Main Economic Events and Corporate Reports on Wednesday, November 5, 2025. Focus on PMI Indexes, U.S. Supreme Court Ruling, and Earnings Reports from Qualcomm, Arm, Snap, Robinhood, Duolingo, and Other Leading Companies. Analyzing Global Market Impact and Investor Recommendations.
Today, November 5, 2025, investors are focusing on key economic indicators and corporate earnings that can significantly influence market sentiment. In the spotlight are PMI data from various regions, a U.S. Supreme Court ruling on trade tariffs, and a series of financial results from major companies. As we enter a new trading day, it is essential to understand the risks and opportunities these events present for investors from the CIS countries and the global market as a whole.
U.S.: Supreme Court, Labor Market, and Business Activity Index
- Supreme Court and Trade Tariffs: Today, the U.S. Supreme Court will hold hearings regarding the tariffs imposed by the Trump administration. The ruling on this issue could affect trade policy and companies in sectors impacted by these tariffs. Investors are weighing the risks for industrial firms and exporters: the removal of tariffs could reduce import costs, but it may also create competition for domestic manufacturers.
- Labor Market (ADP): At 15:15 Moscow time, the ADP report on U.S. private sector employment for October will be released. Following a hiring slowdown over the summer, market participants are looking for signals on whether job growth has resumed. A moderate employment increase will bolster confidence that the economy is "soft landing," whereas weak figures will heighten recession fears. This report will shape expectations ahead of the official labor market data scheduled for Friday.
- Business Activity Indicators (PMI): Throughout the day, final service sector PMI readings for the U.S. for October will be published – S&P Global PMI (at 16:45 Moscow time) and the more significant ISM Services PMI (at 17:00 Moscow time). Forecasts suggest that the ISM index will remain above 50 points, indicating continued growth in the service sector. Stronger-than-expected PMI figures may support the U.S. market, while a downturn in the PMI could signal economic slowdowns and pose risks to investor sentiment.
- Oil Market (EIA): At 18:30 Moscow time, the U.S. Energy Information Administration will release weekly data on oil and petroleum product inventories. The energy sector responds to inventory dynamics: a drop in inventories typically supports oil prices, benefiting oil and gas companies (which is also significant for the Russian market), while increased inventories can pressure prices. Investors are also monitoring how inventory situations align with the broader context of the OPEC+ decision to maintain output levels and sanctions affecting the oil market.
Europe: PMI in Germany and the UK, Industrial Orders and Producer Prices
- Germany and Eurozone – Orders and Prices: In the morning, data on industrial orders in Germany will be released. Previous months showed a decline in orders amid weak external demand, and markets hope for a potential rebound in September. Improvement in this indicator will strengthen faith in the stabilization of the Eurozone's largest economy, while further declines would send a troubling signal. Additionally, Eurostat will publish the Producer Price Index (PPI) for the Eurozone. Continued slowing of production inflation is expected – a decrease in the PPI could indicate easing inflationary pressures, potentially providing the ECB more room for softer policies.
- Service PMI Indexes: Today, the final October PMI data in the services sector will be revealed for several European countries. The focus is on the HCOB PMI for the Eurozone and final figures for the UK. Preliminary assessments indicated stagnation or weak growth: for instance, indexes near 50 points. Confirmation of these values will demonstrate that the European service sector is balancing on the razor's edge of growth and decline. The situation in the UK is similar: the final Services PMI is likely to remain below the neutral level of 50, reflecting ongoing pressure from the Bank of England's high rates on the economy. Any surprises – either up or down – could significantly impact the euro and pound exchange rates, as well as European stock indices.
Russia and Other Emerging Markets: PMI and Interest Rate Decision in Brazil
- Russia – PMI Index: Investors from the CIS will be focused on the PMI business activity index for Russia in October. Preliminary data suggest that the manufacturing PMI remains below 50 points, signaling contraction in the industry. However, the situation in the services sector may have improved: the market expects a figure close to 50 or slightly above, indicating stabilization in activity. An uptick in Russia's PMI would raise optimism regarding business activity in the fourth quarter, while weak numbers would intensify concerns about economic slowdowns amid geopolitical risks and currency fluctuations.
