Economic Events and Corporate Reports — Thursday, 22 January 2026: World Economic Forum, US CPI and US GDP

Detailed Overview of Economic Events and Corporate Reports for 22nd January 2026. World Economic Forum in Davos, Key US Economic Indicators (CPI Inflation, PCE Index, GDP for Q3, and Labour Market), Oil and Gas Statistics from EIA, as well as Quarterly Reports from Major Companies in the US (Intel, Procter & Gamble, etc.), Europe (LVMH, etc.), Asia, and Russia.

Macroeconomic Calendar (MSK)

1. 16:30 – US: Consumer Price Index (CPI) for December 2025.
2. 16:30 – US: GDP for Q3 2025 (final assessment).
3. 16:30 – US: Initial jobless claims (weekly).
4. 18:00 – US: PCE Price Index (Personal Consumption Expenditures) for November 2025.
5. 18:30 – US: Natural Gas Inventories (EIA), weekly report.
6. 19:00 – US: Kansas City Fed Manufacturing Activity Index (January).
7. 20:00 – US: Commercial Crude Oil Inventories (EIA), weekly report.

US Inflation: CPI and PCE Index

• Core inflation (Core CPI, Core PCE) is the primary benchmark for the Fed's future actions. A decline in core CPI/PCE towards target levels will support markets (growth stocks and bonds); conversely, a rise in inflation will heighten expectations for policy tightening, pushing government bond yields higher and dampening interest in risk assets. The dynamics of housing and service prices are particularly important: a slowdown indicates easing inflationary pressure, while sustained growth suggests inflation inertia.
• Market reaction: inflation data will dictate the dynamics of the US dollar and interest rates. A decrease in CPI/PCE will weaken the dollar and lower yields, which is positive for tech stocks and gold prices; a higher index, on the other hand, will strengthen the USD and weigh on high-risk assets (including tech companies).

US Economy: GDP and Labour Market

• US GDP (Q3 2025) – final assessment of economic growth rates. Confirmation of robust economic expansion is expected. Strong GDP growth signals consistent consumer demand and investment despite the effect of high rates, whereas a downward revision would indicate a more severe economic slowdown under their pressure.
• Labour market: the number of new jobless claims is a leading indicator of employment conditions. A low number of claims confirms ongoing tightness in the labour market and wage growth pressures; an increase in this figure could signal early signs of hiring weakening and reduced inflationary pressure. Investors will compare this data with recent trends in unemployment and payroll figures.

World Economic Forum in Davos

• Global leaders, central bank heads, and major corporate executives are discussing economic and socio-political issues at the forum. On day four of Davos, statements regarding worldwide economic prospects, inflation, and monetary policy may arise. Investors are closely watching for signals from representatives of the Fed and ECB, which could influence market expectations.
• Beyond macroeconomics, the forum also addresses long-term developmental topics – from artificial intelligence and the digital economy to climate initiatives and the 'green' transition. The outcomes of these discussions shape perceptions of future investment trends: from technology regulation to new sustainable development projects.

Energy: EIA Oil and Gas Inventories

• Oil (EIA): the weekly report from the Energy Information Administration on US crude oil inventories will reflect the short-term market balance. A larger-than-expected inventory decline will indicate robust demand or reduced supply – a factor for rising oil prices and support for oil and gas company stocks. Conversely, an increase in inventories signals an oversupply or weakened demand, potentially putting pressure on oil prices.
• Natural gas: EIA data on gas storage reveals inventory dynamics amid winter. A swift inventory decline (e.g., due to cold weather) will drive gas prices up and support revenues for gas production and utility companies. However, if inventories decrease slowly thanks to mild weather and remain high, this could restrict price growth and impact sector profitability.

Earnings Reports: Before Market Opening (BMO, US and Asia)

• Procter & Gamble (PG) – the global leader in the consumer products sector will present its results for October to December. Investors will assess organic sales growth and the impact of pricing strategies: has P&G maintained volumes amid price increases and inflationary pressure? Also in focus will be margins across key product categories and management’s outlook for 2026.
• Abbott Laboratories (ABT) – a major medical and pharmaceutical company will report revenues from its core divisions (medical devices, diagnostics, pharmaceuticals). Special attention will focus on sales of cardiology and diabetes equipment, as well as demand for diagnostic tests. Abbott’s results will provide signals regarding the state of the global medical technology and services market.
• Bank Central Asia and First Abu Dhabi Bank will present their reports, allowing for an evaluation of the banking sector's state in Asia and the Middle East.

