probability of a reduction as about “1 in 3” – suggesting that the rate will likely remain unchanged, though a surprise cannot be entirely ruled out. This situation implies potential volatility in the British pound and equities: maintaining the rate at its current level is already factored in by investors, while a reduction would be seen as a “dovish” signal that could trigger a rise in bond prices and a weakening of the pound. Therefore, it is advisable for investors in UK and European assets to closely monitor the BoE's rhetoric: even with an unchanged rate, comments regarding future monetary policy prospects are crucial.
17:15 MSK — United Kingdom: Speech by the Governor of the Bank of England
Shortly after the announcement of the decision, there will be a press conference and a speech by the Governor of the Bank of England, Andrew Bailey. This event is expected to begin at around 17:15 MSK and will attract significant attention from analysts and investors. During his speech, Bailey will clarify the motives behind the regulator's decision and present an updated economic and inflation forecast (by the way, the November meeting is accompanied by the release of the quarterly monetary policy report). It is critically important for investors to grasp the tone of the central bank head's remarks. If Bailey emphasizes “hawkish” risks – for instance, expressing concern over the still high core inflation or wages – the market could interpret this as a signal for a slower pace of rate cuts in the future. Conversely, a focus on economic slowdown, rising unemployment, and the need to support growth would be received as a “dovish” tone. Specifically, participants will be looking for hints regarding potential rate cuts in the coming months. Any such comments could immediately affect the pound's dynamics and the British FTSE index. Russian investors, following global trends, should also take note: the policies of major central banks (US Federal Reserve, ECB, BoE) influence risk appetite across all markets and indirectly affect the demand for emerging market assets.
16:30 MSK — United States: Initial Jobless Claims
In the latter half of the day, weekly jobless claims data from the US – the number of initial jobless claims (Initial Jobless Claims) for the last week – will be released. This prompt indicator allows tracking the state of the American labour market in almost real-time. In recent weeks, the figure has remained at a relatively low level of approximately 220–230 thousand claims, reflecting a still robust, although gradually cooling, job market. The forecast for the current week is around 225 thousand claims, which aligns with the long-term pre-pandemic average. Any significant deviation from the actual number – for example, a rise in claims signalling increased layoffs – could bolster expectations for a dovish shift in the Federal Reserve's policy and provide a positive impact on stock markets (as weakness in the labour market reduces inflationary pressures). However, too sharp a rise in claims (>250 thousand) may alarm investors about a possible US economic slowdown. Conversely, another decrease in claims (below 210 thousand) would affirm ongoing tightness in the labour market, potentially strengthening the dollar and cooling risk appetite, as the Fed would need to maintain its tight policy for longer. Thus, even this weekly report could trigger short-term movements in the currency and equity markets: exchanges will react through the lens of future Federal Reserve actions.
18:00 MSK — Canada: Ivey PMI for October
To conclude the day, the Ivey Purchasing Managers' Index (PMI) for Canada for October will be released. The previous release surprised markets: in September, 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 improved conditions in both the manufacturing and service sectors. Investors now seek to understand how sustainable this surge was. A slight decrease in the index is expected for October (to around ~55 points) as it normalises after the strong growth in September. A PMI value above 50 will still indicate economic expansion. This is important for the market, as affirmation of strong business activity could support the Canadian dollar and the shares of Canadian companies, particularly in the financial and resource sectors. On the other hand, if the index unexpectedly corrects closer to 50 or below, doubts will arise regarding the sustainability of Canada's economic momentum. In the context of global markets, data from Canada may not exert as strong an effect as statistics from the US or China; however, they complete the overall picture of the health of the North American economy. Investors are advised to track this release, especially those working with commodity markets and currency pairs involving CAD, as Canada is a major exporter of raw materials, and the activity in its economy influences demand for oil, gas, and metals.
Quarterly Company Reports (Released on 6 November)
In addition to macro data, on 6 November, investors will witness a deluge of corporate earnings – many large public companies from various sectors and regions will publish their quarterly (and some annual) results. Below is a list of key reports for the day, broken down by publication time – before the opening of the US market and after the close – with a brief description of what to pay attention to.
Before Market Opens (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 earnings report for Q3 will reflect whether Celsius is managing to maintain high market expansion rates for sports drinks while retaining profitability. Investors are keen on sales growth figures (double-digit % y/y is expected) and plans for global distribution expansion.
