Main Economic Events and Corporate Reports for Wednesday, 5 November 2025. Focus is on PMI Indices, the US Supreme Court ruling, Qualcomm, Arm, Snap, Robinhood, Duolingo and other leading companies' earnings. Analysis of impacts on global markets and recommendations for investors.
Today, 5 November 2025, investors are focused on key economic indicators and corporate earnings that could significantly influence market sentiment. Attention is directed towards PMI data across various regions, the US Supreme Court's decision on trade tariffs, and a series of financial results from major corporations. As we enter a new trading day, it is crucial to understand the risks and opportunities these events present for investors from the CIS and the global market as a whole.
USA: Supreme Court, Labour Market and Business Activity Index
- Supreme Court and Trade Tariffs: Today, the US Supreme Court will hear a case regarding tariffs imposed by the Trump administration. The ruling on this issue could influence trade policy and companies in sectors affected by tariffs. Investors are assessing risks for industrial firms and exporters: the removal of tariffs could reduce prices for imported raw materials but create competition for domestic producers.
- Labour Market (ADP): At 15:15 GMT, the ADP report on employment in the US private sector for October will be released. Following a slowdown in hiring over the summer, market participants are looking for signs of a recovery in job growth. A moderate increase in employment will strengthen confidence that the economy is 'soft landing', whereas weak numbers will raise recession fears. This report will inform expectations ahead of the official labor market data set to be released on Friday.
- Business Activity Indicators (PMI): Throughout the day, final readings of the US Services PMI for October will be published – the S&P Global PMI (at 16:45 GMT) and the more significant ISM Services PMI (at 17:00 GMT). Predictions suggest the ISM index will remain above 50 points, indicating ongoing growth in the services sector. Stronger-than-expected PMI figures could support the US market, while a decline in PMI could indicate an economic slowdown and pose a risk to investor sentiment.
- Oil Market (EIA): At 18:30 GMT, the US Department of Energy will release weekly data on oil and petroleum product inventories (EIA report). The energy sector reacts to inventory dynamics: a decrease in inventories typically supports oil prices, which is beneficial for oil and gas companies (notably for the Russian market), while an increase in inventories could exert pressure on prices. Investors are also watching how the inventory situation fits into the broader context of OPEC+'s decision to maintain production and the sanctions affecting the oil market.
Europe: PMI in Germany and Britain, Industrial Orders and Producer Prices
- Germany and Eurozone – Orders and Prices: In the morning, data on industrial orders in Germany will be released. Previous months indicated a decline in orders amid weak external demand, and markets are hopeful for a potential rebound in September. An improvement in this indicator will bolster faith in stabilising the Eurozone's largest economy, while a further decline will signal alarm. Additionally, Eurostat will publish the Producer Price Index (PPI) for the Eurozone. A continuation of slowing manufacturing inflation is expected – a decrease in PPI could indicate waning inflationary pressure, potentially giving the ECB more room for dovish policy.
- Services PMI Indices: Today, final data on the October Services PMI for several European countries will be released. Key focus includes HCOB PMI for the Eurozone and final figures for the UK. Preliminary estimates signalled stagnation or weak growth, with indices around the 50-point mark. Confirmation of these values will show that the European services sector is teetering on the brink of growth and contraction. The situation in the UK is similar: the final Services PMI is likely to remain below the neutral level of 50, reflecting ongoing pressure from high Bank of England rates on the economy. Any surprises – up or down – could significantly impact euro and pound exchange rates, as well as European equity indices.
Russia and Other Emerging Markets: PMI and Rate Decision in Brazil
- Russia – PMI Index: Attention from CIS investors will be fixed on the PMI business activity index for Russia for October. Preliminary data suggests that the manufacturing PMI remains below 50 points, signalling contraction in the industry. However, the situation in the services sector may have improved: the market expects a figure close to 50 or slightly above, indicating stabilisation of activity. A strengthening of the PMI in Russia would boost optimism regarding business activity in Q4, while weak figures would heighten concerns about economic slowdown against a backdrop of geopolitical risks and fluctuations in the ruble.
