Detailed Review of Economic Events and Corporate Reports for 8 January 2026. German Industrial Orders, Eurozone Producer Price Index (PPI), Consumer Confidence Indicators, Weekly Unemployment Claims in the USA, Trade Balance and Gas Inventory Data, as well as Reports from Major Public Companies in the USA, Europe, Asia and Russia.
Thursday presents a moderately busy agenda for global markets. In Europe, industrial and price statistics take centre stage: fresh data on German factory orders and Eurozone PPI will provide insights into the economic state of the region and inflationary pressures, which are critical for the European Central Bank’s policy outlook. In the USA, attention will focus on the labour market and trade balance: weekly unemployment claims remain a key indicator of economic resilience, coinciding with the release of the trade balance report. Investors will also assess consumer inflation expectations from the New York Fed, seeking confirmations of inflation stabilising at moderate levels. The energy sector will be monitoring the EIA report on natural gas inventories amidst the winter season. On the corporate side, the first earnings reports of the year will be released: a number of American companies from the consumer goods and technology sectors will present quarterly results, while key retailers in Europe will report on Christmas sales. It is essential for investors to consider these disparate signals collectively, to adjust expectations for interest rates, currency exchange rates, and sentiment in risk assets.
Macroeconomic Calendar (MSK)
- 10:00 — Germany: industrial orders (November).
- 13:00 — Eurozone: Producer Price Index (PPI) (November).
- 13:00 — Eurozone: Consumer Confidence Index (December).
- 13:00 — Eurozone: consumer inflation expectations (December).
- 16:30 — USA: initial unemployment claims (weekly).
- 16:30 — USA: trade balance (October).
- 18:30 — USA: natural gas inventories (EIA) (weekly).
- 19:00 — USA: consumer inflation expectations (NY Fed, 1-year) (December).
Europe: Orders in Germany, Producer Prices and Consumer Confidence
- Germany (Factory Orders): The indicator of new industrial orders for November will show whether the recovery momentum in the leading economy of Europe is maintained. In the previous month, an increase in orders was observed, partly due to large contracts, supporting hopes for stabilisation in the industrial sector. Weak November data could confirm continued sluggish demand for goods and heighten expectations for stimulus, while a surprising rise in orders would serve as a positive signal for the German economy and the entire Eurozone.
- Eurozone (PPI): The Producer Price Index for November is likely to indicate a continuation of the trend of easing price pressure at the start of the production cycle. A slowdown or decline in PPI year-on-year reflects the fall in energy and raw material prices compared to last year, alleviating the burden on businesses. For the ECB, PPI dynamics serves as a leading indicator of future consumer inflation: persistently low PPI will bolster confidence that inflation will decline and strengthen arguments for a sustained pause in interest rate hikes.
- Consumer Confidence and Expectations: Simultaneously published household sentiment indices in the Eurozone will provide insights into how Europeans close the year. The consumer confidence index for December is expected to remain in negative territory but show moderate improvement against a backdrop of slowing inflation and rising wages. A key component will be the indicator of inflation expectations among the population: if expectations for the year ahead decrease or remain around recent levels, it will confirm that the ECB's efforts to instill confidence in price stability are working. Improved consumer sentiment could support the prospects for the retail and service sectors in the EU, while pessimism may dampen the recovery of domestic demand.
USA: Labour Market, Trade Balance, and Inflation Expectations
- Unemployment Claims: weekly initial claims in the USA are traditionally viewed as a timely barometer of the labour market. In recent weeks, claims have remained at historically low levels (~200,000), signalling that companies are keen to retain employees despite the high interest rates imposed by the Federal Reserve. Should the upcoming report for the first week of January show claims below 220,000 again, it would confirm the resilience of the labour market and could strengthen hawkish sentiments – a strong labour market allows the Fed to maintain a tighter policy for longer. Conversely, a rise in claims above expectations would be the first sign of hiring weakness and could reinforce discussions about an impending turning point in monetary policy.
