Detailed Overview of Economic Events and Corporate Reports on Tuesday, September 23, 2025. Global PMIs, Jerome Powell's Speech, API Oil Report, Micron and AutoZone Results. Analysis of Impact on Global Markets for CIS Investors.
Tuesday, September 23, 2025, is set to be a busy day for global markets. Investors are closely monitoring a series of key economic indicators — from purchasing managers' indices (PMIs) worldwide to speeches by central bank heads. The day's agenda also includes significant geopolitical events: a meeting is scheduled between Russian Foreign Minister Sergei Lavrov and US Representative Marco Rubio at the United Nations General Assembly, drawing attention to the prospects for bilateral dialogue. Simultaneously, numerous major companies across various sectors will be releasing financial results, including American giants Micron Technology and AutoZone. This kaleidoscope of events will require investors to make timely assessments and be prepared to react to new data.
The day will be dominated by global PMIs and signals of monetary policy, which set the tone for equity, bond, and currency markets. In the morning, attention will shift to activity indicators in Asia and Europe, which will provide insights into the economic health across different continents. As the evening approaches, focus will turn to the United States, where, alongside macroeconomic statistics, Fed Chair Jerome Powell will speak — his rhetoric is capable of influencing interest rate expectations. Data from commodity markets, including the API oil inventory report, are particularly important for commodity currencies and the Russian market. To conclude the day, investors will evaluate corporate reports: Micron's results will provide guidance for the technology sector, while AutoZone's report will clarify the state of the retail automotive business. Below, we’ll examine each event in detail and its potential impact.
Asia: PMI from Australia and India, Trading Pause in Japan
- 02:00 MSK – Preliminary PMI indices for Australia for September (Manufacturing, Services, Composite). Early data from the Australian economy will help assess the dynamics of the industrial and services sectors. Stable readings may indicate ongoing recovery, while an unexpected decline could signal external risks for the region.
- 08:00 MSK – Preliminary PMIs for India (September). This comprehensive business activity indicator from one of the largest emerging markets will be crucial. Strong Indian PMI figures will affirm resilience in the country’s services and industrial sectors, while a slowdown may heighten concerns over global demand.
- Japanese Markets – The Tokyo Stock Exchange (Nikkei 225 index) will be closed on Tuesday due to a national holiday. The absence of trading in Japan means that the Asian session may proceed in a calmer manner, without guidance from one of the region's key markets.
Europe: Preliminary PMIs for Germany, Eurozone, and the UK
- 10:30–11:30 MSK – A series of preliminary business activity indices in Europe for September. At 10:30, Germany's manufacturing PMI will be released, followed by the Eurozone's composite PMI at 11:00, and the UK's PMI at 11:30. Analysts expect moderate growth to continue without sharp changes. Stable PMIs in Germany and the Eurozone signal that the region's economy is holding off recession, despite past energy crises. For the UK, the PMI data will reflect industry and services performance amid post-Brexit realities and high inflation. The reaction of European markets (DAX, FTSE 100, EURO STOXX 50) will depend on whether the figures meet forecasts: deviations may affect the euro and British pound exchange rates.
Geopolitics: Meeting between Lavrov and Rubio at the UN General Assembly
- On the sidelines of the 80th session of the UN General Assembly in New York, a meeting between Russian Foreign Minister Sergey Lavrov and US Representative Marco Rubio (who holds a key position in the current US administration) is scheduled. Investors will be closely watching for signals from this meeting: discussions may encompass future bilateral economic cooperation or resolution of current geopolitical conflicts. Any signs of warming relations between Moscow and Washington could lower global tension levels, while hardline statements may remind markets of the persistent risks of sanctions and trade barriers. Although the immediate impact on financial markets from this diplomatic discussion is limited, the overall news backdrop from the UN can influence investor sentiment, particularly in the emerging markets segment.
USA: Business Activity, Housing Market, and Industrial Index
- 16:45 MSK – Preliminary Composite PMI for the US for September (S&P Global). This index of business activity in the US manufacturing and services sectors serves as an immediate barometer for the state of the American economy. A result above 50 will indicate expanding activity. Investors in US equities and the dollar will scrutinise this figure: an acceleration in PMI growth could bolster expectations of economic resilience, while a decline in the index may intensify discussions about a possible slowdown by the year’s end.
- 17:00 MSK – US statistics: existing home sales for August and the Richmond Fed’s manufacturing activity index for September. The US housing market is influenced by rising rates, so data on home sales will reveal how buyers are responding to more expensive loans. Simultaneously, the Richmond Fed index will provide further insights into the industrial sector on the East Coast. If home sales continue to decline and the manufacturing index appears weak, it will signal further economic slowdown. However, unexpectedly strong figures may support a positive outlook on Wall Street.
Central Banks' Rhetoric: Powell (Fed) and Macklem (Bank of Canada)
- 19:35 MSK – Public speech by Jerome Powell, Chair of the US Federal Reserve. Following the recent easing of Fed monetary policy, markets are eager to understand the regulator's future plans. Any comments from Powell regarding inflation, the labour market, or upcoming rate changes will be carefully analysed by analysts. If the Fed Chair confirms a willingness to keep rates low to support growth, it could provide a boost to stock indices. But hints of concern over inflation or financial instability could raise volatility and adjust expectations around interest rates.