- D-Wave Quantum (QBTS) – an innovative company from Canada/US engaged in quantum computing. Although its market capitalization is small, D-Wave's results capture the attention of tech enthusiasts. Quarterly metrics will include order volumes for quantum solutions, loss trajectory, and cash reserves. The report will demonstrate how far the company is progressing towards monetising its quantum services. Market reaction will depend on how close the company is to monetising its developments.
- ConocoPhillips (COP) – an oil and gas giant listed in the S&P 500. The quarterly report, published before the session starts, will serve as an indicator of the oil industry's health. Analysts predict approximately 7% y/y revenue growth amid relatively high oil prices. Investor focus will be on production volumes, cash flow, and comments regarding shareholder capital return plans (dividends, buybacks). An important point: ConocoPhillips's results may 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 earnings report will demonstrate the resilience of the telecom business: revenue dynamics from mobile and media services, growth in the subscriber base, and infrastructure expenses. Investors are interested in BCE's ability to generate stable cash flow to finance generous dividends amidst high competition and costs associated with 5G networks.
- Oscar Health (OSCR) – a technologically advanced health insurance company (insurtech) from the US. The pre-market report from Oscar Health will shed light on its success in reducing losses and growing the insured population. Previously, the startup struggled with high expenses and had yet to achieve profitability, so the key metric will be the loss ratio for insurance plans and the trajectory of operational loss reduction. Investors will assess how successfully OSCR is controlling costs and progressing towards breakeven.
- Vista Energy (VIST) – an oil and gas company with assets in Latin America (Argentina), whose shares are traded on the NYSE. Vista Energy has already reported strong growth in production and profits in 2025. The quarterly results will provide updated figures on oil/gas production and export. Also on the agenda are capital expenditure (CAPEX) plans and dividends. Given relatively high oil prices, Vista's report will likely showcase resilient cash flow. CIS investors following the oil and gas sector may find interest in such regional players amidst 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 demonstrates sustained growth, thanks to its broad portfolio of medicines. In the report, investors will seek: revenue growth in key segments (oncology, cardiology, etc.), sales of flagship drugs (Tagrisso for lung cancer treatment, Farxiga for diabetes and heart failure, etc.), and an updated annual revenue forecast. Previously, AstraZeneca set a goal to increase annual revenue to $80 billion by 2030—the current reports illustrate movement towards that goal. It is also important for investors to consider margin figures and R&D expenses: AstraZeneca is known for its extensive development portfolio, so news about new drug approvals or successes in clinical trials may accompany the financial report.
- Datadog (DDOG) – an American cloud company (SaaS) in the high-tech sector, specializing in IT infrastructure monitoring and security. Datadog's quarterly report 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 to be ~20-25% y/y) and the number of large clients, as well as management’s forecast. Last quarter, DDOG slightly disappointed the market with cautious guidance, so it is crucial to confirm whether strong demand persists amidst IT budget optimisations. If the company's report exceeds expectations and forecasts are raised, it could trigger a stock rally in pre-market trading.
- Aspen Aerogels (ASPN) – a small innovative company from the US manufacturing aerogel insulation materials (for energy, construction, electronics). Aspen Aerogels' results are of interest in the context of new technologies: demand for its products is rising due to the shift towards energy efficiency and electric transport (aerogels are used in EV batteries). The quarterly report will show revenue dynamics (which previously grew at double-digit rates) and, crucially, the amount of losses, as the firm is still in a growth investment phase. If losses are decreasing while sales exceed projections, it will improve sentiment around the stock.
- Warner Bros. Discovery (WBD) – a media conglomerate encompassing the Warner Bros. studio and Discovery networks (channels, streaming HBO Max). WBD's report before the market opens will provide insight into the state of the media industry. Key metrics include the number of subscribers to streaming services, revenue from films released in Q3, and whether profitability has been achieved following the merger of Warner and Discovery. Investors also await management's comments on the prospects for new content and monetising popular franchises. The results from Warner Bros. Discovery may impact the entire entertainment sector, including Disney and Netflix, setting the tone regarding trends in streaming video and traditional TV.
After Market Closes (After-market)
- The Trade Desk (TTD) – an American advertising technology platform (programmatic advertising). The report will be released after US market trading closes and will be closely scrutinized, as TTD is a leader in digital advertising. Double-digit revenue growth is expected to continue, due to the reallocation of advertising budgets to online platforms. Investors will look at segment performance metrics (CTV – connected TV, video, mobile advertising) and comments on the state of the ad market. The guidance for the next quarter (including the holiday season) will be crucial: a strong guidance could lift shares and the entire ad tech sector.