- US Trade Balance: The published data on external trade for October will reveal the extent of the trade balance deficit at the beginning of Q4. In September, the deficit in goods and services in the USA narrowed to approximately $53 billion due to increased energy exports and reduced imports. However, in October analysts do not rule out a renewed expansion of the deficit against the backdrop of revived domestic demand and rising oil prices, which could increase the cost of imported fuel. A significant deviation of the actual deficit from forecasts could impact the dollar's exchange rate and assessments of the contribution of external trade to the USA's GDP for the quarter. Investors will also pay attention to export trends: weakening global demand for US goods or a strengthening dollar could affect the revenues of industrial corporations.
- Inflation Expectations (NY Fed): The report from the New York Fed on consumer expectations will be an important complement to the inflation picture. In November, the median expected inflation for the year ahead remained around 3.2%, having dropped significantly over the past year but still exceeding the 2% target. The December survey will reveal how confident American households are in the slowdown of price growth: further reductions in expectations (for instance, to ~3.0%) would be an encouraging sign for the Fed, indicating strengthened confidence in long-term price stability. Conversely, if inflation expectations remain stubbornly above 3% or, worse, start to rise, this would alarm markets as it could compel the Fed to maintain high rates for an extended period. The behaviour of consumer expectations directly impacts bond yields and, consequently, the valuation of high-tech stocks sensitive to changes in the discount rate.
Energy Markets: EIA Report on Gas Inventories
- Natural Gas Inventories (EIA): The traditional weekly report from the US Department of Energy on gas storage gains special significance during the winter season. Previous reports have shown that gas inventories in the USA remain somewhat above the average long-term level due to a mild start to winter and record production. The new release will reflect the volume of gas withdrawals from storage for the last week of December: moderate decreases in inventories due to warm weather could continue to exert pressure on natural gas prices, while an unexpected rise in consumption (for instance, due to colder temperatures) could turn prices upwards. Traders in Europe are also monitoring this data amidst the global integration of gas markets through LNG: stable inventories in the USA indirectly indicate the reliability of liquefied natural gas export supplies, which is crucial for European countries enduring winter. Ultimately, the balance of supply and demand in the gas market on both sides of the Atlantic will influence the stocks of energy companies and currencies of energy-exporting countries.
Corporate Reports: Before Market Open (BMO, USA and Asia)
- Helen of Troy (HELE): The consumer goods manufacturer (brands OXO, Braun, Vicks, etc.) will release results for the third quarter of the 2026 fiscal year before market open. Investors will focus on sales dynamics in the home goods and health product segments against the backdrop of the festive season, as well as the recovery of margins. The company has previously faced increased costs and supply chain issues, so the market will be looking for signals of profitability improvement and updated management forecasts for the year.
- Neogen Corporation (NEOG): The biotechnology company, specialising in food safety testing and veterinary diagnostics, will report prior to market opening. This will be the report for the second quarter of the 2026 fiscal year, the first complete quarter following the integration of recently acquired divisions. Investors will assess revenue growth, synergies from merging with 3M's food safety business, and the state of operating margins. Any comments from management regarding demand from the agricultural sector and food producers will be crucial for forecasts of further growth.
- The Simply Good Foods Company (SMPL): The producer of healthy food and snacks (brands Atkins, Quest) will present financial results for the first quarter of the 2026 fiscal year. The festive period traditionally supports snack demand, and analysts expect robust sales growth. A key question will be margin dynamics: investors will track whether the company has managed to contain ingredient and logistics costs to maintain profitability amidst raw material inflation. The company's forecast for the remainder of the year regarding demand trends for protein bars and low-carb products will also influence perceptions of the healthy eating sector's prospects.
- TD SYNNEX (SNX): One of the largest distributors of IT equipment and solutions will report for the fourth quarter of the 2025 fiscal year (as well as the entire FY2025) before trading begins in New York. The results of TD SYNNEX will provide insights into the state of the global technology market and corporate IT spending as the year concludes. Focus areas include revenue and orders for electronics, computing equipment, and software amidst ambiguous demand: previously, some competitors noted a weakening in procurement by small businesses, but robust demand for cloud solutions and corporate infrastructure upgrades could support sales. Investors will also analyse the company's forecasts for the next year and comments on the impact of macroeconomic factors (high rates, geopolitics) on the IT sector.
