Key Economic Events and Corporate Reports for Wednesday, December 17, 2025: Inflation in the UK, Eurozone, and Russia, EIA Oil Inventory Data in the US, Earnings Reports of Major Public Companies.
UK Inflation: Ahead of Bank of England's Decision
At 10:00 MSK, inflation data for the UK for November will be published. The annual consumer price index is expected to remain around 3-4% y/y, possibly accelerating slightly from the October figure (~3.6% y/y). Inflation in the UK has significantly declined from double-digit peaks earlier in the year; however, it still exceeds the Bank of England's target level of 2%. The restrained price dynamics enhance expectations that on the following day (December 18), the Bank of England may implement its first rate cut in the last couple of years. A strong slowdown in CPI would increase the likelihood of monetary policy easing, while an unexpectedly high inflation spike would prompt caution from the regulator. The market will closely monitor the morning release, as it will set the tone for movements in the British pound and UK equities.
Eurozone Inflation: Close to Target Level
The European Union's statistical office will publish the final CPI index for November at 13:00 MSK. Initial estimates indicate that year-on-year inflation in the Eurozone stood at approximately 2.2%, slightly rising from 2.1% in October. This level is nearly in line with the European Central Bank's target of 2%, indicating a successful cooling of price growth compared to previous years. Core inflation remains a bit above the overall figure (around 2.4% y/y) but also shows a downward trend. Confirmation of moderate inflation will bolster confidence that the ECB will take a pause following a series of interest rate hikes and maintain its current policy unchanged. Overall, stable price indicators in Europe reduce pressure on the regulator and support expectations of a gradual return to the target inflation rate, which bodes well for European markets.
US Oil Inventories (EIA Report): Impact on Commodity Market
At 18:30 MSK, the EIA will release its weekly report on US commercial oil inventories. In the previous week, the data recorded a decrease in stocks by approximately –1.8 million barrels (following a slight increase the week before), reflecting sustained demand for fuel. New figures will reveal whether this trend continues: analysts do not rule out further decreases in inventories in the range of 1–2 million barrels, although an unexpected increase in stocks due to seasonal factors is also possible. For the oil market, this is one of the key indicators of the supply-demand balance. If the report shows a substantial reduction in inventories, oil prices could receive support. Conversely, an increase in reserves will exert downward pressure on prices, particularly in light of the recent market weakness—just yesterday, WTI fell to $56 per barrel, reaching minimal levels for recent months amid concerns of an oversupply at the start of 2026. Investors in the oil and gas sector will closely analyse the EIA release, as it could prompt significant price fluctuations in oil and shares of commodity companies.
Inflation in Russia: Slowdown Ahead of Central Bank of Russia's Decision
At 19:00 MSK, fresh data on consumer inflation in Russia will be released. As of November, year-over-year price growth in the Russian Federation has noticeably slowed—official inflation dropped to around 6.6% y/y (from 7.7% in October), reaching its lowest point in over two years. This decline was even sharper than analysts had anticipated and indicates a weakening of price pressure due to a tight monetary policy and the ruble's strengthening in the autumn. Weekly indicators for the first weeks of December also suggest the continuation of this trend (for instance, at the end of November, weekly price growth reduced to a mere 0.04%). This trend inspires optimism that the Bank of Russia could initiate a cycle of key rate cuts at its upcoming board meeting on December 19. The current rate stands at 16.5% per annum, with the market's baseline forecast indicating a reduction of 0.5 percentage points (to 16.0%). However, much depends on current inflation data: if the new report registers an unexpected price surge in early December, the central bank may prefer to wait. Investors will closely evaluate the published figures, as they directly impact the rhetoric and decisions of the regulator, which in turn will affect the bond market and banking sector.
Corporate Reports in the US: Focus on Tech Sector and Consumer Market
The US stock market will receive a batch of corporate news—several companies from the S&P 500 index will present their reports, setting the tone for their respective sectors. Some reports will be released before the US market opens (around 14:00 MSK), while others will follow after the market closes later in the evening.