- Opendoor Technologies (OPEN) – an American proptech startup engaged in the online purchase and sale of residential real estate (iBuyer model). Opendoor's Q3 results, released post-trading, may be weak given the challenging US housing market (rising mortgage rates, slowing sales). The company is likely to report a revenue decline and continued losses, as transaction volumes have decreased. Investors will focus on how successfully Opendoor is liquidating its inventory of homes and reducing costs. Any signs of improving margins or demand stabilisation on the platform will be positively received, while any increase in losses will heighten pressure on the shares.
- Iris Energy (IREN) – an Australia-Canada company engaged in cryptocurrency mining (Bitcoin) using renewable energy. The quarterly report will provide insight into Bitcoin production, mining cost, and financial results in the context of the volatile crypto market. Investors will pay attention to production metrics (the number of mined Bitcoins) and profitability, especially considering the recent rise in Bitcoin price in October. If Iris Energy successfully boosted its hash rate and reduced per-cost mining, it will strengthen confidence in its business model. However, high volatility in crypto assets makes its shares risky – markets may react fiercely to either a positive surprise (profit) or deteriorating finances.
- MP Materials (MP) – an American mining company developing the Mountain Pass rare earth minerals deposit. Rare earth elements are vital for electronics and electric vehicle production. The report from MP Materials after market closure will showcase production and processing volumes, revenue from concentrate sales, and progress on proprietary processing projects (to reduce dependence on China). Investors await updates on the construction of processing facilities and possibly comments regarding collaboration with Tesla and other consumers. The company is financially stable (profitable, with good margins), so crucial will be future plans and the state of rare earth oxide prices.
- SoundHound AI (SOUN) – a young company in the artificial intelligence field, specialising in voice recognition technologies and voice assistants. Its quarterly report will shed light on the commercial progress of SoundHound's AI solutions. Items on the agenda include revenue growth (currently modest), new contracts with automotive manufacturers and smart device companies, as well as loss levels. Given the hype surrounding AI from 2023-2025, investors are eager to see if this hype translates into real sales. Improvement in metrics (such as reduced EBITDA loss, expanding client base) will support shares, whereas stagnation may trigger sell-offs given the high volatility of such stocks.
- DraftKings (DKNG) – one of the leading American companies in online betting and sports wagering. DraftKings' Q3 results (released post-close) should confirm the ongoing boom in online betting in the US. Substantial revenue growth is anticipated, as the company actively ventures into new states and expands its user base. Investors will analyse metrics: the number of monthly active users (MAUs), average revenue per user, marketing expenses, and critically, the trajectory of loss reduction. In the previous quarter, DraftKings improved its annual forecast and reduced losses beyond expectations, triggering a stock rally. If this positive trend continues, DKNG shares may keep climbing. However, the industry is competitive (FanDuel and others), so any comments on market share and customer retention strategies are crucial.
- NuScale Power (SMR) – an American company developing small modular nuclear reactors (SMR). The NuScale project is intriguing as potentially revolutionary in energy but is still in the R&D phase without revenue. Its quarterly report (after the close) will largely reflect cash expenditure, progress in gaining licenses and orders. Investors await news on potential clients and partners, as well as an update on the timeline for building the first station. A significant event was the recent agreement with the Romanian Nuclearelectrica and funding from the US government – details may emerge in the report. SMR shares are volatile and react more to news than financial metrics, so key for investors will be any positive signals regarding the commercialisation of NuScale technologies.
- Innodata (INOD) – a small American IT company providing data processing, annotation, and AI services. In the report, investors will look at revenue growth, particularly in the AI-annotation segment, where the company collaborates with major tech clients. Profitability will also be under scrutiny: can the company remain profitable or at least close to breakeven? INOD shares surged in 2023 amid interest in AI, so justifying this enthusiasm with real financial results is crucial. If the figures fall short of expectations, a substantial correction in share prices may occur post-report.
- Archer Aviation (ACHR) – a California-based startup developing electric air taxis (eVTOL). Archer's quarterly report will be released late evening, and like many pre-revenue companies, it will primarily reflect development costs. However, the company recently made progress – successfully conducting test flights of its Midnight vehicles, receiving investments from Stellantis and others, and plans to launch an air taxi service in 2025-2026. Investors await updates on FAA certification status, production status, and orders (previously Archer had preliminary orders from United Airlines). Financially, key will be the cash balance and cash burn for the quarter, to understand how long capital lasts until commercial rollout. News announcements regarding partnerships or successful test results may overshadow strictly financial figures in market perception.
