Economic Events and Corporate Reports January 5–9, 2026: Constellation Brands, Jefferies, Tilray, CPI, and Nonfarm Payrolls

Weekly Overview 5–9 January 2026: Key Economic Events and Corporate Reports. Focus on Constellation Brands, Jefferies, Tilray, Inflation (CPI), PMI Indices, and the US Labour Market (Nonfarm Payrolls).

The upcoming first full week of the new year (5–9 January 2026) promises a rich flow of macroeconomic publications and the commencement of corporate reporting. The quarterly earnings season is just beginning to gain momentum, as major public companies from the US, Europe, and Asia will present their financial results, while investors worldwide will be closely monitoring key inflation indicators (CPI) and business activity (PMI). The week will culminate with data from the US labour market (Nonfarm Payrolls report), which could significantly influence sentiment across global markets. These events may reflect on the dynamics of global stock indices – from the S&P 500 and Euro Stoxx 50 to Nikkei 225. The Russian market will start the year with a shortened week due to New Year holidays, but the international investment community will focus on global indicators. Let's review day by day what the markets can expect and what events investors should pay attention to.

Monday, 5 January 2026 – PMI in Asia, Inflation in Turkey, and ISM Manufacturing Index in the US

The week begins with a relatively calm external environment. Investors will evaluate fresh business activity indices from Asia while keeping an eye on inflation trends in emerging markets. There are minimal major corporate publications on this day, so attention shifts towards general macroeconomic trends. After the holiday weekend, the market is also processing significant news that was released during the weekend, including data on automobile deliveries.

Before Market Open:

Tesla – the electric vehicle manufacturer, reported its fourth-quarter 2025 deliveries (approximately 418,000 vehicles) over the weekend. Although the figure was lower than last year's level, it sets the tone for the EV sector and may impact automaker stocks on the first trading day of the year.

Economic Events (MSK Time):

03:30 – Japan: PMI manufacturing index (December). A reading is expected to hold below 50 points, indicating ongoing contraction in production; any unexpectedly strong data could support the Nikkei 225 and strengthen the yen.
04:45 – China: Caixin services PMI (December). This publication will reflect the state of China's service sector at the end of the year; if the PMI exceeds forecasts, it will signal robust domestic demand, improving sentiment in Asian markets.
10:00 – Turkey: Consumer Price Index (CPI) for December. Year-on-year inflation in Turkey is expected to be around 30–32%, just below November's level. A deceleration of inflation could support the Turkish lira, while an unexpected acceleration would increase pressure on the Central Bank of Turkey and the local market.
18:00 – US: ISM manufacturing index (December). The forecast is around 47–48 points, indicating continued contraction in US manufacturing. A result lower than expectations could heighten concerns about economic slowdown and briefly weaken the S&P 500, while a stronger PMI would support the market.

Investor Conclusion: Monday will start without major shocks – there are few macroeconomic events, and trading may proceed in a moderate manner. The main focus will be on the PMI data from Asia and inflation in Turkey: their outcomes will reveal the economic mood at the start of the year. The absence of significant corporate earnings reports shifts the focus to overall market indicators. Investors will also take into account the news regarding Tesla's quarterly deliveries, setting the tone for the automotive and technology sectors on the first trading day of 2026.

Tuesday, 6 January 2026 – Global Services PMI Indices, Ukraine Meeting, and Reports from Next and AAR

Attention on Tuesday will turn to business activity indices in the services sector across several key economies, from Asia to America. These indicators will enable an assessment of how confidently the global services sector completed the previous year. Additionally, the political agenda will be highlighted by an international coalition meeting in France addressing the situation in Ukraine. On the corporate front, the first reports from retailers and industrial companies will signal the state of affairs in their respective sectors.

Before Market Open:

Next plc – a leading British clothing retailer, will present its trading report covering the Christmas season (Q4 Trading Statement). Strong holiday sales may boost retail stocks in Europe and indicate robust consumer demand in Britain, whereas weak results would alert investors regarding the sector.

After Market Close:

AAR Corp (AIR) – an American aviation service company, reporting for Q2 2026 financial year. AAR's results (aircraft maintenance and repair) will provide insights into the aviation sector's health; rising revenues signal increased demand for air travel, potentially supporting airline sector stocks.