- Brazil – Interest Rate Decision: Late Wednesday night (around 00:00 GMT), the Central Bank of Brazil will announce its decision on the benchmark interest rate. Currently, the Brazilian Selic stands at 15.00% – the highest in recent years – with authorities under pressure from a slowing economy advocating for a rate cut. Analysts do not rule out that the regulator may begin a cycle of easing monetary policy or, at the very least, clearly signal a willingness to lower rates in the coming months. Any change in rates in Brazil will impact sentiment among investors in emerging markets: a rate cut will support Brazilian stocks and currency, while a pause in rate reductions may temporarily dampen risk appetite in the region.
Asia and the Pacific Region: PMI in China, Bank of Japan Minutes and Australia Data
- China – Caixin Services PMI: This morning, the Caixin Business Activity Index for China's services sector for October was released. Following recent signs of improvement in manufacturing (Caixin Manufacturing Index edged slightly above 50), investors are keen to see whether the services sector maintains the recovery trend. A reading around 52–53 points is expected, which would indicate modest service sector growth. An acceleration in activity in China would be a positive signal for commodity markets and Asian stocks, especially against the backdrop of previous government stimulus. Conversely, if the PMI disappoints, doubts regarding the sustainability of China’s economic recovery could emerge.
- Japan – Bank of Japan Minutes: The Bank of Japan will publish the minutes of its last meeting. Investors will scrutinise the details of discussions among central bank leadership to infer the future course of policy. At the previous meeting, the Bank of Japan maintained its ultra-loose monetary policy but hinted at the possibility of adjusting bond yield control. If the minutes reveal that some board members are leaning towards tightening policy or a more rapid rate hike in the future, the yen may strengthen, and the Japanese stock market might react negatively. However, the base scenario suggests ongoing disagreements without urgent changes, which would limit the minutes' impact on the market.
- Australia and Regional Data: In Australia, PMI indices and other statistical data will be published, shedding light on the economy following the Reserve Bank of Australia's recent decision to maintain rates. Resilient business activity indicators, coupled with a recent rise in inflation, would strengthen expectations that the RBA will keep rates high for a longer period. Conversely, if PMIs indicate a slowdown, discussions about potential rate cuts may intensify. Notably, no significant Canadian statistics are expected on Wednesday; however, investors are eyeing the overall backdrop, with the Canadian Ivey PMI index due for release tomorrow, along with employment data later in the week. Overall, morning data from the Asia-Pacific markets will set the tone: strong reports will act as a risk appetite driver, while weak figures may induce market caution.
USA: Corporate Reports Before Market Opening
In addition to macroeconomic indicators, investors are paying attention to the continued corporate earnings season. Before the main session in the US begins (prior to the market opening), earnings reports from several major companies will be released, which set the tone in their respective sectors:
- McDonald’s: The world’s largest fast-food chain (a component of the Dow Jones index) will release its Q3 earnings report. Analysts expect revenue growth of around 3% year-on-year to approximately $7.1 billion, along with a slight profit increase (forecast ~ $3.33 per share). Investors are interested in whether McDonald’s continues to demonstrate comparable sales growth through price increases and demand for its value menu. Strong results from McDonald’s would signal positive consumer demand both in the US and globally, whereas weak figures could raise concerns about costs and inflationary pressure on consumers.
- Humana: One of the largest health insurance companies in the United States will report its quarterly earnings. The healthcare sector is currently at the forefront due to rising expenses and reforms. A solid growth in insurance premiums of approximately 8–9% is expected, which should support revenue. The consensus forecast for Humana's profit is around $2.90 per share. Investors will be looking for signs in the report regarding the dynamics of healthcare spending and projections for its client base to assess the prospects for the entire health insurance sector.
