Economic Events and Corporate Reports on Wednesday, 11 February 2026: China's CPI, US Non-Farm Payrolls, and EIA Oil

Key Economic Events and Corporate Reports for Wednesday, 11 February 2026: China’s CPI, US Labour Market, EIA Oil Inventories, US Federal Budget, and Earnings Reports from Major Global Public Companies

Wednesday, 11 February 2026, promises to be a busy day for CIS investors. The focus is on both key economic events of the day and significant corporate earnings reports for the fourth quarter. On the global stage, attention is directed towards inflation data (CPI) and labour market statistics, which may influence central bank decisions, alongside the release of quarterly reports from corporations in the US, Europe, Asia, and Russia. Below is a detailed overview of what to expect for investors—from macroeconomic statistics and oil markets to corporate publications—along with timely metrics and highlights for the stock market.

Macroeconomics

Among the major macroeconomic events today:

All day, Japan: National holiday, financial markets are closed.
04:30 MSK, China: Consumer Price Index (CPI) for January. Inflation is expected to remain moderate—projected at around +0.5–1.0% year-on-year, reflecting subdued domestic demand. This data is crucial for Asian markets: a weak CPI confirms the absence of inflationary pressure and gives the People's Bank of China room for accommodative policy.
All day, Russia: Foreign Minister Sergey Lavrov’s address in the State Duma. The focus is on foreign policy statements, sanctions, and geopolitics. Investors will seek signals that could affect the investment climate or asset prices (e.g., comments on relationships with key trading partners or new foreign economic initiatives).
16:00 MSK, Russia: Trade balance for December. The previous figure showed a substantial surplus due to high commodity prices. New data will allow for evaluation of the dynamics of oil and gas exports and the state of Russia’s external trade amid sanctions. A strong trade balance supports the rouble and fundamentally impacts the Russian stock market, particularly the shares of commodity companies.
16:30 MSK, USA: New non-farm payroll jobs (Non-Farm Payrolls) and unemployment rate for January. The consensus forecast is approximately +70,000 new jobs (compared to +50,000 in December), with an unemployment rate around 4.4%. These key labour market indicators may adjust expectations regarding the Federal Reserve's monetary policy: weaker data would confirm economic cooling and strengthen expectations of policy easing, while unexpectedly strong employment growth may increase the likelihood of high rates persisting longer.
18:30 MSK, USA: Weekly oil inventories data from the Energy Information Administration (EIA). The oil market is closely monitoring the balance of supply and demand: a moderate change in stock levels is expected (analysts forecast a slight seasonal increase in gasoline inventories and a decrease in crude oil stocks). EIA data will impact both Brent and WTI oil prices and, correspondingly, stocks of oil and gas companies.
19:00 MSK, Russia: Weekly consumer price index (weekly inflation for Russia). Previous weeks indicated a price increase of around 0.1–0.2% per week, suggesting an annual inflation trend near 5–6%. The new figure will help assess whether inflationary pressure is accelerating as winter comes to an end, which is important for expectations regarding the Central Bank of Russia's key rate.
22:00 MSK, USA: Federal budget for January. The Treasury's budget report will show the size of the deficit/surplus for the month. January typically features increased budget expenditures and may report a deficit. Significant deviations will impact US Treasury yields and investor sentiment regarding fiscal sustainability: an increased deficit may intensify discussions on the need for austerity measures or the impact on the debt ceiling.

Oil

The oil market today is influenced by mixed factors. On one hand, EIA inventory statistics (released this evening) set the tone: recent weeks have shown divergent dynamics—with a reduction in commercial crude oil stocks alongside steady US exports, but an increase in product stocks due to seasonally weak demand. Investors expect fresh data to confirm relative balance: global consumption is supported by China’s recovery, while supply is ample owing to high exports from the US and stable OPEC+ production.

Brent futures are trading around $80 per barrel in the morning, keeping quotations within a narrow range. Market participants are evaluating whether macro news of the day will affect prices: weak CPI figures from China may raise concerns about raw material demand, while US non-farm payroll statistics could adjust economic growth forecasts and, indirectly, energy consumption. Furthermore, the trade balance for Russia in December (published today) will reflect the volumes of oil and gas exports; sustained exports at relatively high prices support Russia's current account surplus and budget revenues.