- Airbnb (ABNB) – a major American company, a leader in the online accommodation booking market (sharing economy). Airbnb will publish its results after the main market closes, but they will be among the most discussed. The third quarter includes the summer holiday season, usually the most profitable for Airbnb, so investors expect strong figures: record revenue and high profit. Consensus anticipates revenue growth supported by sustained demand for short-term rentals around the world, despite economic fluctuations. Important metrics include gross booking volume (GBV), number of nights booked, average booking cost. In the last quarter, Airbnb also announced a share buyback program, and investors will look at how this impacted earnings per share. Additionally, participants will anticipate management comments on trends for 2026: whether the trend for remote work and digital nomads, which stimulates long-term bookings, persists; and how the company adapts to increased competition (from traditional hotels and local platforms). Given the significance of Airbnb, its report may impact the entire tech sector and tourism industry in the following sessions.
Other International Reports (Europe, Asia, Russia)
In addition to those mentioned, there are important corporate reporting events in other regions on this day that are also worth monitoring:
- Nissan Motor (Japan) – a major automaker (part of the Nikkei 225) will publish its 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 financial year, primarily due to high tariffs in the US and tough market competition. For the first half (April-September), the company preliminarily estimated a net loss of ¥230 billion – these figures will be confirmed in the report on 6 November. Investors will see how severely Nissan has been hit by both falling sales (particularly in China and the US) and increased costs. Progress on Nissan's restructuring programme will also be of interest: the company is cutting costs, updating its model line, and betting on electric vehicles. Any signs of improvement in Q2 (July-September) – for example, reducing losses compared to Q1 – could somewhat bolster confidence that the crisis measures are yielding results. However, the overall picture is expected to remain challenging, and markets will primarily react to management forecasts concerning when Nissan will return to profitability.
- RUSAL (Russia) – one of the world's largest aluminium producers, whose shares are traded on the Moscow Exchange and Hong Kong. On this day, the RUSAL Board of Directors will hold a meeting (scheduled for 6 November 2025) to discuss recommendations for an extraordinary shareholders meeting (likely, including issues concerning profit distribution and strategy). Usually, during the first half of November, RUSAL also publishes operational results for Q3 (aluminium and alumina production, sales dynamics) and may unveil financial indicators for the first nine months. Investors expect signals from the company regarding exports: due to a shift towards Asian markets and the recovery of aluminium prices, RUSAL's financial results for the reporting period could improve. The intrigue surrounds the possible resumption of dividend payments; any recommendation on this matter from the board would serve as a strong driver for the shares. Management's commentary on the impact of energy and raw material prices on production costs and prospects for demand in China (the largest consumer of aluminium) is also vital. 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
The 6th of November 2025 shapes up to be a day filled with critically important information for all categories of investors. The combination of significant macroeconomic events (PMI, jobless claims data, central bank decisions) and extensive company earnings creates a foundation for heightened volatility in trading venues. Consequently, investors from the CIS and other regions should approach trading on this day with caution and a ready action plan. It is recommended to:
- Carefully track released indicators (especially PMI and labour market statistics) and the reaction of global markets to them. This will assist in adjusting tactics: for instance, strong data from the US may strengthen the dollar and pressure commodity assets, while “soft” signals from central banks could support equities and bonds.
- Analyse corporate reports not just by headlines, but in detail. During periods of mass earnings releases, it’s essential to distinguish between one-off factors and sustainable trends. Pay particular attention to the management forecasts for future periods – as they often drive price movements more strongly than the figures from the past quarter.
- Diversify risks and avoid excessive concentration on a single event. If an investor's portfolio is balanced across asset classes and regions, the impact of any negative surprise (whether macro data or a poor report from a single company) will be mitigated. For example, a mix of stocks from various sectors (technology, commodities, finance) and having defensive assets will help weather possible short-term fluctuations.
- Maintain focus on a long-term strategy. Despite the abundance of news, it’s crucial not to succumb to impulsive decisions. Markets may react sharply to fresh information, but for a composed investor, the overall trend matters more. By assessing fundamental signals (economic growth rates, profitability trends in companies, actions from central banks), more deliberate decisions can be made, without chasing short-term speculative movements.
In summary, 6 November promises to be rich in insights. A prudent investor who evenly considers both the macroeconomic backdrop and the results of corporate earnings will be able to benefit from this influx of information. Whether adjusting a portfolio or seeking new opportunities during dips, the key is to maintain discipline and remain focused on core investment objectives. By observing the day’s events and their influence on markets, CIS investors will gain valuable experience and data for future decisions. The path to success lies in combining analysis with patience: this overview will help navigate 6 November effectively, but the ultimate outcome depends on the astute application of this information in practice.