- Brazil – Interest Rate Decision: In the early hours of Thursday (around 00:00 Moscow time), the Central Bank of Brazil will announce its decision on the key interest rate. The current Brazilian Selic stands at 15.00% – a high in recent years, and authorities are under pressure from a slowing economy to consider lowering the rate. Analysts do not rule out that the regulator may begin a cycle of monetary policy easing or at least signal its readiness to lower the rate in the coming months. Any change in the interest rate in Brazil impacts investor sentiment in emerging markets: a rate cut would support Brazilian stocks and currency, while a pause in cuts could momentarily cool the risk appetite in the region.
Asia and the Pacific Region: PMI in China, Bank of Japan Minutes, and Australian Data
- China – Caixin Services PMI: The Caixin Services PMI for China was released in the morning for October. Following recent signals of improvement in manufacturing (Caixin Manufacturing index slightly above 50), investors are keen to see if the services sector supports the recovery trend. A value around 52–53 points is expected, indicating moderate growth in services. An acceleration of activity in China would be a positive signal for commodity markets and Asian stocks, especially amid prior government stimulus. Conversely, if the PMI falls short of expectations, doubts may arise regarding the sustainability of China's economic recovery.
- Japan – Bank of Japan Minutes: The Bank of Japan will release the minutes from its last meeting (the so-called "minutes"). Investors will scrutinize the details of the discussions among central bank officials to gauge the future policy course. In its last meeting, the Bank of Japan maintained an ultra-easy monetary policy but hinted at the possibility of adjusting bond yield control. If the minutes reveal that some board members lean towards tightening policy or a quicker interest rate increase down the line, the yen may strengthen, while the Japanese stock market may react with declines. However, the baseline scenario is one of retained disagreements without immediate changes, which would limit the minutes' market impact.
- Australia and Regional Data: In Australia, PMI indexes and other statistical data are being published that will show the state of the economy after the Reserve Bank of Australia's recent decision to leave the rate unchanged. Robust business activity indicators combined with recent inflation increases will strengthen expectations that the RBA will maintain high rates for an extended period. Conversely, if the PMI indicates a slowdown, discussions about future rate cuts may intensify. In Canada, there is no significant data on Wednesday; however, investors are watching the overall context: the Canadian Ivey PMI index will be released tomorrow, along with employment data at the end of the week. Overall, morning data from Asian-Pacific markets will set the tone: strong reports will drive risk appetite, while weak indicators could heighten caution among trading participants.
U.S.: Corporate Reports Before Market Open
Aside from macroeconomic factors, investors are paying attention to the ongoing corporate earnings season. Today, before the main trading session in the U.S. (prior to market open), results from several major companies that set the tone in their sectors will be released:
- McDonald’s: The world's largest fast-food chain (a component of the Dow Jones index) will present its third-quarter report. Analysts expect revenue growth of approximately 3% year-over-year to about $7.1 billion and a slight increase in profit (forecast ~ $3.33 per share). Investors are curious if McDonald’s continues to demonstrate growth in comparable sales due to price increases and demand for its value menu. Strong results from McDonald’s will signal positive consumer demand both in the U.S. and globally, while poor figures could raise concerns regarding costs and inflationary pressures on consumers.
- Humana: One of the largest health insurance companies in the U.S. will report its quarterly earnings. The healthcare sector is currently in focus due to rising costs and reforms. A solid growth rate of about 8–9% in insurance premiums is expected, which should support revenue. The consensus forecast for Humana's earnings is around $2.90 per share. Investors will look for signals in the report regarding the dynamics of healthcare costs and forecasts for its client base to assess the prospects for the entire health insurance sector.