Overall, the oil market retains cautious optimism: investors observe that global inflation is decreasing, and major economies are avoiding recession, suggesting stable demand for oil. However, amid geopolitical uncertainty and production fluctuations (e.g., potential OPEC+ cuts or unexpected disruptions), price reactions to any news may be sharp. Today, particular attention is given to the EIA stock figures and Lavrov's rhetoric concerning energy to assess short-term price prospects for oil.

US Companies

In the US, the peak of the quarterly earnings season continues today, with the results of numerous major companies being released before and after the market opens. Q4 2025 earnings reports will be presented by representatives from a diverse array of sectors—including technology, telecommunications, retail, and industrials. Below is a list of key earnings reports from US issuers along with expectations for profit and revenue, as well as important highlights for investors:

Before market opens (US pre-market):

Shopify (SHOP): Expected sharp revenue growth of approximately +28% year-on-year to $3.6 billion and adjusted earnings of $0.47 per share (compared to $0.44 a year earlier). The Canadian e-commerce platform benefited from the holiday season—investors will assess growth rates of sales volumes amid competition with Amazon and other marketplaces. Business margins and the company’s forecast for 2026 amid potential slowing consumer spending are also in focus.
Vertiv (VRT): A manufacturer of equipment for data centres (UPS, cooling systems)—revenue forecast of around $2.9 billion (+double-digit year-on-year growth) and earnings of approximately $1.29 per share (+30% year-on-year) driven by strong demand from data centres and cloud providers. Vertiv's shares rose sharply in 2025 on the wave of investments in AI infrastructure; investors are awaiting confirmation of order portfolio sustainability and commentary on how long this 'supercycle' in data centre equipment will last.
Unity Software (U): A developer of a platform for creating 3D content and video games. Consensus projects revenue of about $492 million (+7–8% year-on-year) and adjusted earnings of approximately $0.21 per share, marking a return to growth after a decline the previous year. In 2025, Unity slashed expenses and focused on monetisation, so market participants will evaluate how this affected profitability. Key risks include competition (especially after the merger of rival Unreal with Epic Games) and Unity's ability to leverage trends in VR/AR and generative AI in media content.
Humana (HUM): One of the largest health insurers in the US. Q4 predictions suggest a rare quarterly loss for the company of about $4.00 per share despite revenue growth to around $32 billion (+10% year-on-year). The reason is one-off factors: increased medical expenses and reserve recalculations in the Medicare Advantage segment. Investors will be interested in how these factors will affect annual earnings and dividends. Additionally, attention will be on Humana's forecast for 2026: can the company maintain growth in insured numbers and reduce expenses amid healthcare reforms and intensified competition (e.g., from UnitedHealth)?
Kraft Heinz (KHC): A food conglomerate producing consumer goods. Quarterly earnings are expected to decline to ~$0.61 per share (approximately –27% year-on-year) and slight revenue drop to ~$6.4 billion (–3% year-on-year). High food inflation and shifting consumer preferences (shoppers switching to more affordable brands) are pressuring results. Investors await commentary on whether the company has been able to raise prices to offset raw material costs and 2026 margin forecasts—especially considering efforts to reduce debt and restructure its brand portfolio.
T-Mobile US (TMUS): An American telecom operator competing with AT&T and Verizon. Despite expected revenue growth of ~+11% (to ~$24.3 billion) driven by subscriber influx and 5G network expansion, quarterly earnings may drop to ~$2.00 per share (–22% year-on-year). Profit pressures stem from costs associated with attracting new customers and integrating the previously acquired Sprint. Key metrics include the growth of post-paid subscribers, customer churn, and free cash flow performance. Investors will also assess T-Mobile's plans for share buybacks and infrastructure development after completing substantial capital investments in 5G.
GlobalFoundries (GFS): A global semiconductor contract manufacturer (with facilities in the US, Europe, and Asia). The consensus for Q4 is revenue around $1.80 billion (+2% year-on-year) and profits of ~$0.47 per share. The microchip sector in 2025 experienced a downturn in smartphones and PCs; however, GlobalFoundries partially offsets this with strong demand for specialised chips for the automotive and industrial sectors. Investors will focus on production capacity utilisation, prospects for new major contracts, and management comments on cost inflation (e.g., electricity costs in Europe).
McDonald's (MCD): The world's largest fast-food restaurant chain. Analysts expect revenue of ~$6.8 billion (+7% year-on-year) and earnings of around $3.00 per share (+8% year-on-year) due to increased traffic and menu pricing. A key metric is the growth of comparable sales (LFL) across regions: McDonald’s reported double-digit growth in Europe and Asia last quarter while demand in the US remained stable. Now China (following the lifting of covid restrictions) and Europe (ability to sustain demand despite inflation) are critical. Investors also await news about expansion plans for the chain in 2026 and insights on automation and delivery initiatives affecting future costs and revenues.
Oatly (OTLY): A Swedish manufacturer of oat milk, earnings report published in the US. Revenue is expected to remain roughly flat year on year (up by a few percent), and losses are set to decrease—the company is close to breakeven operationally. 2025 proved pivotal for Oatly in terms of optimisation: costs were reduced and inefficient production ceased. Investors will be keen to know if this has improved margins and to hear management's forecast regarding profitability for 2026. Data on demand for plant-based milk across regions—whether popularity persists in key markets (the US, Europe, China)—is also significant.
NetEase (NTES): A Chinese internet company and a leader in online gaming (ADR traded on Nasdaq). The report is released before the US market opens (evening Moscow time). Prediction: revenue approximately $4.0 billion for the quarter and net profit of ~$2.0 per ADS. The focus is on gaming divisions: successful launches of new games and steady earnings from major titles (e.g., Fantasy Westward Journey) could support results. However, analysts note that growth may slow due to tightening regulations in China and high base effects from the past year. Investors also anticipate comments on NetEase's cloud services development and other initiatives (e.g., Cloud Music) that diversify the business.