Corporate Reports: After Market Close (AMC, USA)
- WD-40 Company (WDFC): The iconic manufacturer of lubricants and household chemicals will announce results for the first quarter of the 2026 fiscal year after the close of the US market. Shareholders are interested in whether the company has been able to increase sales volumes of its flagship WD-40 aerosol and accompanying products in key markets (USA, Europe, Asia) amidst economic uncertainty. In the previous quarter, WD-40 showed double-digit revenue growth in the Asian region, and the continuation of this trend would be a positive sign. Also under scrutiny will be the gross margin, given the volatility of prices for raw chemicals and packaging: margin improvement would indicate effective pricing and cost-reduction measures. Management's forecast for the remainder of the financial year regarding demand from industrial and household consumers will set the tone for the company's stock.
Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX
- Euro Stoxx 50: On January 8, there are virtually no significant corporate reporting releases from companies in the pan-European index; macroeconomic data (German orders, Eurozone price statistics) and reactions from the currency and commodity markets will set the tone for trading in Europe. Additionally, trading updates from major British retailers are expected: on this day, Christmas sales reports will be presented by giants such as Marks & Spencer (MKS) and Tesco (TSCO). A successful holiday season in the UK retail sector could support positive sentiment in the European consumer market, whereas weak results could heighten concerns about household expenditure cuts.
- Nikkei 225: In Japan, the corporate calendar for January 8 is sparse, as the primary earnings season will commence later in January. Trading on the Tokyo Stock Exchange will mainly be influenced by external signals – the performance of Wall Street on the previous day, currency fluctuations, and investor sentiment towards the technology sector. The absence of internal drivers means that the Nikkei 225 index will likely trend in line with global risk appetite trends. Asian markets, in general, will continue to monitor the prospects of monetary policy in the USA and China, which dictate capital flows into the region.
- MOEX: The Russian market remains in a state of low activity on this Thursday due to the New Year holidays (official holidays in Russia are extended until January 8 inclusive). No significant corporate reporting is scheduled on the Moscow Exchange, so trading sentiment will be shaped by external factors – oil and gas prices, the dynamics of global stock indices, and forex exchange rates. Investors in the Russian market will be focused on how global data and corporate reports might impact risk appetite and will prepare for a revival in trading next week when the holidays conclude.
End of Day: What Investors Should Focus On
- 1) European Indicators: The morning data from Germany and the Eurozone will set the tone for the session in the EU. Strong orders from German enterprises and a low PPI could support the euro and stocks in the industrial sector, reinforcing hopes for a soft landing for the economy. However, weak statistics would heighten expectations for stimulus policies, which could simultaneously weaken the euro and increase interest in exporters on the exchange.
- 2) Signals from the USA: The block of daytime publications in the USA (labour market, trade balance, inflation expectations) will be a key driver for dollar-denominated assets in the second half of the day. Particular attention will be on the number of claims for unemployment benefits: further confirmation of labour market strength could trigger a rise in treasury yields and place pressure on technology stocks. Conversely, if the data indicates economic cooling (rising unemployment, increasing trade deficit, heightened inflation expectations), investors may switch to a cautious mode, supporting bonds and defensive sectors.
- 3) Corporate Reports and Forecasts: The first publications of company results in 2026 will provide local insights for movements in individual stocks. Reports from Helen of Troy and other consumer companies will clarify the state of consumer demand in key markets, while TD SYNNEX's results will indicate trends in corporate IT spending. In Europe, reports from retail chains (M&S, Tesco) will serve as indicators of consumer behaviour during the festive period. Positive corporate releases could enhance investor sentiment in the respective sectors, while disappointments could limit the growth of stock indices.
- 4) The Energy Factor: Data on gas inventories in the USA and any changes in energy prices will remain in focus, especially for investors in European and Russian markets. A decrease in gas or oil prices due to a mild winter and high inventories would support the transportation and chemical sectors, but could weigh on the shares of oil and gas companies. Conversely, a sudden price spike in energy resources would immediately impact inflation expectations and the profitability of energy-intensive enterprises. Thus, investors should consider energy markets when balancing their portfolios on this day.
