Economic Events and Corporate Reports 17–21 November 2025: NVIDIA, Walmart, Target, CPI and PMI of the Week

Weekly Review 17–21 November 2025: Key Economic Events and Corporate Reports. Focus on NVIDIA, Walmart, Target, Inflation (CPI), PMI Indices, Central Bank Decisions, and Global Market Investment Trends.

The upcoming week of 17–21 November 2025 promises a busy flow of corporate reporting and key economic events. The corporate reporting season continues, with major companies from the US, Europe, Asia, and Russia set to present their quarterly results, while investors worldwide will be watching inflation (CPI) and business activity (PMI) indicators closely. These economic events could influence global stock indices—from the S&P 500 and Euro Stoxx 50 to the Nikkei 225 and the Moscow Exchange Index. Let’s take a day-by-day look at what the stock market can expect and what investment events should attract investors’ attention.

Monday, 17 November 2025

At the start of the week, the market atmosphere will be relatively calm, with few major economic events, shifting investor attention towards corporate reports from Asia. Notably, Chinese technology and electric vehicle firms are expected to set the tone for risk appetite in the market.

Before market opening:

XPeng – Chinese electric vehicle manufacturer, Q3 report. Investors will assess the growth rate of EV sales following record deliveries during the quarter.

After market close:

Trip.com Group – Leading online travel service in China. The results will indicate the state of travel demand in Asia and may impact sentiment in the travel sector.

Economic events (MSK time):

02:50 – Japan’s GDP for Q3 (preliminary data). Moderate economic growth is expected; any deviation could impact the Nikkei 225 and the yen’s exchange rate.
16:30 – Consumer Price Index (CPI) for October, Canada. Inflation data for Canada is crucial for understanding global inflationary trends.

Investor takeaway: Monday starts without major global shocks, with limited economic events and stock indices likely trading within a narrow range. The reports from XPeng and Trip.com will centre attention on China: strong results could sustain interest in Asian markets and technology stocks. Overall, the investment community will evaluate the tone of the reports to gauge sentiment in the global stock market. Commodity prices and oil will also remain under scrutiny, as they may influence the dynamics of energy commodity stocks and the Russian market (MOEX) on this day in the absence of significant data.

Tuesday, 18 November 2025

On Tuesday, the focus shifts to corporate earnings from the US and China. The major reports from companies cover the retail sector, technology, and fintech, providing insights into the economic conditions in both the US and China. With minimal macroeconomic releases, corporate results take centre stage.

Before market opening:

Home Depot – Largest home improvement retailer in the US. Q3 report will reveal trends in American consumer spending on home repairs and construction amidst high interest rates.
Medtronic – International medical device manufacturer. Revenue dynamics in its healthcare segments and the company's forecast are important indicators of demand in the healthcare sector.
Baidu – Leading Chinese search engine and AI company. This report will reflect revenue growth from online advertising and cloud services in China; Baidu's advancements in artificial intelligence attract global investor interest.
Klarna – Swedish fintech unicorn (Buy Now Pay Later sector). An update on financial performance and trends in Europe’s fintech sector is expected, crucial for assessing the industry's investment attractiveness.
Weibo – Chinese social media platform (similar to X/Twitter). The report will provide insight into the advertising market and user activity in China.

After market close:

Dolby Laboratories – American audio technology manufacturer. Financial results from this tech sector company may influence assessments of the entertainment industry and technology licensing.

Economic events (MSK time):

03:30 – Minutes from the Reserve Bank of Australia (RBA) meeting in November. RBA comments on the economy and inflation will shed light on prospects for interest rates in Australia.

Investor takeaway: Tuesday’s market participants will focus on corporate earnings as economic events are kept to a minimum. Strong results from Home Depot may bolster retail sector stocks and US indices (S&P 500, Dow Jones), indicating consumer spending resilience and the condition of the housing market. Reports from Baidu and Weibo will serve as barometers for China’s tech sector—any surprises here will reflect on investors’ appetite for Chinese stocks and regional indices. The fintech report from Klarna will provide insights into investments and demand for instalment services in Europe. In the absence of significant macro data, stock markets will primarily respond to the tone of corporate forecasts and management commentary on year-end outlooks.

Wednesday, 19 November 2025

Wednesday will mark a pivotal day of the week as significant macroeconomic releases on inflation coincide with several reports from leading market players. Investors will be anticipating inflation data from the UK and Eurozone, as well as the minutes from the FOMC, culminating with the highlight of the earnings season: NVIDIA’s results, which have become emblematic of the "AI boom". In light of this, volatility may increase.

Before market opening:

Lowe’s – American DIY retailer ranked second after Home Depot. The report will show whether demand for home goods has persisted; comparisons with Home Depot’s results will indicate sector trends.
Target – One of the largest retail chains in the US. Investors will look for sales and inventory data: Target's results serve as an indicator of consumer demand in the sector of staple goods and consumer electronics, influencing the S&P 500.
TJX Companies – Owner of discount retail chains T.J.Maxx and Marshalls. As a leader in the off-price segment, TJX will report on traffic and sales dynamics, which is crucial given shifting consumer preferences towards cheaper goods amid inflation.
Wix.com – Developer of a cloud-based website creation platform (Israel/US). Results from this SaaS company will reflect small business demand for digital services and help assess sentiment in the technology market.