Economic Events (MSK Time):

01:00 – Australia: Services PMI and composite PMI (December). It is expected that the figures will remain around the neutral level of 50 points; improvement above 50 will indicate recovery in the Australian economy at year-end, while a decline will heighten concerns about growth slowdown.
08:00 – India: Services PMI and composite PMI (December). The Indian services sector has shown steady growth in recent months; another high PMI reading (significantly above 50) will confirm the resilience of one of the fastest-growing economies, supporting optimism in emerging markets.
11:55 – Germany: Services PMI (final data for December) and composite PMI. Preliminary estimates saw around 47 points for services, indicating a contraction. Confirmation of weakness in services within the largest economy in Europe could pressure the DAX, while upward revisions would support the euro and European stocks.
12:00 – Eurozone: Services PMI and composite PMI (December, final estimate). The Eurozone ends the year amid stagnation: PMI readings around 49 points. Investors are awaiting confirmation of this trend; any adjustments could influence expectations regarding the ECB's policy and the Euro Stoxx 50 index movement.
12:30 – UK: Final services PMI (December). The British economy is straddling the edge of contraction, and the services PMI around 50 points supports this. Data without surprises will leave the FTSE 100 stable, while unexpected growth in PMI would strengthen the pound and support the UK market.
16:00 – Brazil: Services PMI and composite PMI (December). The condition of the largest economy in Latin America at year-end will be assessed through these indices; stable or rising PMI will boost confidence in Brazil's recovery, while falls will heighten concerns about the region's prospects.
16:00 – Germany: Preliminary consumer price index (CPI) for December. The forecast suggests a slowing annual inflation in Germany to ~3%. A decline in inflation would boost expectations for a dovish ECB policy and may positively impact the euro, while unexpected price increases would intensify discussions about ongoing inflation combat measures.
17:30 – Canada: Services PMI and composite PMI (December). This publication will provide insights into business activity in Canada's service sector; in conjunction with recent employment data, it will influence the Canadian dollar's performance and market sentiments in Toronto.
17:45 – US: PMI indices (S&P Global) for the services sector and composite (December, final). Preliminary data indicated a slight improvement in business activity (around 49–50 points). Confirmation of PMI growth to 50 or above will be a positive signal for stabilisation in the US economy, while weak indices could heighten recessionary concerns.
00:30 – US: American Petroleum Institute (API) report on oil inventories for the week. The oil market will monitor these figures overnight; a significant reduction in inventories will support oil prices (and stocks of oil companies), whereas an increase may exert short-term pressure on oil prices.

Investor Conclusion: Tuesday's key theme will be global services PMI indices – they will indicate the business sentiment entering 2026. The absence of bold macro data in the first half of the day shifts the focus to corporate and political events: robust trading update from the British Next will indicate consumer activity in Europe, while the "coalition of the willing" meeting on Ukraine may affect geopolitical risks. In the evening, investors will analyse the first reports from American companies (such as AAR Corp) to gauge the state of individual sectors. Overall, the day promises moderate market movements, with PMI data and selective corporate news setting the tone.

Wednesday, 7 January 2026 – Eurozone Inflation, US Labour Market, and a Flood of Corporate Reports

Wednesday will be the most eventful day of the week, combining significant macroeconomic releases and a slew of reports from major companies. European markets will receive fresh data on inflation in the Eurozone, aiding in assessing the ECB's course, while the US will release a whole block of statistics on the labour market and business activity. Investors' attention will particularly be drawn to corporate reports across various sectors – from retail and food to finance and alcohol. Volatility may rise, given the return of global traders after the holidays and the concentrated flow of news.

Before Market Open:

Albertsons Companies (ACI) – one of the largest grocery chains in the US, reporting for Q3 2025 financial year (prior to US market open). Investors will evaluate food sales trends amidst inflation and the merger with Kroger; strong results could support retailer stocks and the entire S&P 500 index.
Cal-Maine Foods (CALM) – the largest egg producer in the US, reporting for Q2 2026 financial year. Cal-Maine's results will reflect the impact of egg prices and feed costs; a rise in profits amidst stabilising prices will indicate a normalisation in the agri-food sector following a volatile year.
Fast Retailing (9983.T) – a Japanese retail giant and owner of the Uniqlo brand, reporting for Q1 2026 financial year. Uniqlo's sales figures in Japan and overseas will be indicators of consumer demand in Asia; a strong report will support the Nikkei 225 and overall sentiment in the global retail sector.