After market closes (US post-market):

AppLovin (APP): Developer of a platform for monetising mobile applications and games. Strong growth in financial metrics is expected: earnings of about $3.00 per share (+~70% year-on-year) with revenue of ~$1.6 billion (+~17%). This leap is attributed to AppLovin’s successful mobile advertising strategy—its MAX platform attracted many developers, and advertiser demand in gaming has remained high. Now, market attention shifts to the company’s forecast: will it maintain double-digit growth in 2026 amid potential slowdowns in the advertising market and competition (e.g., from Unity Ads and IronSource)?
Albemarle (ALB): A leading global lithium producer (used in electric vehicle batteries). The consensus forecast indicates a quarterly loss of ~$0.60 per share, significantly better than last year's loss (reducing losses by ~40% year-on-year). Revenue is estimated at around $1.34 billion, close to last year's level. In 2025, lithium prices dropped markedly from the peaks of 2022, and Albemarle was forced to cut forecasts. Investors will look for signs of recovery in the report—mentions of increased demand from automakers, new long-term lithium supply contracts, or success in geographical expansion (projects in Australia, Chile). Information on controlling expenses and capital investments is also vital—previously, the company announced optimisation measures amid commodity market volatility.
Cisco Systems (CSCO): A flagship in the technology sector, a manufacturer of networking equipment. Publishing results for Q2 2026 (corresponding to calendar Q4 2025). Forecast: revenue of ~$15.1 billion (+2% year-on-year) and earnings of ~$1.02 per share (+8% year-on-year). Although revenue growth is moderate, investor sentiment is positive due to Cisco's order backlog (approximately $43 billion at the end of the previous quarter) and increased demand for data centre solutions. Special attention in the report will be on the segment related to artificial intelligence infrastructure: customers are investing in network upgrades (routers, switches, optics) to support AI needs, and Cisco may benefit from this trend. Other key topics include the dynamics of new orders (book-to-bill), supply chain comments (global semiconductor shortage has practically ended by 2026), and margin forecasts, considering the growing share of software and services in Cisco's business.
QuantumScape (QS): A Silicon Valley startup developing solid-state batteries for electric vehicles. Financial results remain secondary—another quarterly loss (~$0.17 per share) is expected with minimal revenues. More crucial is what the company communicates regarding technological progress: investors await updates on achievable energy density, charge/discharge cycles, and prototype readiness for automakers (Volkswagen being a strategic partner of QS). Following a volatile IPO couple of years ago, QS shares have significantly reacted to news about initial battery sample deliveries to customers and the prospects for commercial launches. Any positive shift in testing or new partnerships could result in substantial price movements.
HubSpot (HUBS): A provider of cloud software for marketing, sales, and customer support (CRM for small and medium businesses). Confident growth is expected: revenue ~up to $830 million (+18% year-on-year) and adjusted earnings of around $2.20 per share (up from $1.70 a year earlier). Despite overall market cooling in SaaS due to cuts to clients' IT budgets, HubSpot manages to maintain double-digit growth owing to product line expansion and international expansion. Investors will pay close attention to customer churn and retention rates and commentary regarding competition with larger players (Salesforce, Oracle). It is also important how the company forecasts demand for 2026—whether margin growth will continue following investments in AI functionality on its platform.
Comstock Resources (CRK): An independent oil and gas company focusing on natural gas production in the Haynesville basin (USA). Q4 forecast: earnings of ~$0.11 per share (down from ~$0.16 a year ago) with revenue around $500 million. The decline results from lower gas prices in 2025 compared to the high levels of 2024. Nevertheless, in recent months, gas prices have rebounded from historic lows, and investors await signals on whether Comstock plans to increase production or limit it to support prices. Additionally, important data will include hedge positions: how the company has secured gas sales for 2026, considering high market volatility (especially regarding rising US LNG exports impacting domestic gas prices).