After market close:

NVIDIA – Q3 report from the semiconductor industry leader and frontrunner in AI chips. This report is the culmination of the earnings season: a sharp increase in profit and revenue is expected due to surging demand for AI equipment. NVIDIA's results have the potential to significantly impact the Nasdaq and the entire tech sector: investors will assess whether high expectations are warranted or if signs of a slowdown in the "AI boom" will trigger profit-taking.
Palo Alto Networks – American leader in cybersecurity. The Q1 2026 financial year report will show the state of demand for cloud and network security solutions. Key metrics include revenue growth from subscriptions and the company’s forecast, which impacts the entire cybersecurity sector.
Jack in the Box – Popular fast-food restaurant chain in the US. Financial results will indicate how inflation and changes in consumer spending affect the restaurant industry and the fast-food segment.

Economic events (MSK time):

10:00 – Consumer Price Index (CPI) for October, UK. Inflation rates in Britain (annual and monthly) are crucial for the Bank of England: a slowdown in CPI may heighten expectations of a pause or rate cut.
13:00 – Consumer Price Index for October, Eurozone. Final inflation assessment in the Eurozone is expected to show a slight decrease in annual inflation, which would be positive for the European Central Bank and European markets.
18:30 – Weekly US oil inventory report (EIA). Oil inventory data will indicate the state of the supply-demand balance in the oil market; sharp changes may impact oil prices and stocks of oil and gas companies.
22:00 – Minutes from the last FOMC meeting. Investors will examine the discussions' details from the Fed: any signals regarding future rate policies or inflation assessments will influence bond yields, the dollar's exchange rate, and the overall dynamics of the US stock market.

Investor takeaway: Wednesday carries several signals for global markets. Morning inflation data from the UK and Eurozone confirming a trend of slowing inflation may support European stock indices (Euro Stoxx 50) and strengthen the euro. However, the main highlight of the day will be NVIDIA’s report after market close—results and forecasts from this tech giant will set the tone for investors regarding growth stocks and the entire AI sector. If NVIDIA surpasses expectations, the Nasdaq and broad S&P 500 indices could gain new upward momentum; otherwise, increased volatility and a correction in the tech sector may occur. The FOMC minutes will provide insight into the Fed’s stance on inflation and the state of the US economy—these factors will influence strategic investments and could recalibrate rate expectations. The Russian stock market will lack significant internal drivers, making the dynamics of the Moscow Exchange index largely dependent on external factors—on global market sentiments and oil prices.

Thursday, 20 November 2025

On Thursday, global retail and technology sectors will be in focus, as well as central bank decisions from two major institutions. In the morning, reports from Walmart, the world’s largest retailer, will set the tone for the consumer sector, while the evening will see results from large IT companies. The macroeconomic agenda includes monetary decisions in China and South Africa, along with statistics on the US housing market—all of which help assess the state of the global economy and investment climate.

Before market opening:

Walmart – The world's largest retail chain. The report for Q3 of the financial year 2026 (before the US market opens) is a crucial event of the earnings season. Investors will evaluate sales growth in the US, particularly in the grocery segment, and management comments regarding consumer behaviour in an inflationary environment. Walmart's results could influence the broader market (consumer sector stocks in the S&P 500) and signal the state of the US economy from the "bottom-up."
Bath & Body Works – American retailer of perfumes and cosmetics. Its quarterly report will demonstrate trends in consumer demand for non-essential goods and the effectiveness of margin retention measures amidst changing buyer preferences.

After market close:

Gap Inc. – One of the largest clothing retail chains (brands include Gap, Old Navy, Banana Republic). Investors will monitor sales dynamics and inventory levels ahead of the holiday season: Gap’s results will indicate how inflation and discounts are affecting margins in the fashion retail sector.
Intuit – American fintech company, developer of software (TurboTax, QuickBooks). The Q1 financial report will show demand for fintech services for small businesses and consumers. Intuit’s forecast is important for evaluating sentiment in the technology services and software sector.
Ross Stores – Major American discount retailer of clothing and household goods. Continuing the retail theme, results from Ross (off-price segment) will complement the picture established by reports from Target and TJX: investors will compare traffic and sales metrics to determine whether consumers are continuing to "switch to discounts" in a bid for savings.
Veeva Systems – Provider of cloud-based CRM solutions for the pharmaceutical industry. Veeva's report will reflect spending by pharmaceutical companies on IT and could impact valuations across the entire business software sector, especially in the niche of cloud solutions for medicine.
Webull – Popular trading platform (online broker). Reports suggest the company has gone public, and now the market awaits its financial report. Investors will evaluate growth in user base and trading activity, reflecting the sentiment among retail investors in the stock market.

