Economic Events and Corporate Reports — Friday, 6 February 2026 Nonfarm Payrolls US, Reserve Bank of India rate, Russian GDP

Key Economic Events and Corporate Reports on Friday, 6 February 2026: US Labour Market Data, RBI Interest Rate Decision, Russia's GDP, Germany's Statistics, and Reports from the World's Largest Public Companies.

On this Friday, financial markets' attention will be focused on significant macroeconomic publications and corporate reports, particularly among CIS investors. The day promises to be eventful, with key decisions from the Reserve Bank of India, industrial production statistics from Europe, important US labour market data (Nonfarm Payrolls), and a slew of corporate reports from major companies. Below, we will review the key events scheduled for 6 February 2026, their expected indicators, and potential market impacts. By the end of the day, investors will need to assess the publication results to adjust their strategies accordingly. A brief overview will help prepare for these events and understand what to anticipate in the markets.

EU: Potential Trade Tariffs Against the US

In light of ongoing trade tensions between the European Union and the United States, investors are monitoring the situation surrounding potential tariffs. Previously, the US considered imposing 10% tariffs on a range of goods from Europe (with possible increases to 25%) due to disagreements over Greenland, but unexpectedly withdrew this threat in January. The European Union has prepared countermeasures, including targeted tariffs of 10%, 25%, and 30% on American products (such as motorcycles, jeans, meat, etc.) that could come into force on 7 February 2026. Following the US's softened stance, the EU has suspended the introduction of these tariffs for six months. However, the possibility of a renewed tariff standoff remains a risk factor. Should rhetoric escalate again, tension may arise in the EU stock markets. Currently, no new measures have been announced in the official plans for 6 February, and it is likely that both sides will continue dialogue following the July trade agreement, which stipulates maximum tariffs of 15% and a phased liberalisation of trade. Investors should take these geopolitical factors into account, although no immediate actions may occur on this day.

India: Central Bank's Rate Decision (07:30 MSK)

Early on Friday, the Reserve Bank of India's (RBI) decision on the interest rate will be announced. The meeting of the Indian regulator is attracting attention as the Indian economy demonstrates robust growth and stabilising inflation. Analysts predict that the RBI will likely maintain the key repo rate at its current level of 5.25%. Recall that during 2025, the Indian central bank reduced the rate by a total of 125 basis points, including a final reduction of 0.25 percentage points in December down to 5.25%. Economists note that the easing cycle is likely over, and the regulator prefers to wait and assess the effect of prior stimulus measures. The decision will be declared at 10:00 Indian time (07:30 MSK) following a three-day meeting. Markets are pricing in an RBI 'pause': maintaining the rate may support the rupee and Indian stocks, while an unexpected move (such as further cuts) would be surprising. Investors with assets in Indian instruments should also monitor the regulator's rhetoric regarding liquidity and inflation — a neutral tone is expected, emphasising stability until macroeconomic dynamics become clearer.

Germany: Industrial Production for December (10:00 MSK)

At 10:00 MSK, Germany's industrial production figures for December 2025 will be released. The previous month (November) showed a month-on-month output growth of +0.8%, better than anticipated, thanks to a revival in the automotive and engineering sectors, although the energy sector had declined at that time. However, economists expect a slight decline in production for December amid weakened external demand. The consensus forecast for month-on-month industrial output in Germany stands at about -0.3% (following a growth of +0.8% in November), while individual models predict a minor increase of around +0.3%. Year-on-year rates may also hover close to zero or negative, considering the high base from the previous year and operational interruptions over the holiday period. For the euro market and European stocks, this data serves as an indicator of the health of the EU's largest economy. If the statistics turn out better than expected (for example, if growth is sustained due to high orders — in December, factory orders in Germany unexpectedly surged by +7.8% month-on-month), this will support the euro and market sentiments on European exchanges. Conversely, weak industrial production will amplify concerns regarding the slowing eurozone economy.

USA: Nonfarm Payrolls for January and Unemployment Rate (16:30 MSK)

The main macroeconomic event of the day will be the publication of the US labour market report for January 2026. Traditionally, the January NFP (Nonfarm Payrolls, the number of new jobs outside agriculture) release garners heightened attention from the Federal Reserve and investors. This time, there is even more interest due to expected data revisions and a hiring slowdown trend. According to the consensus forecast, employment in January is expected to have risen by approximately +70,000 jobs — slightly above December's modest result (~50,000), but significantly lower than average rates from the previous year. Major banks, such as BofA, are even more cautious, forecasting around +45,000 new jobs, citing a weakening labour market and likely statistical revisions. The unemployment rate is estimated to have remained stable at 4.4%, the same as the previous month. Recall that in December, unemployment fell to 4.4% from 4.5% in November, despite modest employment growth of only 50,000. Analysts will closely examine the report's details: sectors creating job growth or shrinkage, trends in average hourly earnings, and revisions of prior months. Even with a moderate increase in NFP around 50-70,000, this figure could be deemed a weak sign of the US economy cooling. For the markets, this could mean a reassessment of expectations regarding Fed policy — a weak report would raise the likelihood of a dovish shift from the regulator and exert pressure on the dollar, while an unexpectedly strong spike in hiring would surprise market participants and contribute to rising bond yields and strengthening the dollar. The baseline scenario remains a moderate employment increase alongside a steady unemployment rate near 4.4%, confirming the picture of a decelerating yet still relatively tight US labour market.

