Detailed Overview of Economic Events and Corporate Reports on January 14, 2026. US Producer Price Index (PPI), Retail Sales Figures, Federal Reserve's Beige Book, China’s Foreign Trade Data, as well as Financial Results from Major US Banks and Companies from Europe, Asia, and Russia.
Wednesday promises a jam-packed agenda for global markets: US December statistics on producer inflation and consumer demand are in sharp focus for investors, with the potential to dictate asset dynamics. Early in the morning, Asia will assess China's foreign trade data, reflecting the state of global demand for goods. During the day, the Russian market will pay attention to the Bank of Russia's plans for foreign currency sales, which may influence the rouble's exchange rate. In the afternoon, a block of crucial macroeconomic statistics will be released in the US (PPI, retail sales, housing market), and in the evening, the Federal Reserve will publish its Beige Book—a review of economic activity across regions. Concurrently, the corporate earnings season will continue; three banks from the "big four" in the US will report their results before the opening of US exchanges, setting benchmarks for the financial sector. Investors will find it vital to compare macroeconomic and microeconomic factors in their totality: inflation and sales ↔ Fed rate expectations ↔ bond yields ↔ bank reports ↔ risk appetite in global markets.
Macroeconomic Calendar (MSK)
- 06:00 – China: foreign trade data for December (exports, imports, trade balance).
- 12:00 – Russia: The Bank of Russia will announce the volume of foreign currency sales in the domestic market for January.
- 16:30 – USA: Producer Price Index (PPI) for December.
- 16:30 – USA: Retail sales (November).
- 18:00 – USA: Existing Home Sales for December.
- 18:30 – USA: EIA crude oil inventories (weekly report).
- 22:00 – USA: Federal Reserve's Beige Book (economic overview by districts for January).
China: Foreign Trade Indicators and Global Demand
- December’s export and import data from China will provide critical signals about the state of global trade at the end of 2025. Investors will evaluate whether Chinese exports have stabilised after a period of decline: an uptick in the figures will indicate a revival in foreign demand, while a continued decrease will reaffirm ongoing global weakness. The volume of China’s imports is also significant, particularly for raw materials: increased purchases of oil, metals, and other resources could indicate a strengthening of domestic demand and support commodity prices. A broad surplus in China’s trade balance will serve as an indicator of foreign currency earnings—a factor that influences the yuan’s rate and indirectly affects sentiment in emerging markets.
Russia: Central Bank's Foreign Currency Sales and the Rouble’s Exchange Rate
- The Bank of Russia will announce the volume of foreign currency sales for January at noon—a key parameter for the domestic foreign exchange market. The regulator regularly conducts such operations under the budget rule and to smooth out rouble volatility. An increase in planned foreign currency sales may support the rouble's exchange rate, signalling the authorities’ intention to stabilise the financial market and ensure the execution of budget expenditures. Conversely, if the sales volume turns out to be modest or below expectations, it may weaken the rouble, indicating limited intervention by the central bank. Market participants will closely monitor this information, as it will set the tone for rouble pairs and sentiment on the Moscow Exchange on Wednesday.
USA: Producer Price Index and Retail Sales Figures
- PPI Index: The Producer Price Index for December will show whether inflationary pressure at the producer level continues to slow. Forecasts indicate a moderate increase in PPI, as falling raw material prices and improved supply chains may have restrained production costs. Particularly important is the change in core PPI (excluding food and energy prices)—its continued deceleration will confirm the trend towards easing price pressures in the economy. For investors, PPI data will be one of the benchmarks ahead of the upcoming Fed meeting: weaker growth in producer prices may enhance expectations that the Fed will refrain from further rate hikes, while unexpectedly high producer inflation could drive bond yields higher and exert pressure on the equity market.
- Retail Sales: The retail sales statistics in the US (for November) will allow an assessment of consumer demand strength at the onset of the holiday season. The previous month (October) was sluggish, therefore analysts anticipate a rebound in November due to Black Friday and Cyber Monday sales. A confident increase in retail sales will indicate the resilience of the American consumer despite high rates and prices, which would positively reflect on GDP prospects for the fourth quarter. Particular attention should be given to the core category, excluding automobiles and fuel: an increase in this metric signals a broad base of demand. If sales disappoint again with weak dynamics, concerns will grow in the markets that consumers are beginning to cut back on spending under the influence of inflation and costly credit, which could cool economic growth.
USA: Housing Market and the Fed's Beige Book
- Existing Home Sales: The indicator of sales on the secondary housing market for December will reflect the situation in a key segment of the US real estate market. Earlier, rising mortgage rates and high housing prices led to a downturn in activity: home sales have dropped to multi-year lows. If December sees a continued contraction in sales volume, it will confirm that high mortgage rates are stifling buyers and cooling the housing market. Some stabilisation may be possible as the market adapts to new conditions—in this case, stagnation or a slight increase in the number of transactions will be perceived as a sign of hitting the bottom. Investors monitor the housing market as an indicator of household financial well-being and an early signal of potential issues in the mortgage and banking sectors.