- Micron Technology (NASDAQ: MU): One of the largest chip manufacturers will report for the first quarter of the 2026 financial year (release expected after market close). Analysts are predicting a sharp increase in results due to heightened demand for artificial intelligence memory: consensus forecasts suggest Micron's earnings could reach ~$3.8 per share (up from $1.8 a year earlier), alongside steady revenue growth. Investors will pay close attention to management's forecasts regarding the memory market and chip prices—a bullish outlook could propel not only Micron shares but the entire tech sector.
- General Mills (NYSE: GIS): The consumer goods food company will reveal results for the second quarter of the 2026 financial year (before market opening). A deterioration in performance is anticipated compared to the high base period of the previous year: the consensus forecast suggests an approximately 8-9% decline in revenue year-on-year and a drop in adjusted earnings per share of about 25-30%. Increased competition and normalising demand post-pandemic, as well as unfavourable currency exchange rates, are exerting pressure on General Mills' sales. Investors will be looking for signs of margin stabilisation and the effectiveness of cost-cutting measures in the report.
- Jabil Inc. (NYSE: JBL): The large contract manufacturing company (EMS contractor) will publish its financial results for the first quarter of 2026. Jabil is part of the S&P 500 and serves technology giants, making its performance a barometer for industrial demand. The market expects steady results amid growing orders in electronics and electric vehicles. Management's comments on supply chain conditions and demand from key clients (such as those in cloud technology and automotive sectors) will be important for assessing the prospects of the industrial sector.
- The Toro Company (NYSE: TTC): The manufacturer of lawn care and irrigation equipment will report for the fourth quarter of the 2025 financial year. Although Toro is less known to the general public, its results are interesting in terms of the state of the construction materials and infrastructure market in the US. Analysts expect moderate revenue growth due to consistently high demand from municipalities and sports facilities; however, forecasts from management for the next year will be crucial. Any signs of a slowdown in demand for Toro products could impact estimates for companies in the industrial sector.
- Raymond James Financial (NYSE: RJF): The financial company (investment bank and broker) will publish operational metrics for November. The report will disclose commission income, client asset volumes, and other key metrics. These figures will provide insight into how recent fluctuations in the stock market have affected clients' investment activity. Strong results from Raymond James could indicate a favourable environment for brokerage houses and Wall Street banks at year-end, while weak results might suggest investor caution and decreased trading activity.
Europe and Asia: A Pause in Earnings Season
In European and Asian markets, there are no expected quarterly reports from major companies on December 17. The earnings season for key indicators in the region, such as the Euro Stoxx 50 and Nikkei 225, has already concluded, meaning no corporate surprises are anticipated for the day. Investors in these markets, in the absence of new reports, will focus primarily on external factors—macroeconomic statistics and news developments. Some individual companies may conduct investor days or publish operational metrics on this day, but the impact of such events will be limited to local effects. Overall, for Europe and Asia, this Wednesday will pass relatively calmly in terms of corporate news, with market participants turning their attention to global trends and inflation data.
Corporate Events in Russia
On the Russian corporate calendar for December 17, there are also no publications of financial statements from leading issuers—the quarter earnings season has already concluded. In the Moscow Exchange index, no major firms are reporting on this day. Nevertheless, there is one notable event of interest to shareholders: “Renaissance Insurance” is conducting a dividend cut-off. December 17 is the last day to register as a shareholder entitled to receive dividends for the first nine months of 2025. This means that investors holding the company’s shares until the end of trading on Wednesday will be eligible for the announced dividend payments. Such corporate events typically do not have a significant impact on the market as a whole but are important for holders of specific securities. In other respects, the news background of the Russian market will be shaped by macroeconomic data regarding inflation and external factors.
What Investors Should Note
- Morning CPI data for the UK (10:00 MSK) and Eurozone (13:00 MSK) will set the tone for European markets and influence expectations for the Bank of England and ECB's interest rate decisions.
- The EIA oil report (18:30 MSK) will be a key event of the evening for commodity markets: inventory dynamics in the US will directly impact oil prices and shares of oil and gas companies.
- US corporate reports (throughout the day) may cause movements in specific sectors: strong results from tech companies (e.g., Micron) could support Nasdaq, while weak reports from the consumer or financial sectors may negatively affect the broader market.
Investors are encouraged to pay close attention to the publication of these data and reports throughout the day. Unexpected deviations from forecasts could intensify market volatility but simultaneously create opportunities for adjusting investment strategies ahead of the upcoming new year.