Aurora Innovation (AUR): A pioneer in autonomous driving technology (for trucks and robotaxis). The company remains in the R&D phase—revenue of only ~$1.5 million is expected (from pilot projects) with a net loss of ~$0.12 per share. Aurora’s main ‘report’ relates to progress in testing autonomous vehicles. Last week, Aurora announced expanded pilot projects for driverless delivery in Texas, positively received by investors. Today’s release is more about clarifying whether Aurora has sufficient cash reserves (approximately $700 million at the end of September) until technology commercialisation. Focus areas include plans for attracting new capital or partners in 2026 and any details regarding collaborations with logistics giants (e.g., FedEx, Uber Freight) in the sphere of autonomous trucking.
Fastly (FSLY): A US provider of content delivery (CDN) and cyber security services. After several years of losses, Fastly is nearing profitability: a small profit of ~$0.06 per share is expected compared to losses a year previously, with revenue of ~$161 million (+15% year-on-year). The company has successfully implemented a strategy for improving efficiency—in 2025, Fastly updated its product line, focused on large enterprise clients and streamlined costs. Investors will examine growth metrics regarding customer numbers and average revenue per customer: competition with Cloudflare and Akamai remains a serious challenge, so Fastly's progress in offering additional services (API protection, edge-computing) is essential. The market is also awaiting 2026 forecasts: whether Fastly will continue its double-digit sales growth and generate stable positive free cash flow.
Confluent (CFLT): A developer of data streaming processing platforms based on Apache Kafka. Strong financial results are anticipated: revenue of ~$308 million (+~18% year-on-year) and earnings of ~$0.10 per share (a minor loss was recorded a year ago). Confluent's business shows steady growth, although its pace has slightly slowed as the company scales. However, the key context is not just the numbers, but the recent deal: in December 2025, it was announced that IBM would acquire Confluent for approximately $11 billion. Thus, this report could be one of the last from Confluent as a public company. Investors will carefully study whether the company meets its quarterly targets (which is important for assessing the fairness of the deal price) and what comments are made regarding integration with IBM. Currently, CFLT shares are moving in line with the merger arbitrage with the acquisition price, but any complications (e.g., regulatory issues) or improvements in fundamental metrics may impact the deal spread.
Cognex (CGNX): An American manufacturer of machine vision systems, in high demand for production automation. Forecast: revenue of around $239 million (+4% year-on-year) and earnings of ~$0.20 per share. Following the pandemic-induced boom in automation, Cognex faced a cooling demand in 2025 (particularly from electronics), although the automotive and logistics sectors support sales. Investors expect updates regarding the launch of the new unified Cognex One platform, aimed at simplifying the integration of machine vision solutions in enterprises. Also on the agenda is the state of supply chains (sensitive for Cognex’s advanced camera technology) and the prospects for a return to double-digit growth considering improvements in the macroeconomic environment.
CVS Health (CVS): A diversified company encompassing a pharmacy network and an insurer (via Aetna). The report is released in pre-market; analysts forecast ~ $1.00 adjusted earnings per share with revenue around $85 billion (+8% year-on-year). The main drivers are growth in the pharmaceutical segment (retail pharmacies and PBM services) and health insurance. However, net profit for 2025 may have fallen due to one-off write-downs and integration costs from new acquisitions (in 2023, CVS acquired medical companies Oak Street Health and Signify Health). Investors will assess the health of these new divisions (primary care and home services) and how they improve business synergy. A crucial aspect will be confirmation from management of the 2026 forecast: CVS earlier set a target of $7.00–$7.20 earnings per share in 2026, and the market is keen to know whether these targets remain achievable amidst changes in the healthcare market and possible regulatory reforms on drug pricing in the US.