- DigitalOcean and Unity: From the mid-cap technology sector, cloud provider DigitalOcean and game engine developer Unity Software will release reports before market open. **DigitalOcean** (targeting small and medium businesses in cloud servers) will publish results in the morning; forecasts indicate revenue growth of around 20% year-over-year. Client retention and controlled expenses are critical factors for assessing business resilience. **Unity**, a platform for game development and 3D content, will also report before trading begins. Despite a slowdown in revenue growth (expected to be about +30% year-over-year), investors are waiting for updates on loss reduction efforts and the success of monetization measures (after previously announced changes in licensing). Market reactions to these reports will indicate investors' risk appetite in the mid-cap tech segment.
U.S.: Key Reports After Market Close
The primary block of American corporate earnings for today will be released after the markets close (after 23:00 Moscow time). In the evening, investors will receive financial results from several well-known companies capable of setting the tone for the entire technology and consumer sectors:
- Qualcomm (after market close): One of the leaders in the semiconductor industry will present its results for the fourth quarter of the 2025 fiscal year. Qualcomm's reported results are anticipated to influence the entire technology sector: analysts project ~$10.9 billion in revenue and $2.3 earnings per share (GAAP). Increased demand for chips for vehicles, IoT, and artificial intelligence is expected to offset slowdowns in smartphones – which is what investors are counting on. Special attention will be paid to management's forecasts for the upcoming quarter and comments regarding supply chain and 5G licensing insights. A strong report from Qualcomm could boost the shares of the entire chip sector, while disappointment could heighten caution in the tech segment.
- Robinhood: Fintech broker Robinhood will report its third-quarter results amidst impressive share growth this year (HOOD shares have surged nearly 300% since the start of the year). Market expectations are optimistic: revenue could rise to approximately $1.2 billion (+90% year-over-year) due to increased interest income and a steady influx of new clients. Investors will be keen to see if Robinhood maintained profitability after achieving breakeven earlier in the year, as well as trading activity metrics and client asset volumes. The Robinhood report is vital as an indicator of retail investor interest in the market and the state of the fintech sector.
- Snap Inc.: The developer of the popular messaging app Snapchat will provide third-quarter data on a conference call at 00:00 Moscow time. Following mixed results in the previous quarter, Snap is now expected to report slight revenue growth and audience stabilization. The consensus forecast anticipates moderate increases in advertising sales; however, business margins are under pressure. Investors will focus on user metrics (daily audience, engagement) and the company's forecast for the fourth quarter – traditionally a strong holiday season. The dynamic of Snap's shares post-report will set the tone for other social media and ad-tech companies.
- Arm Holdings: Chip design manufacturer Arm, which has recently returned to the stock market, will report for the second quarter of its 2026 fiscal year. This is one of the first significant reports from Arm since its IPO, and it will attract heightened attention. The market expects revenue growth driven by the expansion of ARM architecture licensing in the server and mobile segments. Investors are also interested in the company’s prospects in the AI chip arena. Given Arm's status as a barometer for the semiconductor industry, its report and commentary could affect valuations for technology IPOs and investor appetite for them.
- Duolingo: Edtech startup Duolingo (language learning platform) will announce results in the evening, riding the wave of its strong business growth. Revenue for the third quarter is expected to have risen ~35% year-over-year, approaching $260 million. Despite a slowdown in growth rates compared to the previous quarter, this result indicates strong user retention and the company's capacity to monetize subscriptions. If Duolingo exceeds expectations or improves its forecasts, it will bolster positive sentiment regarding the online education sector. However, increased marketing expenses or a decline in active users could raise concerns among investors.
- Figma: Figma, a cloud-based design software developer, will hold its financial results release (now Figma is a public company with ticker FIG). The analyst consensus for Figma is an earnings estimate of approximately $0.05 per share with revenue around $264 million for the quarter. This report is particularly interesting given the recent volatility of technology IPO stocks. Investors will assess Figma's user base growth rates, expansion of corporate clients, and the effects of competition (including integrations with Adobe). Positive results from Figma could restore confidence in newly listed names on the stock market, while weak outcomes would heighten caution about highly priced tech newcomers.