USA: Michigan Consumer Sentiment Index and Inflation Expectations (18:00 MSK)

As the evening approaches, at 18:00 MSK, preliminary data for the University of Michigan's Consumer Sentiment Index for February will be released. In January, American consumers displayed a slight uplift: the final index rose to 56.4 points, up from 52.9 in December, reaching a five-month high. It is expected that in February, confidence might adjust slightly downward — the consensus forecast stands at around 55 points amid persistent inflation and uncertainty. Besides the sentiment index itself, the survey's results on American inflation expectations are of great importance. The January report showed significant declines in short-term (annual) inflation expectations to 4.0% — the lowest level since January 2025, although still above pre-pandemic values. Conversely, long-term (five-year ahead) expectations slightly increased from 3.2% to 3.3%, remaining above the 2.8%-3.2% range observed in 2024. Such figures suggest that consumers anticipate a deceleration in inflation over the next year but remain uncertain about a return to target levels in the long term. Should the February survey indicate further declines in inflation expectations and stability in the sentiment index, this would send a positive signal to the Fed (evidence of strengthening “anchors” of expectations) and to the markets, as it reduces the need for aggressive action from the central bank. On the other hand, an unexpected spike in inflation expectations could alarm market participants. Investors will be closely monitoring these data, as they influence interest rate sentiments and consumer activity.

Russia: GDP for Q4 2025 and Industrial Production (19:00 MSK)

In the evening, Rosstat will publish a block of important macroeconomic statistics for the Russian economy. Firstly, the preliminary estimate for GDP in Q4 2025 will be released. According to officials, Russia's economy grew by approximately 1% in 2025, slowing down from the rapid recovery of the previous two years. In the first nine months of 2025, total GDP growth was 1.0% year-on-year, with a 0.6% year-on-year increase recorded in Q3. Thus, in Q4, rates are expected to be close to zero — likely between 0% to +0.5% year-on-year — which corresponds to an overall picture of stagnation, reflecting external constraints and the exhaustion of post-COVID recovery effects. Investors will assess the extent to which actual figures align with these estimates. Secondly, data on industrial production for December will be released. At the end of the year, Russian industry showed signs of deteriorating dynamics: in November, output fell by 0.7% year-on-year after a 3.1% increase in October, which was worse than forecasted (an expected growth of +1.2%). Preliminary assessments for December are also restrained — the consensus predicted a decline of about 1% year-on-year. If actual figures show a drop close to these values, this will confirm the trend of industrial slowdown towards the year-end. Markets are particularly monitoring the oil and gas sector and manufacturing: preliminary data suggest that for the entire 2025 year, output in the manufacturing sector grew by about +2.8%, whereas extraction may have decreased. The reaction of the Russian stock market and the ruble to the statistics is expected to be limited, as the figures are close to forecasts. However, for domestic policy, signals regarding the resilience of GDP growth (albeit at a low level around 1%) and the industry's readiness for further challenges are significant. Investors should bear in mind that macro factors in Russia are currently secondary to geopolitical factors, although unexpected statistical deviations may influence the ruble's exchange rate and local stock prices in the short term.

Corporate Reports on 6 February 2026

Aside from macroeconomic indicators, on 6 February, the corporate earnings season will continue across various regions. On this day, companies from the US, several European countries, and Asia will present their financial results. Below, we have compiled a list of key issuers releasing their reports, including their tickers, sectors, time of report release, and market expectations.

USA (S&P 500 and Others): Key Reports

* Time is given in Moscow time (MSK). In the USA, most reports on 6 February are released before the market opens (BMO – before market open), as it is Friday.

Among the highlighted American issuers, investors should pay particular attention to Biogen's report, as the pharmaceutical company presents its Q4 2025 and annual results. A revenue decline of nearly 10% (to ~$2.2 billion) and an EPS expectation of ~$1.60 are anticipated, attributed to falling sales of existing treatments for MS and market competition. Management's comments on new drugs and guidance for 2026 will be closely watched. Another interesting release is from Centene: the insurer is likely to showcase significant revenue growth (+18% y/y) driven by the expansion of Medicaid programs, though one-time expenses may result in a net loss for the quarter. This could impact the company's shares, although operating trends are positive. Under Armour will close the week with its report: investors expect to see sales stabilisation in sportswear following a challenging year. The consensus for Under Armour suggests a small loss (~$0.02 per share) with revenue around $1.55 billion, and any deviation could significantly impact shares, given the volatility in the retail sector. AutoNation (examining vehicle sales dynamics and dealership margin sustainability, a stable result is anticipated), Cboe (gains in derivatives trading revenues, consensus for earnings at $2.9/share), and various other companies will also report. Overall, Friday in the USA is less crowded with names than previous days of the week, but data from Biogen, Under Armour, and others will help gauge the health of diverse sectors — from biotech to consumer.