Earnings Reports: After Market Close (AMC, US)

• Intel (INTC) and KLA Corp (KLAC) – the semiconductor sector is in focus this evening. Intel will present its Q4 2025 results: the market will keenly observe revenue figures in the data centre and PC segments, as well as demand forecasts for chips (including those used in artificial intelligence). KLA, a producer of equipment for the chip industry, will complete the picture: order volumes for lithography and measurement equipment will provide insights into chipmakers' capital investment plans. Collectively, the reports from Intel and KLA will set the tone for the entire technology sector.
• Intuitive Surgical (ISRG) – the developer of robotic surgical systems will announce quarterly results. Key metrics include the number of new Da Vinci systems installed and the growth in operations performed using them. These metrics reflect the penetration of robotic surgery: increased demand will support revenues and service income, while a slowdown will indicate market saturation. Investors will also evaluate the company's margins.
• Capital One (COF) – a major credit card issuer will reveal insights into consumer lending. The dynamics of issued loan volumes and delinquency rates will illustrate how households manage debt obligations in a high-rate environment. An increase in reserves for potential losses will raise alarm bells, while stable figures will confirm sustained demand.
• CSX Corp (CSX) – one of the largest railway operators in the US will provide insights into freight transportation. Volumes of various freight categories and tariff dynamics will reflect the level of business activity in industry and trade. An increase in volumes signals strengthening economic activity, while a decrease could be an early indicator of a slowdown.

Europe Earnings Reports: LVMH and Others

• LVMH Moët Hennessy Louis Vuitton – the world’s leading luxury conglomerate will disclose sales data for Q4 2025. Investors await information on demand dynamics for premium brand products in China, the US, and Europe during the festive season. Particularly important are performance metrics for the fashion and leather goods division, as well as segments for watches/jewellery and the wine and spirits business. A successful quarter for LVMH would bolster the entire luxury sector, whereas signs of a slowdown could indicate weakened consumer demand in the premium niche. (It is worth noting that the results from Christian Dior SE, LVMH’s main shareholder, will largely reflect the same trends.)
• Bankinter (BKT) – the Spanish bank will publish a report shedding light on the condition of the Eurozone banking sector. The market will assess the growth of interest income from lending amid rising ECB rates, dynamics of mortgage and corporate lending in Spain, and the quality of assets (level of non-performing loans). Strong results will affirm the stability of the Spanish economy, while weak figures will serve as a warning signal for the European banking sector.

Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX

• Euro Stoxx 50: On 22nd January, the European market will primarily depend on external factors. Reactions to US data, the outcomes of discussions in Davos, and the dynamics of oil prices and the euro exchange rate will set the index's tone. A strong report from LVMH may support the luxury stock segment in France, but overall the Euro Stoxx 50 will follow the global investor risk sentiment.
• MOEX / Russia: There are no significant corporate events scheduled for this date – the primary stream of annual reports is expected in February-March. Thus, the external backdrop (oil prices, rouble exchange rate, global risk appetite) will be key drivers for the Moscow Exchange. Geopolitical news or sanctions can cause individual fluctuations.

Day Summary: What Investors Should Pay Attention To

• 1) US Inflation: The release of CPI and PCE data is the main focus of the day. Deviations from projections will immediately reflect on Fed rate expectations and bond yield movements, sparking volatility in the stock market (especially in the tech sector) after 16:30 MSK.
• 2) Economic Momentum: The combination of GDP and labour market metrics will indicate the resilience of growth. Strong figures will bolster confidence in the economy (but also the probability of tighter Fed policy), while weak results could raise expectations for a dovish shift in regulator rhetoric. This will impact risk appetite – from dynamics in the S&P 500 / Nasdaq indices to sentiments in emerging markets.
• 3) Commodity Markets: EIA reports on oil and gas may trigger price movements in energy resources. Watch how oil responds to inventory data – a price increase would support energy company stocks and commodity currencies (rouble, Canadian dollar), while a price drop would weaken these market segments.
• 4) Corporate Surprises: Key reports of the day (Intel, P&G, LVMH, etc.) will locally impact the respective sectors and indices. Unexpectedly strong results in technology or consumer sectors will improve overall market sentiment, while disappointments will amplify sell-offs in affected industries. The balance between macro and micro factors will dictate market directions.
• 5) Risk Management: On a day filled with numerous events, it is essential for investors to remain cautious. It would be prudent to pre-define acceptable fluctuation ranges for key portfolio assets and establish trigger levels for orders. Utilising limit orders and hedging instruments will help limit potential losses during sharp market movements.