- SolarEdge: Solar energy equipment manufacturer SolarEdge will report amid recent challenges – in the previous quarter, the company shocked the market with a guidance cut due to declining demand in Europe, which severely impacted its shares. Investors are now looking for how SolarEdge is managing inventory accumulations and sluggish sales. Revenue declines are expected, and the key question is whether demand will rebound in 2024. SolarEdge's results will affect the entire renewable energy sector: positive news could lift sentiment in “green” energy, while more weak metrics could lead to sell-offs in competitors' shares.
- Other Reports: Among other companies publishing results after market close are **AMC Entertainment** (cinema chain, expected loss of about $0.15–0.20 per share amid gradual recovery in theater attendance), **Applovin** (mobile app monetization platform developer, investors expect revenue and margin growth following success in advertising and gaming), **IonQ** (quantum computing startup – of particular interest for tech enthusiasts while still operating at a loss), **Recursion Pharmaceuticals** (biotech, key data on progress in AI-drug developments), and **Brinks** (security and cash services provider, an indicator of offline business activity). Additionally, **Dutch Bros** (coffee shop chain, experiencing revenue growth due to network expansion in the U.S. West), **Cameco** (largest uranium producer from Canada, results of interest amid a rally in uranium prices), and **Sportradar** (Swiss sports statistics provider, investors will assess growth in data business for betting and media). While each of these companies has its specifics, collectively they will provide a broad view of corporate health – ranging from traditional sectors to cutting-edge industries.
Europe: Corporate Reports and Market Leaders
Important corporate earnings will also be released on European exchanges. Special attention is focused on a company that has become a locomotive of the European market in recent months:
- Novo Nordisk: The Danish pharmaceutical giant and the most valuable company in Europe published its financial results early in the morning (before the Copenhagen market opened). Novo Nordisk, known for its revolutionary weight-loss drug Ozempic, has demonstrated remarkable profit growth in recent quarters due to global demand for diabetes and obesity medications. Estimates suggest that revenue for the third quarter increased at double-digit rates, and profit continued to set new records. Investors will closely monitor management's guidance: will high demand remain, and are production capacities sufficient to meet global interest in their medications? Novo Nordisk's report is critical not only for the company's shares but also for the European market overall – results from such a heavy-weight influence the OMX Copenhagen Index and Euro Stoxx 50, setting the tone for the pharmaceutical sector.
- Other European Companies: Among other reports for the day are several industry leaders. For instance, **Orsted** (Denmark) will publish its results for the first nine months of 2025; it is a key player in the wind energy sector, and its figures will clarify the situation in Europe's renewable energy landscape. Reports from **Rheinmetall** (Germany, defense sector) and **Engie** (France, energy sector) are expected over the week, and investors are already contemplating how geopolitical factors and energy prices have affected their profits. While there are no releases from them today, the market considers the expectations for them. Russian companies do not plan major publications today – the earnings season on the Moscow Exchange is primarily concentrated at the end of October and mid-November. However, investors from the CIS are keeping an eye on financial trends: recent strong results from Sberbank (profit growth for the first nine months) and expectations of earnings reports from oil and gas giants in the coming weeks set the stage for the Russian market.
Conclusion: Risks and Opportunities for Investors
November 5, 2025, is packed with events that could either shake markets or bolster investor optimism. The main risks revolve around potential negative surprises: weak PMIs in key economies could reignite recession fears, and disappointing earnings from corporate leaders could undermine confidence in the prospects of specific sectors. Special attention is given to the U.S. Supreme Court's tariff ruling, as its outcome could change the game for several industries and adjust global trade flows. On the flip side, market opportunities lie in positive news: steadfast growth in the services sector, strong employment data, or impressive corporate profits (for instance, if Qualcomm or Novo Nordisk surpass forecasts) would instill confidence in investors and support a rally in risk assets. For investors from the CIS countries, the current news backdrop serves as an opportunity to carefully assess their portfolios: commodity currencies and stocks will react to statistics from the U.S. and China, while interest rate decisions and company earnings will help adjust expectations surrounding global liquidity and demand. By the end of the day, markets will gain a clearer understanding of where the global economy is headed as the year draws to a close, and this understanding will form the backbone of investment strategies – both in terms of risk mitigation and identifying new growth points.