After Market Close:

Jefferies Financial Group (JEF) – investment bank, reporting for Q4 2025 financial year (as well as annual results). Jefferies' results will set the tone for the financial sector: an increase in revenues from investment banking and trading signals improved conditions on Wall Street, while weak figures will raise investor concerns regarding bank profitability overall.
Constellation Brands (STZ) – a global alcoholic beverage producer (brands include Corona beer and Robert Mondavi wine), reporting for Q3 2026 financial year. Investors expect revenue growth, especially in the beer segment in the US market; improving margins amidst steady demand for premium alcohol will support the company’s stock and signal robust consumer demand.
PriceSmart (PSMT) – operator of membership clubs in Latin America, reporting for Q1 2026 financial year. Year-on-year results will reveal whether sales growth in developing economies in the region continues; positive trends at PriceSmart may heighten investor interest in Central and South American markets.

Economic Events (MSK Time):

Holiday: Stock markets in Kazakhstan are closed (Orthodox Christmas); the Moscow Exchange (Russia) is also closed on this day, although the SPB Exchange continues trading in foreign securities.
03:30 – Japan: Services PMI and composite PMI indices (December). Final data for Japanese business activity in services around 53–54 points will confirm strong growth in the sector; this is positive for the Nikkei 225. A decline in PMI would be perceived negatively, especially given a shift in the Bank of Japan's policy.
13:00 – Eurozone: Consumer Price Index (CPI) for December. Preliminary data indicate a slowdown in inflation in the Eurozone (around 2.5% y/y compared to 2.9% previously). Confirmation of this downward trend will alleviate pressure on the ECB regarding further rate increases and likely support European stock indices. However, any unexpected CPI deviation from forecasts (up or down) will instantly reflect on the euro's exchange rate and regional markets.
16:15 – US: ADP employment report for the private sector (December). A gain of around +150,000 jobs is expected. The ADP data serves as a preliminary guide to the official Nonfarm Payrolls report; strong job creation will heighten expectations for a large NFP figure, which may lead to rising bond yields and pressure on high-tech stocks, while a weak report will support hopes for a more dovish Fed policy.
18:00 – US: several publications:
- Factory Orders for October. A slight decrease in orders (-1–2% m/m) is expected due to weakness in the durable goods sector; a sharper decline than forecast may negatively impact industrial sector stocks.
- JOLTS Job Openings for November. The forecast is ~9.5 million openings, slightly below the previous level. A decline in job openings indicates a cooling in the US labour market, reducing inflationary pressures in the long term.
- ISM Services Index for December. A reading around 52 points is expected, indicating moderate growth in services. This indicator is particularly important after weak manufacturing ISM data: if the services sector demonstrates resilience, it will calm markets regarding recession risks.
18:30 – US: EIA's weekly report on oil inventories. Analysts expect a slight change in crude oil inventories. A significant reduction in stocks will be a bullish signal for the oil market, while an unanticipated increase could temporarily weaken oil prices and the stocks of oil and gas companies.

Investor Conclusion: Wednesday provides several indicators for global markets. In the morning, the Eurozone inflation data will be significant: sustained price slowing may drive up European stocks and strengthen the euro, while an unexpected inflation spike would concern market participants. In the afternoon, a series of US indicators – from the ADP report to the services ISM index – will paint a comprehensive picture of the US economy ahead of the key employment report. In this context, corporate earnings play a crucial role: results from Albertsons and Cal-Maine will showcase consumer market conditions and food prices, while the evening reports from Jefferies and Constellation Brands will serve as a 'barometer' for the financial and consumer sectors. It will be essential for investors to correlate all these signals: a combination of moderate inflation in Europe, a stable US labour market, and positive corporate reports may increase risk appetite, while an unfavourable mix (e.g., rising prices with weak corporate results) will raise volatility and caution tendencies.

Thursday, 8 January 2026 – European Data, US Trade Balance, and Reports from Tilray, AEHR, Aritzia

On Thursday, the streak of significant events will continue, although their influence on the market may be mixed. Europe will publish statistics on industrial orders and producer prices, which will assist in understanding the economy's trajectory at the end of 2025. US statistics for the day include fresh data on the labour market (weekly claims) and trade, as well as indicators of inflation expectations – all of which will complement the overall picture formed the day before. The corporate agenda will again take centre stage in the evening: investors will focus on results from companies across various sectors, including the dynamic cannabis sector, high-tech equipment, and consumer fashion.

Before Market Open:

RPM International (RPM) – an American producer of industrial coatings and construction materials, reporting for Q2 2026 financial year. RPM's sales data for paints, sealants, and other materials will reflect the state of construction activity in the US and globally; an improvement in profits will indicate robust demand in the construction sector, potentially supporting industrial stocks.