Europe (Euro Stoxx 50): Corporate Reporting Update

In Europe, 6 February marks a relatively quiet day for corporate earnings from major companies. Investors will more likely focus on macroeconomic statistics (as discussed earlier) and the results of already published reports from giants such as Shell and BNP Paribas, which were released on 5 February. None of the companies in the Euro Stoxx 50 index have scheduled financial reports specifically for 6 February. This is attributed to the European earnings season schedule: most leading Eurozone corporations unveil Q4 results later in February or early March. Nevertheless, some mid-tier companies will present their data. For instance, the Norwegian telecommunications operator Telenor ASA will release its Q4 2025 report in the morning hours, while Swedish real estate companies Balder and Hoist Finance will present their reports in the afternoon. Although these firms do not belong to the Euro Stoxx 50, their results may shed light on the state of the respective sectors in Europe — telecom and real estate. Overall, the European stock market on 6 February will be influenced by external signals (from the USA and Asia) and economic indicator dynamics, with expected low volatility from corporate news. Investors in European stocks should prepare for the main flow of annual reports closer to mid-month but should also keep a close eye on any corporate announcements or warnings.

Asia (Nikkei 225): Key Japanese Companies

In the Asian region, the end of the week will be marked by reports from several major companies, primarily from Japan. Toyota Motor — the world’s largest automaker — will present its financial results for Q3 of the 2026 financial year (October–December 2025) on 6 February. This report is crucial for assessing the automotive industry's state: an increase in Toyota's profits is expected due to the weakening yen and strong sales of hybrid models, although analysts will monitor the impact of component shortages and the electric vehicle strategy. Additionally, other heavyweights in the Nikkei, such as the financial conglomerate Mitsubishi UFJ Financial Group (MUFG) and technology giant Sony Group, are expected to release their results (however, their results may be published earlier in the day or after market closure on 5 February). The Japanese stock market has already priced in expectations for positive results, as many corporations have raised their forecasts in response to the depreciation of the national currency and domestic demand. If the reports meet expectations (Toyota's consensus anticipates increased operating profit and confirmation of its annual sales forecast), the shares of these companies and the Nikkei 225 index will receive support. Investors in Asian assets are also advised to pay attention to telecoms — for example, Advanced Info Service (AIS) from Thailand will publish quarterly results early in the morning, potentially setting the tone for trading in Southeast Asia. Overall, on 6 February, Asian markets will react not only to local reports but also to the overall mood resulting from the overnight data from the USA and Europe.

Russia (MOEX): Corporate Calendar

On the Russian market, 6 February does not anticipate the publication of financial reports from major issuers. Annual and quarterly results of companies listed on the Moscow Exchange (MOEX) typically come out later — usually in March-April (annual IFRS) or following the completion of the quarter. Therefore, neither Sberbank nor Gazprom nor other blue-chip firms will provide new data on this day. However, investors should keep in mind that some companies may publish operational production figures for January or offer forecasts for the year during industry events. Additionally, the corporate backdrop in Russia on 6 February will be shaped by external news: oil and metal price dynamics and overarching global risk appetite trends. Thus, it can be said that this day for the Russian stock market will revolve around macroeconomic statistics (GDP and industrial production, discussed above) and external signals rather than internal corporate drivers. Investors on MOEX should utilise the relative calm in the reporting calendar to prepare for the start of the Russian financial reporting season in spring and assess the fundamental ratios of Russian stocks ahead of upcoming releases.

Conclusion: What Investors Should Focus On

6 February 2026 encompasses several themes capable of influencing market sentiment. Investors should assess the outcome of the RBI's decision and data from Europe in the morning, then concentrate on the "super Friday" in the USA — the Nonfarm Payrolls report that will set the trading tone for the afternoon. Important guidance from Russia will be released in the evening, although its influence is primarily local. The corporate outlook is less densely packed than in previous days of the week, but reports from companies like Biogen, Under Armour, and Toyota will serve as indicators of the state of their respective sectors. By evenly distributing attention between macro and microeconomic factors, investors can respond promptly to emerging information. The primary advice is to watch for deviations of actual data from forecasts: it is precisely surprises (be it an unexpected spike in US unemployment, sharp changes in inflation expectations, or surprisingly strong/weak corporate reports) that usually provoke the most vigorous market reactions. May this Friday be productive for you — by thoroughly preparing, you will be well-equipped to make informed investment decisions.