European Companies

Europe is also experiencing a busy day for quarterly earnings reports from a number of corporate leaders. One of the main events will be the release of results from TotalEnergies (France)—one of the world's largest oil and gas companies. The company has already indicated that Q4 2025 figures will be comparable to last year’s: a roughly 5% year-on-year increase in oil and gas production and record refining margins will offset declines in commodity prices, thus profits are expected to remain near Q4 2024 levels (consensus ~$1.80 per share). Investors are interested in how TotalEnergies will allocate its high cash flows: generous dividends and continued share buybacks are likely to be announced. The company may also present its updated views on capital investments in energy transition projects (renewable energy, hydrogen) and plans to maintain stable oil production levels.

Other major European corporates publishing earnings today include French premium optics manufacturer EssilorLuxottica and engineering software leader Dassault Systèmes. Their results will reflect consumer demand for luxury goods (glasses from brands such as Ray-Ban and Oakley) and the business's investment in digital solutions (3D modelling, PLM), respectively. Both companies are expected to show strong revenue growth in the area of 5–10% year-on-year, maintaining high profitability.

Reports from European industrial and consumer giants will also be released. In the Netherlands, the results of brewing conglomerate Heineken will come out: following a weak summer, the company may have increased beer sales in the autumn, although inflationary costs (grain, energy) could have weighed on operating margins. Overall, investors predict moderate revenue growth for Heineken (~+5%) with stable earnings and will look forward to forecasts regarding the European and Asian markets for 2026. French tyre manufacturer Michelin is likely to report stable revenue, supported by demand for premium tyres for electric vehicles and trucks, though raw material price increases (rubber, oil) may slightly reduce profitability—markets will assess how well Michelin has been able to pass costs onto customers and what demand for its products looks like in China and North America.

In the European banking sector, results from Commerzbank (Germany’s second-largest bank) and ABN AMRO (a large Dutch bank) will be in focus. Thanks to higher ECB interest rates in 2025, banks likely witnessed growth in interest income and margin expansion. However, investors will analyse asset quality: have banks created additional reserves for potential problem loans amid an economic slowdown? Commerzbank is expected to show quarterly profits at or slightly above the previous year's level (benefitting from increased corporate lending rates), while ABN AMRO, which focuses on the retail market, may have increased profits amid rising mortgage rates. Any management statements regarding dividend payouts or share buybacks will also impact share prices.

Of particular note is the situation with Siemens Energy (Germany)—this industrial giant publishes its report today amid significant troubles in its subsidiary Siemens Gamesa (wind energy). Siemens Energy previously warned of multi-billion losses due to defects in wind turbine blades and repair costs; the company even received state guarantees for financial support. Therefore, a quarterly loss is expected and possibly a lack of dividends. Investors will pay close attention to comments regarding the rescue plan: what outcomes to expect in 2026, whether parts of the business will be sold, or if restructuring of offshore wind businesses will occur. Any progress in negotiations with the government or creditors (e.g., increased credit lines) will be crucial for restoring confidence in Siemens Energy shares.

Asian Companies

In the Asia-Pacific region, 11 February is relatively quiet regarding major corporate releases, partly because it is a public holiday in Japan (stock exchanges are closed). Nevertheless, the macro context from Asia is significant: weak CPI data in China (mentioned above) indicates a lack of overheating in the economy, which may prompt authorities to stimulate measures—this is a positive factor for the Asian stock market. Investors are also evaluating other data released during the week from the region—for example, trade and inflation statistics from South Korea and Taiwan—to judge the state of global electronics supply chains.