Economic events (MSK time):

04:30 – Decision from the People's Bank of China on loan prime rates (LPR, November). A maintenance of the base lending rate is expected, but any surprises (such as a cut in LPR) could impact the yuan, investors’ sentiments in Asian markets, and commodity currencies.
10:00 – Producer Price Index (PPI) for October, Germany. Movements in the German PPI (expected to show a year-on-year decline) will confirm the easing of inflationary pressures in Europe’s industry, which bodes well for prospects of lowering inflation (and rates) in the EU.
14:00 – South African Reserve Bank (SARB) meeting on interest rates. The SARB is considering a potential rate cut amidst slowing inflation. The SARB’s decisions are of interest given the trend towards policy easing in emerging markets.
16:30 – Number of initial jobless claims in the US (weekly figure). The US labour market remains strong; however, an increase in claims may signal the beginning of cooling—investors are watching this indicator as a leading economic signal.
18:00 – Existing home sales in the US for October. Sales data will demonstrate how high mortgage rates affect buyer activity. A decline in sales will indicate a continuing cooling in the US housing market.

Investor takeaway: Thursday presents a rich mix of corporate and macro factors capable of influencing the investment climate in varying ways. The morning report from Walmart will set the tone: strong results from the world’s largest employer and retailer could uplift the markets and strengthen consumer sector stocks globally, while disappointment may amplify concerns about consumer spending and inflation. Central bank decisions—especially a potential rate cut in South Africa—confirm the global trend toward easing policies where inflation is brought under control, which is generally favourable for emerging markets and risk appetite. However, investors must maintain a selective approach: technology (Intuit, Veeva, Webull) and retail (Gap, Ross) will respond to their own drivers. Increased volatility may ensue by the end of the day, especially if new signals emerge from the Fed (via the minutes) or unforeseen news arise. The Russian stock market will largely track external movements on this day: stable oil prices and positive indicators from declining global inflation risks may support the Moscow Exchange index.

Friday, 21 November 2025

The final day of the week brings important global economic events while the corporate earnings season winds down. In focus will be PMI indices across several countries and inflation data from Japan, which will help assess the state of the global economy as autumn draws to a close. Although corporate reports are fewer, investors will summarise a busy week and adjust their strategies ahead of the weekend.

Before market opening:

BJ’s Wholesale Club – American chain of wholesale club stores (similar to Costco). The quarterly report from BJ’s will show sales dynamics in the "warehouse" retail format: investors will look for whether there remains an influx of shoppers seeking to save on bulk purchases, which may indicate changes in consumer habits amidst inflation.

After market close:

No major companies will report this day.

Economic events (MSK time):

02:30 – Consumer Price Index (CPI) for October, Japan. Annual inflation in Japan is forecasted to have slightly accelerated for the second month in a row (around 3%), but remains above the target level. The CPI figure will impact expectations regarding the Bank of Japan's policy and may reflect on the yen's exchange rate and sentiments in Tokyo’s stock market (Nikkei 225).
10:00 – Retail sales for October, UK. Sales statistics in the British retail sector will show whether consumers have started to spend more actively with the arrival of autumn. Growth in this indicator may support the pound and stocks of British retailers, while weak data will amplify discussions around demand stagnation.
12:00 – Preliminary PMI indices (for November) for the Eurozone (manufacturing and services). A minor improvement in the Eurozone PMI is expected, but the figure remains around 50 points. These economic events are crucial: an increase in PMI will offer hope for accelerating growth in the EU economy, while disappointment will heighten recession fears.
12:30 – PMI indices in the manufacturing and services sectors in the UK (November, preliminary data). Business activity in the UK remains in focus—a sustained PMI around past levels will indicate that the economy is adapting, while a decline in indices will increase pressure on the Bank of England to stimulate growth.
17:45 – PMI indices (preliminary) in manufacturing and services in the US. Publication from S&P Global: figures are expected to be in line with October. These indices will provide an operational view of economic activity in the US for November: strengthening PMI may drive cyclical company stock prices up, while a decrease may heighten concerns about economic slowdown in Q4.

Investor takeaway: On Friday, markets will absorb a comprehensive block of macroeconomic information. The PMI indices from the US, Europe, and the UK will allow for an assessment of how confidently global business is entering the final quarter of the year. A positive scenario for stock markets will see rising PMIs and improving business sentiments—this will support cyclical stocks and set an optimistic tone for the new week. Conversely, if business activity disappoints, investors may shift to defensive assets, apprehensive of growth slowdown—especially given that inflation (e.g., in Japan) remains high. Nonetheless, easing inflation in most regions and signs of control (from Britain to the Eurozone) instil confidence that global central banks will avoid tightening policy. Coupled with the winding down of the corporate earnings season, these conditions create a more predictable market. Oil prices towards the end of the week could react to PMI reports: weak activity may signal a decrease in demand for energy resources, potentially applying downward pressure on oil prices temporarily. Ultimately, both private and institutional investors will wrap up the week, balancing optimism from declining inflation risks with caution over growth rates as they plan their year-end investments.