Key Economic Events and Corporate Reports for Wednesday, December 17, 2025: Inflation in the UK, Eurozone, and Russia, EIA Oil Inventory Data in the US, Earnings Reports from Major Public Companies.
Inflation in the UK: Ahead of the Bank of England's Decision
The UK inflation data for November will be released at 10:00 MSK. Annual consumer price inflation is expected to remain around 3-4% y/y, possibly slightly faster than the October figure (~3.6% annually). Inflation in the UK has significantly decreased from double-digit peaks earlier this year, yet it still exceeds the Bank of England's target level of 2%. This subdued price movement heightens expectations that the Bank of England may lower its base rate for the first time in a couple of years during its meeting on December 18. A significant slowdown in CPI would increase the likelihood of easing monetary policy, whereas an unexpectedly high spike in inflation would prompt the regulator to exercise caution. The market will closely monitor the morning release as it sets the tone for movements in the British pound and UK equities.
Inflation in the Eurozone: Close to the Target Level
The statistical office of the European Union will publish the final CPI index for November at 13:00 MSK. Preliminary estimates suggest that annual inflation in the Eurozone is around 2.2%, slightly up from 2.1% in October. This level is nearly aligned with the European Central Bank's (ECB) target of 2%, indicating successful moderation of price growth relative to previous years. Core inflation remains slightly above the overall figure (approximately 2.4% y/y) but also shows a declining trend. Confirmation of moderate inflation will bolster confidence that the ECB, after a series of interest rate hikes, will pause its current policy. Overall, stable price metrics in Europe reduce pressure on the regulator and support expectations for gradual inflation return to the target, which is positive for European markets.
US Oil Inventories (EIA Report): Impact on the Commodity Market
The EIA's weekly report on US crude oil inventories will be released at 18:30 MSK. Last week's data indicated a decrease in inventories by approximately -1.8 million barrels (after a slight increase the previous week), reflecting resilient fuel demand. New figures will show whether this trend continues; analysts do not rule out further reductions in inventory levels of 1–2 million barrels, though an unexpected increase in inventories may occur due to seasonal factors. For the oil market, this is a key indicator of supply and demand balance. A substantial decrease in inventories could support oil prices, while an increase would add pressure to quotations, particularly given the recent market weakness—just yesterday, WTI fell to $56 per barrel, reaching the lowest levels in months amid concerns of oversupply in early 2026. Investors in the oil and gas sector will closely analyze the EIA publication, as it can lead to significant price fluctuations in oil and shares of commodity companies.
Inflation in Russia: Slowing Ahead of the Central Bank of Russia's Decision
At 19:00 MSK, new data on consumer inflation in Russia will be released. As of November, annual price growth in Russia has noticeably slowed—officially, inflation has decreased to approximately 6.6% y/y (compared to 7.7% in October), marking a two-year low. This slowdown has exceeded analysts' expectations and indicates a weakening of price pressure due to a tight monetary policy and the ruble's strengthening in the fall. Weekly indicators for the first weeks of December also suggest a continuation of this trend (for example, at the end of November, the weekly price increase fell to a negligible 0.04%). This dynamic fosters optimism that the Bank of Russia at its upcoming Board of Directors meeting on December 19 may initiate a cycle of interest rate cuts. Currently, the rate stands at 16.5% annually, and the market's main forecast is a reduction of 0.5 percentage points (to 16.0%). However, much depends on the current inflation data: if the new report indicates an unexpected spike in prices in early December, the Central Bank may opt to hold its position. Investors will closely evaluate the published figures, as they directly affect the regulator's rhetoric and decision, subsequently impacting the bond market and banking sector.
Corporate Reports in the US: Focus on the Tech Sector and Consumer Market
The US equity market will receive a series of corporate news as several companies from the S&P 500 will report earnings, setting the tone for their respective sectors. Some reports will be released before the US market opens (around 14:00 MSK), while others will follow after market close later in the evening.