- 21:30 MSK – Speech by Tiff Macklem, Governor of the Bank of Canada. The Canadian central bank will also be in focus, particularly following recent rate decisions. Macklem may address issues around inflation in Canada, commodity price dynamics (a key factor for the Canadian economy), and the state of the global economy. For the currency market, comments from the BoC head are crucial, particularly concerning the Canadian dollar (CAD). Signals regarding potential policy changes or risk assessment in his speech may influence CAD currency pairs and the sentiment of North American investors overall.
Oil Market: API Oil Inventory Report
- 23:30 MSK – Weekly report from the American Petroleum Institute (API) on oil inventories in the US. This late release could set the tone for energy prices at the beginning of Wednesday. If the API reports a significant decrease in oil and petroleum products inventories, it will point to high demand or limited supply, potentially supporting prices for WTI and Brent crude. Conversely, an unexpected accumulation of inventories could trigger a short-term price drop. For Russian investors, API data is particularly relevant, as oil dynamics directly impact the ruble’s exchange rate, shares of oil and gas companies, and the overall risk level in the domestic market.
Corporate Reports in the USA: Micron and AutoZone Lead the Day
- AutoZone (USA, S&P 500) – Publication of financial results for the fourth quarter before the market opens in the US. As the largest auto parts retailer, AutoZone has displayed resilient demand amid the increasing average age of vehicles on the roads. Investors will assess whether AutoZone has managed to maintain double-digit earnings growth per share through product expansion and a share buyback programme. The company’s results will serve as an indicator of consumer spending on auto maintenance, potentially influencing the performance of the entire US retail sector.
- Micron Technology (USA, NASDAQ) – Quarterly report will be released after the close of the US markets. As one of the world’s leading memory chip manufacturers, Micron is of particular interest amid the AI boom and heightened demand for high-bandwidth memory (HBM) for data centres. Investors anticipate improved financial metrics from Micron after a downturn in the semiconductor industry. Management’s forecasts regarding memory chip demand will act as a barometer for the entire technology sector: optimistic comments could lift the Nasdaq and competitor stocks, while cautious guidance or weak revenue could cool risk appetite in the tech segment.
- Other Companies in the USA – In addition to the two aforementioned giants, a number of mid-cap American companies are set to report earnings on this day. Among them are AAR Corp (aviation services), MillerKnoll (furniture manufacturer), and Worthington Industries (metals production). Although their results may not garner much attention compared to Micron and AutoZone, locally they could cause movement in their respective sectors. Overall, the impact of these reports on the broader market will be limited, so the primary focus will remain on the day’s flagships.
Europe and Other Regions: Company Reporting
- Smiths Group plc (UK) – Publication of financial results for the fiscal year. This British engineering and industrial group (focused on equipment for energy, medical, and security sectors) will present data that reflect the state of industrial demand in Europe. Strong results from Smiths will indicate sustainable investments from the corporate sector, while weak figures may raise concerns regarding an industrial downturn in the region.
- Kingfisher plc (UK) – Report for the first half of the year. As the owner of retail chains for home improvement goods (including Castorama), Kingfisher serves as an indicator of consumer activity in Europe. Sales data from Kingfisher will reveal how European consumers are spending on home repairs and improvements amid rising inflation. This retailer’s earnings report could affect stocks in the DIY (Do-It-Yourself) sector and comparable companies on European exchanges.
- TUI AG (Europe) – Operational update for the fourth quarter (pre-close trading update). One of the world’s largest tourism groups will provide preliminary results for the summer season. Investors will evaluate resort occupancy rates and the profitability of the travel business in light of open borders and the recovery of travel. If TUI reports a strong summer season, this will bolster stocks in the tourism and aviation sectors. Conversely, weak performance or cautious forecasts may heighten concerns about the recovery of global tourism.
- Russian Market – The earnings reporting season for the first half of the year at the Moscow Exchange is drawing to a close. On September 23, no new financial reports from major MOEX issuers are expected. Russian investors will continue to process previously published company results and focus on external factors — oil prices, the ruble exchange rate, and global trends that influence the local market.
Summary of the Day: What Investors Should Focus On
On Tuesday, a comprehensive picture of the global economy and market sentiment is being formed. Investors should pay particular attention to PMI dynamics: alignment of the figures with forecasts will confirm the stability of current growth, while unexpected declines could trigger corrections in the stock markets and currency movements. Jerome Powell's speech is a key highlight of the day: if the Fed Chair hints at the regulator's future actions, this will impact bond yields and the demand for risky assets. At the same time, signals from the UN General Assembly (diplomatic meetings) create an environment of geopolitical risks that investors from emerging markets cannot afford to ignore.
On the corporate front, Micron Technology's report has the potential to set the tone for the entire technology sector — both in the US and on global markets, given the interconnectedness in supply chains. The results from AutoZone and other companies in the consumer sector will reveal whether purchasing activity remains robust in the US domestic market. Lastly, commodity traders will be monitoring API oil data: the reaction of oil prices will reflect on the currencies of commodity-exporting countries (including the ruble) and the stocks of energy companies. Thus, September 23 demands a global approach from investors — monitoring multiple market segments simultaneously. Diversifying risks and being prepared to rapidly reallocate assets in response to new data will help navigate this news-heavy day effectively.