- Fed's Beige Book: At 22:00 MSK, the Federal Reserve will publish a regional economic overview (“Beige Book”), which summarises qualitative reports from the 12 Fed districts. Although this document does not contain specific figures, its tone is essential for understanding business and consumer sentiment on the threshold of 2026. Investors will analyse how the Fed describes the labour market, price pressures, and business activity across different regions. If signs of easing inflation and cooling demand are noted in the report, this will strengthen expectations for a dovish policy in the future. However, mentions of persistent wage growth or a labour shortage may indicate the need for further battles with inflation. Overall, the influence of the Beige Book is indirect, but any unexpected highlights within it could temporarily affect currency and equity markets through adjustments to rate expectations.
Earnings Reports: Before Market Open (BMO)
- Citigroup (C): The major banking conglomerate and one of the "big four" in the US will report before the session begins. For Citigroup, which has a broad international business, investors will assess the performance of the trading and investment banking divisions amidst a revival in the capital markets at year-end. After a lull in M&A activities and placements in 2025, a possible recovery in fee income in Q4 would be a positive signal. Attention will also be on Citi’s consumer banking business and credit cards: an increase in interest income due to high rates may have boosted profitability, but the potential loss reserve figures are crucial as well. Citigroup’s management, undergoing a massive reorganisation, may provide updated guidance for 2026—CEO comments on the global economy and business optimisation plans will set the tone for the bank's stock and the sector as a whole.
- Wells Fargo (WFC): One of the largest retail banks in the US will release results before the opening. The focus will be on net interest margin and lending volumes: how the rate hikes have affected Wells Fargo’s net interest income and whether this has resulted in a deposit outflow searching for higher yields. Investors are also keen to monitor the bank's progress in reducing costs and addressing previous regulatory issues—improvements in operational efficiency may bolster confidence in management. Additionally, Wells Fargo’s report will reveal the state of American mortgage lending and consumer loans: the bank has traditionally been strong in these segments, so dynamics in new issuance and delinquency rates will provide insights into borrower financial health. Any changes in loan loss provisions will be seen as a barometer of the bank's expectations regarding the economic landscape for 2026.
- Bank of America (BAC): Another top American bank from the big four will report on Wednesday morning. Bank of America, with one of the largest deposit bases, has significantly benefited from rising interest rates through increased interest income. However, shareholders are concerned whether expensive money has begun to stifle lending activity: data on the volumes of consumer and commercial loans issued will indicate whether demand for loans persists. Also in focus will be BofA’s trading and brokerage business, as well as asset management (Merrill Lynch): a strong quarter in the markets may have generated good commissions for the bank. CEO Brian Moynihan's comments on the outlook for the US economy are crucial for understanding sentiment in the financial sector—a positive tone and absence of recession worries will support the sector, while cautious statements may amplify investors' concerns.
- Infosys (INFY): One of Asia's largest IT companies (India) will release financial results before the US market opens. Infosys, as a global provider of IT consulting and outsourcing services, reflects the demand for technology services worldwide. Investors will analyse the company’s revenue growth rates in dollar terms: stable double-digit growth will reaffirm the resilience of orders from corporate clients in the US and Europe, despite threats of economic slowdown. Special attention will be paid to operating margins and costs: Indian IT giants face rising salaries and competition, so maintaining profitability signifies effective expense control and pricing strategy. Infosys management's revenue and contract forecasts for 2026 will serve as a barometer for the entire IT services sector, influencing both the stock of competitors in India (TCS, Wipro) and Western investors' expectations regarding corporate digitalisation budgets.
Earnings Reports: After Market Close (AMC)
- Among large US issuers, no financial reports are scheduled for publication on Wednesday evening. After the primary session on January 14, investors do not expect significant corporate surprises—the majority of companies from the S&P 500 and Nasdaq indices have scheduled their releases for the following days of the week. Thus, the news background after the market closes will be relatively calm, allowing participants to focus on analysing the macro data and reports released during the day without additional distractions.
Other Regions and Indices: S&P 500, Euro Stoxx 50, Nikkei 225, MOEX
- S&P 500 (USA): On Wednesday, the US stock market will experience a combination of significant macro releases and the continuing banking earnings season. The morning results of Citigroup, Wells Fargo, and BofA will set the tone for the financial sector: a successful start to reporting may sustain positive momentum, especially if concurrently released inflation data (PPI) is subdued—this would shift investors' focus to corporate performance improvements. However, high PPI figures or weak retail sales could dampen enthusiasm, even with strong bank earnings, as macroeconomic risks will take centre stage. The S&P 500 index reached new highs recently, thus any combination of surprises (both positive and negative) could provoke heightened volatility during the January 14 session.