Among specific companies in Asia, it is worth highlighting the previously mentioned Chinese NetEase, whose earnings report (see the “US Companies” section) will serve as an indicator for the entirety of the Chinese tech sector. Additionally, several smaller Asian firms are releasing results today: for instance, Hong Kong-based developer Sunac China is reporting, while in Seoul, chipmaker SK Hynix presented a detailed outlook for 2026 (expecting a recovery in memory demand in the second half of the year). Although 11 February lacks major reports in Asia, the market backdrop is set by expectations of further actions by the authorities: investors anticipate measures to stimulate the Chinese economy ahead of the annual meeting of the National People's Congress this spring. Therefore, any signals from Lavrov’s address regarding Russia-China relations or plans for stimulating domestic demand in China may be perceived sharply by markets in the region.

Russian Companies

In the Russian corporate calendar for 11 February, there are no publications of financial results from the largest public companies. The quarterly reporting season for the fourth quarter of 2025 for Russian issuers will commence later—major state banks and commodity producers will present annual figures only closer to March. Accordingly, local investors are focused on macroeconomic events and external factors. Foreign Minister Lavrov's address in the State Duma may shed light on potential changes in foreign economic policy or sanctions risks, indirectly affecting Russian assets. Trade balance data and weekly inflation figures will provide guidance for the rouble exchange rate and the monetary policy of the Bank of Russia: a sustainable trade surplus and moderate inflation sustain the idea of keeping the key rate unchanged.

Although there are no key corporate releases today, news regarding individual companies may still emerge. Investors should watch out for operational updates: it is common in February for companies to publish production reports or preliminary data. For example, oil and gas giants could report on production volumes for January, metallurgists on product output, and retailers on the dynamics of holiday sales. Any unexpected information could lead to movements in corresponding shares on the Moscow Exchange. Overall, external factors (global data on inflation and unemployment, sentiments in global markets) will become the main guide for the Russian stock market today.

What to Pay Attention to as an Investor

Today’s array of events combines factors that could either support or destabilise global risk appetite. It is essential for investors to carefully analyse incoming information and relate it to their strategies. Below are brief recommendations on where to look:

Macro statistics and central bank policies: Data regarding CPI (inflation) and Non-Farm Payrolls directly affect expectations for rates from the US Federal Reserve, the PBOC of China, and other central banks. A sharp deviation in the indicators from forecasts may trigger a restructuring in investors' assessments—for example, a weak labour market may strengthen discussions about rate cuts by the Fed in March. For Russian investors, although the Central Bank of Russia acts autonomously, it is crucial to consider this global dynamic as it affects capital flows to emerging markets and commodity prices.
Corporate guidance and commentary: Amid the peak of the quarterly earnings reports season, not only the profit/revenue figures but also what management states about the future is of paramount importance. Attention should be paid if companies downgrade forecasts for 2026 or warn of risks—this could indicate a looming slowdown in the sector. For example, Cisco's comments on equipment demand, or Kraft Heinz on consumer behaviour, or TotalEnergies on oil prices—these signals extend beyond individual stocks and influence entire sectors and markets.
Stock market reaction and sector rotation: On days filled with such news, increased volatility is possible. Investors should be prepared for sharp stock price movements, particularly in companies whose reports significantly diverge from expectations. Sector rotation may also manifest: for instance, if technology firms’ earnings disappoint, we might see capital flowing into more defensive sectors (telecoms, healthcare). Similar global trends are reflected in the Russian market—through changes in commodity prices and the sentiment of foreign investors regarding risk assets.

11 February 2026 is one of those days when it is crucial for investors to keep their fingers on the pulse across multiple fronts. Statistics on inflation and employment will set the tone for the macroeconomic picture, while extensive corporate earnings reporting in the US, Europe, and Asia will provide fresh indicators regarding corporate profits and business cycles. In this situation, we recommend investors adhere to a diversified approach: monitor both global indicators (CPI, unemployment, oil prices) and specific news regarding portfolio companies. Careful reading of press releases and participation in conference calls following reports can provide valuable insights into trends that lead the overall market data. Finally, increased volatility on such a day isn’t a reason for panic but a chance for long-term investors to identify undervalued stocks or timely lock in profits on overheated securities. The key is to maintain composure and an analytical approach to correctly prioritise and make informed investment decisions amidst today's information flow.