After Market Close:

Tilray Brands (TLRY) – a Canadian-American cannabis producer, reporting for Q2 2026 financial year. Investors will focus on revenue from marijuana and hemp products sold in the North American market; positive surprises in the report may spark renewed interest in the cannabis sector, which has been lacklustre in 2025.
Aehr Test Systems (AEHR) – an American high-tech company that produces semiconductor testing equipment, reporting for Q2 2026 financial year. AEHR has demonstrated sharp order growth due to demand from electronics and EV manufacturers over the past year. Strong financial results will confirm the preservation of this trend and may lead to a rally in semiconductor sector stocks.
Aritzia Inc. (ATZ) – a Canadian fashion retailer, reporting for Q3 2026 financial year. Aritzia's sales results for fashion apparel in Canada and the US will showcase consumer spending on discretionary goods. Investors expect revenue growth, particularly from online sales; a successful quarter will bolster confidence in the premium retail segment.
WD-40 Company (WDFC) – an American manufacturer of the iconic lubricants, reporting for Q1 2026 financial year. Although the company is small, its products have a global reach; an increase in WD-40 sales on global industrial markets will signal the health of small industrial businesses and infrastructure projects.

Economic Events (MSK Time):

10:00 – Germany: Industrial Orders for November. A slight increase in orders (~+0.5% m/m) after a decline in the previous month is anticipated. An improvement in this indicator would suggest stabilisation in Germany's industrial sector and could give a boost to machinery company stocks. Conversely, a sudden drop in orders would intensify pressure on the DAX index.
13:00 – Eurozone: Producer Price Index (PPI) for November. A decline in industrial inflation in the Eurozone is expected due to falling energy prices. A decrease in annual PPI would confirm the easing of price pressure at the factory level and is likely to be positively perceived by the bond market. However, excessive declines in producer prices might raise questions about demand and company margins.
13:00 – Eurozone: Consumer Confidence Index (December, final estimate) and consumer inflation expectations indicator. These sentiment indicators will show how confident European households are about the economy and what direction they believe inflation is heading. Improvement in consumer confidence and a decrease in inflation expectations would reinforce the view that the ECB is nearing the end of its tightening cycle.
16:30 – US: Initial jobless claims (week). The weekly figure remains at historically low levels (~220–230,000), reflecting still strong labour market conditions. Any significant deviation – an increase above 250,000 or a decrease below 200,000 – will immediately influence sentiment, adjusting expectations regarding Nonfarm Payrolls and Fed policy.
16:30 – US: Trade Balance for October. The US trade deficit is projected to be around $65 billion. A reduction in the deficit owing to an increase in exports will support the idea of a positive contribution of trade to GDP for Q4, while an expansion of the deficit will underscore the pressures from imports and a strong dollar. However, the impact of this data on the market is typically limited.
18:30 – US: Weekly EIA report on natural gas inventories. This publication is important for the energy sector, especially given the winter season. Ongoing declines in gas inventories (due to colder weather) may push natural gas prices upward, while any unexpected increases in inventories might cool the market.
19:00 – US: New York Fed's consumer inflation expectations index for December. This survey shows what inflation level households expect in one year. If inflation expectations decrease (e.g., closer to 3% from ~3.5% previously), the Fed will have an argument to pause interest rate hikes. On the other hand, rising expectations would intensify concerns about entrenched inflation.

Investor Conclusion: Thursday presents a mixed news backdrop, where European statistics intertwine with US data along with a series of niche yet telling corporate reports. For European markets, the morning figures on industry and prices will serve as indicators: positive surprises may lift the euro and stocks, while weakness will escalate discussions about recession risks in the EU. In the US, by the end of the day, investors will analyse new signals on the labour market (claims) and consumer inflation expectations, which are crucial in the context of the upcoming Nonfarm Payrolls report and the next Fed meeting. At the micro level, reports from Tilray and other companies after market closure merit attention: the success of Tilray or AEHR could generate local spikes in volatility within their sectors (cannabis, semiconductors), while the cumulative results of Thursday would help adjust positions ahead of key data on Friday. Overall, investors should prepare for potential market fluctuations, considering the mixed nature of incoming information.