- DigitalOcean and Unity: Among mid-cap technology companies, cloud provider DigitalOcean and game engine developer Unity Software will report before market opening. **DigitalOcean** (focused on small to medium businesses in cloud servers) will release its results in the morning; forecasts suggest revenue growth of about 20% year-on-year. Retention of its customer base and controlled expenses are key points for assessing business resilience. **Unity** – a platform for game and 3D content development – will also report ahead of trading. Despite a slowdown in revenue growth (expected to be around +30% year-on-year), investors are looking for updates on loss reduction efforts and success in monetisation (following previously announced licensing changes). Market reaction to these reports will reveal investors' risk appetite in the mid-cap technology segment.
USA: Key Reports After Market Close
The main block of American corporate earnings for today will be released after market close (after 23:00 GMT). In the evening, investors will receive financial results from several well-known companies that are likely to influence the entire technology and consumer sectors:
- Qualcomm (post-market close): One of the leaders in the semiconductor industry will report its results for the fourth quarter of the 2025 financial year. Qualcomm's earnings are expected to affect the entire technology sector: analysts forecast ~$10.9 billion in revenue and $2.30 in profit per share (GAAP). Increased demand for chips for automobiles, IoT, and artificial intelligence is expected to offset the slowdown in smartphones – this is what investors are counting on. Particular attention will be paid to the management's forecast for the following quarter and commentary on supply chains and 5G licensing. A strong report from Qualcomm could uplift shares across the semiconductor sector, while disappointment may heighten caution in the tech segment.
- Robinhood: Fintech broker Robinhood will publish its Q3 results amid a remarkable surge in the company's stock this year (HOOD shares are up nearly 300% since the beginning of the year). Market expectations are optimistic: revenue may increase to around $1.2 billion (+90% year-on-year) due to rising interest income and a steady influx of new clients. Investors are keen to learn whether Robinhood has maintained profitability after achieving breakeven earlier this year, as well as metrics on trader activity and client asset volumes. The report from Robinhood serves as an indicator of retail investor interest in the market and the state of the fintech sector.
- Snap Inc.: The developer of the popular messaging app Snapchat will provide data for the third quarter on a conference call at 00:00 GMT. Following mixed results in the previous quarter, Snap is now expected to see slight revenue growth and audience stabilisation. The consensus forecast suggests a moderate increase in ad sales, although business margins are under pressure. Investors will closely monitor user metrics (daily audience, engagement) and the company’s forecast for the fourth quarter – traditionally a strong holiday season. The dynamics of Snap’s shares post-report will set the tone for other social media and ad-tech companies.
- Arm Holdings: Chip design manufacturer Arm, which recently returned to the stock market, will report for the second quarter of its 2026 financial year. This will be one of the first significant reports from Arm after its IPO, attracting heightened attention. The market anticipates revenue growth driven by an expansion of ARM architecture licensing in the server and mobile segments. Additionally, investors are interested in the company’s prospects in the field of AI chips. Given Arm's status as a barometer for the semiconductor industry, its report and comments may impact valuations for technology IPOs and appetite for them.
- Duolingo: Edtech startup Duolingo (a language learning platform) will announce results in the evening, amidst confident business growth. The third-quarter revenue is expected to rise ~35% year-on-year, approaching $260 million. Despite a slowdown in growth rates compared to the previous quarter, this figure indicates a strong user retention and the company’s ability to monetise subscriptions. Should Duolingo exceed expectations or improve its forecast, it would support a positive sentiment towards the online education space. Conversely, rising marketing expenses or a decline in active users may raise investor concerns.
- Figma: Design software company Figma will release its financial results (now Figma is a public company under the ticker FIG). The analyst consensus for Figma is earnings of around $0.05 per share with revenue of ~$264 million for the quarter. This report is particularly interesting in the context of recent volatility in technology IPO stocks. Investors will assess the growth rates of Figma's user base, expansion in corporate clients, and the impact of competition (including integration with Adobe). Successful results from Figma could restore confidence in new names on the stock exchange, while weak outcomes may increase caution regarding highly valued tech newcomers.