- Micron Technology (NASDAQ: MU): One of the largest semiconductor manufacturers will report its Q1 results for the 2026 fiscal year (release expected after market close). Analysts anticipate a sharp increase in results due to heightened demand for memory chips for artificial intelligence: consensus forecasts suggest Micron's earnings could reach ~$3.8 per share (up from $1.8 a year earlier), with solid revenue growth. Investors will pay particular attention to management's outlook on the memory market and chip prices—an optimistic outlook could uplift not only Micron's stock but also the entire tech sector.
- General Mills (NYSE: GIS): The consumer goods food company will present results for Q2 of the 2026 fiscal year (before market opens). Analysts expect a decline in results compared to a strong prior year period: the consensus forecast anticipates revenue to drop by about 8–9% year-on-year and adjusted earnings per share to fall approximately 25–30%. Pressures on General Mills' sales arise from heightened competition and the normalization of demand following pandemic-related spikes, in addition to unfavorable exchange rates. Investors will seek signals of margin stabilization and effectiveness of cost-cutting measures within the report.
- Jabil Inc. (NYSE: JBL): The large contract manufacturing company will publish Q1 financial results for 2026. Being part of the S&P 500 and serving tech giants, its performance may serve as a barometer for industrial demand. The market expects stable results amid growth in electronics and electric vehicle orders. Jabil's management comments on supply chain status and demand from major clients (such as cloud tech and automotive segments) will be crucial for assessing the industrial sector's prospects.
- The Toro Company (NYSE: TTC): The manufacturer of lawn care and irrigation systems will report its Q4 results for the 2025 fiscal year. Although Toro is less known to the broader public, its results are of interest regarding the state of the construction materials and infrastructure market in the US. Analysts expect moderate revenue growth due to consistently high demand from public utilities and sports facilities, but investors will focus on management's forecasts for the upcoming year. Any signs of demand deceleration for Toro's products could affect valuations within the industrial sector.
- Raymond James Financial (NYSE: RJF): The financial company (investment bank and broker) will publish operational metrics for November. The report will disclose information on commission income, client assets volumes, and other key metrics. These figures will provide insights into how recent stock market fluctuations have impacted client investment activity. Strong results from Raymond James may indicate favorable conditions for brokerages and Wall Street banks moving into year-end, while weak outcomes will point to investor caution and reduced trading activity.
Europe and Asia: A Pause in the Earnings Season
No major corporate quarterly earnings releases are expected in the European and Asian markets on December 17. The earnings season for key indices in the region, such as Euro Stoxx 50 and Nikkei 225, has already concluded, thus corporate surprises for the day are not anticipated. Investors in these markets will primarily focus on external factors—macroeconomic statistics and news flow—due to the absence of fresh reports. Some individual companies may hold investor days or publish operational metrics, but the impact of such events will be limited to localized effects. Overall, for Europe and Asia, this Wednesday will pass relatively quietly on the corporate front, shifting market participants' attention to global trends and inflation data.
Corporate Events in Russia
The Russian corporate calendar for December 17 also lacks financial reporting publications from leading issuers—the quarterly earnings season has concluded. No major companies in the Moscow Exchange index are reporting on this day. However, one noteworthy event for shareholders is that Renaissance Insurance will conduct a dividend cutoff. December 17 is the last day to be included in the shareholder register eligible for dividends for the first nine months of 2025. This means that investors holding shares until the end of trading on Wednesday can expect the announced dividend payments. Such corporate events typically have no significant impact on the market as a whole but are important for holders of specific securities. Otherwise, the news flow for the Russian market will be shaped by macroeconomic inflation data and external factors.
What Investors Should Focus On
- Morning CPI data in the UK (10:00 MSK) and Eurozone (13:00 MSK) will set the tone for European markets and influence expectations regarding the Bank of England's and ECB's interest rate decisions.
- EIA oil report (18:30 MSK) will be a key evening event for commodity markets: inventory dynamics in the US will directly reflect on oil prices and shares of oil and gas companies.
- Corporate reports from the US (throughout the day) may induce movements in specific sectors: strong results from tech firms (such as Micron) could support the Nasdaq, whereas weak reports from the consumer or financial sector may adversely affect the broader market.
Investors are advised to closely monitor the release of these data and reports throughout the day. Unexpected deviations from forecasts can enhance market volatility, yet simultaneously create opportunities for adjustments in investment strategies ahead of the new year.