Friday, 9 January 2026 – Chinese and Brazilian Inflation, US Nonfarm Payrolls, and Consumer Confidence

The concluding day of the week will bring the most anticipated macroeconomic release – the US labour market report for December, which traditionally sets the tone for financial markets. In addition to US payrolls, investors will receive inflation data from China and Brazil, as well as assess the state of Germany's industry. Closer to the evening, the University of Michigan will release results from its consumer survey – this sentiment and inflation expectations indicator will lend important context to the overall picture. Few corporate reports are scheduled for this Friday, but in Asia, attention will be drawn to releases from a Japanese electronics manufacturer, whose results are often seen as a leading indicator for the tech sector.

Before Market Open:

Yaskawa Electric (6506.T) – a Japanese manufacturer of industrial robotics, reporting for Q3 2025 financial year. Yaskawa is traditionally one of the first in the industry to report quarterly results: growth in orders for robots and production automation signals a recovery in investment activity in the industry both in Japan and globally. A strong report from Yaskawa could boost confidence in the technology sector and push up Asian tech indices.

Economic Events (MSK Time):

04:30 – China: Consumer Price Index (CPI) for December. Inflation in China remains close to zero: around +0.5% y/y is expected (after 0.4% in November). The low inflation level points to weak domestic demand but provides more scope for government stimulus measures. Any deviations in CPI from zero (e.g., unexpected price increases) could impact the People's Bank of China's policy and market sentiment in Shanghai.
10:00 – Germany: Industrial Production for November. A slight growth in output (~+0.2% m/m) is anticipated after a contraction the previous month. Improved production in Germany towards year-end will be a positive signal for the European economy and support the DAX, while a new decline in production will intensify fears of industrial downturns in the EU.
15:00 – Brazil: Consumer Price Index (CPI) for December. Inflation in Brazil remains moderate due to the central bank's tight policy: around 4.5–5% y/y is expected. The Brazilian CPI data are important for understanding trends in the largest Latin American market; further inflation deceleration may pave the way for interest rate reductions in Brazil, supporting local stocks and bonds.
16:30 – US: Nonfarm Payrolls report for December and unemployment rate. The highlight of the week: the consensus forecast suggests around 180–200,000 new jobs created, with unemployment remaining at 3.7–3.8%. If Nonfarm Payrolls exceed expectations, markets may react with rising Treasury yields and strengthening of the dollar, as a strong labour market raises the likelihood of further Fed actions. A weaker report (especially if coupled with rising unemployment) could conversely trigger discussion of an imminent end to the tightening cycle and might boost stock indices.
16:30 – US: Housing Starts for October. This indicator is released with a lag; it is expected that the data will confirm some slowdown in residential construction in the autumn due to high mortgage rates. While the current release is delayed, it will provide context for assessing the state of the housing market ahead of fresh data for November-December.
18:00 – US: University of Michigan's preliminary consumer sentiment index (for January) and related consumer inflation expectation indicators. A rise in the sentiment index to ~72 points (from 70.6 in December) is expected, aided by declining gasoline prices and a robust labour market. Improved sentiment and decreased long-term inflation expectations (e.g., to 2.9–3.0% from the current 3.2%) would be a favourable signal, confirming that consumers are looking to the future with greater optimism. However, if confidence unexpectedly drops, it would concern markets regarding household spending at the start of the year.
21:00 – US: Baker Hughes report on active drilling rigs (oil and gas). The number of active drilling rigs in the US provides insights into trends in the shale industry; continued reductions in rigs may support energy prices in the long term, while an increase in rigs signals an uptick in production.

Investor Conclusion: On Friday, markets will receive a substantial block of data that could significantly influence sentiment. The main event of the day will undoubtedly be the Nonfarm Payrolls report in the US – it will determine short-term expectations regarding Fed policy and set the tone for the trading session: a strong report may trigger heightened volatility and capital flows towards the dollar, while signs of a cooling labour market would support stocks and other risk assets. At the same time, other indicators should not be overlooked: ultra-low inflation in China and moderate inflation in Brazil will confirm the global trend of easing price pressures, while US consumer confidence data will reveal whether households are ready to spend in the new year. As the week concludes, investors will reassess all the information obtained – from corporate reports from Constellation Brands, Jefferies, Tilray, and others to macro statistics – to fine-tune their strategies. Attention should be paid to how consistent the signals are: if most data points towards the resilience of the global economy amidst declining inflation, this will create a favourable backdrop for continued market growth at the beginning of 2026. Conversely, if indicators prove contradictory, caution and increased volatility may persist in the coming weeks.