- SolarEdge: Solar equipment manufacturer SolarEdge will report amidst recent challenges – the previous quarter saw the company shock the market with a forecast downgrade due to declining demand in Europe, which sent its shares tumbling. Investors are now keen to see how SolarEdge manages inventory accumulation and slowing sales. Revenue decline is expected, and the key question is whether demand will recover in 2024. Results from SolarEdge will affect the entire renewable energy sector: positive news could enhance sentiment in the green energy space, while further weak performance may lead to sell-offs in competitors’ shares.
- Other Reports: Among other companies set to publish results post-market are **AMC Entertainment** (cinema chains, expected loss of about $0.15–0.20 per share as theatre attendance gradually recovers), **Applovin** (mobile app monetisation platform developer, with investors looking for revenue and margin growth following success in advertising and gaming), **IonQ** (quantum computing startup – interesting for tech enthusiasts but still operating at a loss), **Recursion Pharmaceuticals** (biotech, with important data on progress in AI drug developments), and **Brinks** (security and cash handling services provider, an indicator of offline business activity). Moreover, **Dutch Bros** (coffee shop chain, witnessing revenue growth due to expansion in the western US), **Cameco** (Canada's largest uranium producer, whose performance is of interest amid a uranium price rally), and **Sportradar** (Swiss sports statistics provider, where investors will gauge business growth in data for betting and media). While each of these companies has its specifics, collectively they will provide a broad picture of corporate health – from traditional sectors to advanced industries.
Europe: Corporate Reports and Market Leaders
Significant corporate earnings are also emerging from European exchanges. Particular attention is drawn to a company that has become the locomotive of the European market in recent months:
- Novo Nordisk: The Danish pharmaceutical giant and the most valuable company in Europe published financial results early in the morning (before trading commenced in Copenhagen). Novo Nordisk, a producer of the revolutionary weight loss drug Ozempic, has shown explosive profit growth in recent quarters, driven by global demand for diabetes and obesity treatments. Forecasts suggest that revenue for Q3 increased at a double-digit rate, with profit continuing to hit new records. Investors will be closely listening to management's guidance: will high demand continue, and are production capacities sufficient to meet global interest in their drugs? The report from Novo Nordisk is significant not just for the company's stock but also for the European market as a whole – the results of such a "heavyweight" influence the Copenhagen OMX index and the Euro Stoxx 50, as well as setting the tone in the pharmaceutical sector.
- Other European Companies: Other reports of the day will come from a range of industry leaders. For example, **Orsted** (Denmark) will release results for the first nine months of 2025: a key player in the wind energy sector, its metrics will clarify the situation in Europe’s renewable energy landscape. Reports from **Rheinmetall** (Germany, defence sector) and **Engie** (France, energy) are expected over the week, and investors are already contemplating how geopolitical factors and energy prices have impacted their profits. Although there are no releases from them today, the market is factoring in expectations. Today, Russian companies are not planning major publications – the reporting season on the Moscow Exchange is primarily concentrated in late October and mid-November. Nevertheless, CIS investors are watching financial trends: the recent strong results from Sberbank (profit growth for the first nine months) and expectations of earnings reports from oil and gas giants in the coming weeks are shaping the background for the Russian market.
Conclusion: Risks and Opportunities for Investors
The day of 5 November 2025 is replete with events that could either jolt the markets or bolster investor optimism. The main risks are centred around potential negative surprises: weak PMIs across key economies could reignite recession fears, while disappointing earnings from corporate leaders could erode confidence in the prospects of specific sectors. Special attention is drawn to the US Supreme Court's decision on tariffs, as its outcome may reshape the playing field for various industries and adjust global trade flows. Conversely, market opportunities reside in positive news: sustained growth in the services sector, strong employment data, or impressive corporate earnings (such as Qualcomm or Novo Nordisk exceeding forecasts) could instil confidence in investors and support a rally in risky assets. For investors from CIS countries, the current news backdrop necessitates careful evaluation of their portfolios: commodity currencies and stocks will react to statistics from the US and China, while interest rate decisions and corporate performances will help calibrate expectations regarding global liquidity and demand. As the day concludes, markets will have a clearer understanding of where the world economy is heading towards the end of the year, and this understanding will underpin investment strategies – both in terms of risk mitigation and seeking new growth opportunities.