- Euro Stoxx 50 (Europe): No quarterly reports are planned for European blue chips on January 14, so regional markets will look towards external influences. Investors in Europe are focusing on signals from the US and China: improvements in Chinese exports may lift the shares of the EU’s industrial sector and automotive manufacturers, while weak data from China could negatively affect sentiment. European markets will also assess the Eurozone industrial production statistics for November (publication expected on this day)—although the influence of this indicator is limited, it will show the trajectory of industry before the winter period. In the absence of domestic corporate drivers, Euro Stoxx 50 will react to the dynamics of Wall Street: afternoon US data (PPI, retail sales, housing market) and the tone of the Beige Book could reflect on the euro exchange rate, the European banking sector, and the overall risk appetite on European exchanges.
- Nikkei 225 (Japan): No earnings reports from key companies within the Nikkei 225 index are expected in Tokyo on January 14, but Asian investors will digest fresh data from China and the US. The Japanese market is sensitive to global trade trends and the yen's exchange rate, so strong Chinese statistics could uplift exporter shares, while unexpectedly weak Chinese exports would heighten caution. Moreover, second-tier corporate news continues: for instance, the retail chain Seven & i Holdings will release operational figures reflecting domestic demand in Japan. Overall, the Nikkei 225's dynamics on this Wednesday will largely depend on changes in global risk appetite following US releases: if the combination of PPI, sales, and bank reports calms markets, Japanese stocks may continue to rise; in contrast, heightened concerns may lead the Nikkei into a protective mode with increased attention toward the yen's exchange rate.
- MOEX (Russia): No financial reports from major issuers are expected on the Moscow Exchange on January 14—traditionally, the Russian quarterly results season starts later (in late January to February). Domestic news might be limited to specific corporate events (board meetings, operational reports), but these are unlikely to impact the MOEX index. Thus, the Russian market will follow external benchmarks: the dynamics of oil prices and sentiment on global exchanges. Morning signals from Asia (China's trade data) and afternoon statistics from the US will shape direction for Russian stocks. Additionally, the volume of currency sales announced by the central bank will act as a factor for the rouble's exchange rate: active intervention by the regulator could support the national currency, indirectly improving sentiment in the local stock market. However, the key external factor remains the situation in the energy market—EIA's evening report could cause fluctuations in oil prices, thereby influencing the oil and gas segment of MOEX.
Day's Summary: Key Points for Investors
- US Macroeconomic Data: The publication of the PPI and retail sales figures in the US is the main trigger of the day, capable of setting market direction. High volatility is expected at 16:30 MSK when these figures are released: a significant deviation from forecasts will instantaneously reflect on the dollar's rate, Treasury yields, and global equity indices. A combination of weak producer inflation and strong sales may sustain optimism (as fears regarding rates would abate with simultaneous economic resilience), whereas a high PPI coupled with retail failures would amplify stagflation fears. Investors should swiftly evaluate the balance between inflation risks and demand signals, considering the evening's Beige Book for a fuller picture of the US economy.
- Major Bank Earnings: Results from Citigroup, Wells Fargo, and Bank of America set the tone not only for the financial sector but also for the entire earnings season that has just commenced. Strong profits and optimistic forecasts from the banks may locally outweigh macro news, triggering a rally in banking shares and pulling the entire S&P 500 along. Conversely, weaknesses in the reports (e.g., rising reserves or declining lending activity) could heighten concerns about the state of the economy. Investors should pay attention to bank management's insights regarding the 2026 outlook—their assessments of consumer activity, borrower quality, and the investment climate will provide valuable navigation points for future investment strategies.
- Chinese Indicators and Commodities: Before European trading opens, China’s export/import indicators will be released, influencing sentiment in the commodities sector and emerging markets. If Chinese statistics exceed forecasts, this could bolster oil and metal prices, enhancing forecasts for exporting companies and strengthening EM currencies. Conversely, weakness in China’s foreign trade may trigger a decline in commodity prices and capital outflow from trade-sensitive markets. In conjunction with the evening EIA oil inventory report, this data will help discern the trends in the commodities market: an unexpected decrease in US oil inventories in the evening (18:30 MSK) may strengthen oil prices, while an increase in inventories or weak Chinese exports could cool the oil market temporarily. Investors in commodities and oil and gas stocks should remain alert and prepared for price fluctuations.
- Risk Management in a Multitude of Drivers: The combination of several significant events (US macro data, bank reports, foreign trade indicators from China) creates the backdrop for volatility spikes. On such a day, maintaining risk management discipline is crucial: predefine acceptable movement ranges for key positions, set stop-losses, and limit leverage use. Investors should avoid impulsive decisions during peak news volatility—it's better to wait for the release of all key information (including the Fed's Beige Book later in the day) and analyse its collective impact. Mixed signals (e.g., strong reports, but weak data, or vice versa) may temporarily unsettle the market, therefore a measured approach and diversification will assist in navigating through this event-filled day with minimal losses and readiness to seize emerging opportunities.
