Investor Calendar July 27–31, 2026 — Fed Rate, U.S. and Eurozone GDP, PCE Inflation, Bank of England, China PMI, OPEC+, and S&P 500, Euro Stoxx 50, Nikkei 225, MOEX Reporting

Overview of Key Economic Events and Corporate Reports for July 27–31, 2026: FOMC Meeting and Interest Rate, U.S. and Eurozone GDP, PCE Inflation, Bank of England Decision, China's PMI, OPEC+ Meeting. Reports from Apple, Microsoft, Amazon, Meta, Coca-Cola, Boeing, Visa, Shell, Chevron, and S&P 500, Euro Stoxx 50, Nikkei 225, and MOEX

The week of July 27–31, 2026, will be one of the busiest in the investor calendar over the summer. In this five-day period, we will see the FOMC meeting, preliminary GDP estimates for the U.S., Germany, and the Eurozone, the Bank of England’s interest rate decision, June PCE inflation, July PMI from China, and a peak wave of corporate earnings for the second quarter of 2026. During these five sessions, reports will be released from Microsoft, Meta, Apple, Amazon, Coca-Cola, Boeing, Visa, Ford, Shell, Mastercard, Chevron, and dozens of other issuers from the S&P 500, Euro Stoxx 50, and Nikkei 225 indices. Meanwhile, the earnings season in Russia is just gaining momentum following the reduction of the key rate by the Bank of Russia to 14.00% per annum on July 24. Below is a day-by-day breakdown of economic events, corporate reports, and what investors should pay attention to.

Monday, July 27, 2026: Ifo, Durable Goods Orders, and the Week's Kickoff

The week starts with a moderate macroeconomic backdrop, but it is Monday that sets the tone for European markets.

• 11:00 MSK, Germany — Ifo Business Climate Index (July). A key leading indicator for the Eurozone's largest economy. Investors are assessing how the German industrial sector is recovering from the energy shock of spring and how companies perceive the rising cost of credit amid the tightening rhetoric from the ECB.
• 15:30 MSK, U.S. — Durable Goods Orders (June). An indicator of business capital expenditures. The volatile transportation component can distort the headline figure, so the market will look at core capital goods orders — a proxy for investment activity ahead of the FOMC meeting.

Corporate Reports. Before the market opens, results will be published by Japanese optical and printing equipment manufacturer Canon (Nikkei 225) — the first of the Asian heavyweights to kick off the April–June earnings season — and Bank of Hawaii. After market close, reports will come in from REIT operator for healthcare properties Welltower, semiconductor automation developer Cadence Design Systems, steelmaker Nucor, electronics contract manufacturer Celestica, insurers Cincinnati Financial and Principal Financial Group, broker Brown & Brown, Spanish telecom Telefónica, networking solutions developer F5, and clinic operator Universal Health Services. The pairing of Nucor and Celestica will provide the first insights into demand in metallurgy and electronics, while Cadence will be an indicator of capital expenditures in the semiconductor industry.

Tuesday, July 28, 2026: U.S. Macroeconomic Statistics, Geopolitics, and Reports from Coca-Cola, Boeing, and Visa

Tuesday will be the most data-heavy day of the week for U.S. statistics.

1. 06:00 MSK — Speech by the head of the Reserve Bank of Australia; the tone of comments is important for AUD and the entire commodities sector.
2. 15:15 MSK — Employment data according to ADP (weekly estimate).
3. 15:30 MSK — U.S. trade balance for June: an indicator of tariff effects on imports.
4. 16:00 MSK — S&P/Case-Shiller Home Price Index (May).
5. 17:00 MSK — CB Consumer Confidence Index (July) and Richmond Fed Manufacturing Index (July).
6. 23:30 MSK — API oil inventories.

Geopolitical Background. A meeting is scheduled in Washington between Donald Trump and Volodymyr Zelensky. Special attention will be given to the speech of the U.S. President at the farewell ceremony for Senator Lindsey Graham (sanctioned by Russia's Financial Monitoring Service), who passed away on July 11. Rhetoric surrounding "hellish sanctions" against Russia may directly impact oil prices, the ruble exchange rate, and the Moscow Exchange index.

Corporate Reports. Before the market opens — Coca-Cola, Boeing, Corning, Unilever, Air Liquide, S&P Global, Sherwin-Williams, Royal Caribbean, Hilton, and PayPal. After market close — Visa, Seagate, Rio Tinto, Waste Management, Mondelez, NXP Semiconductors, Bloom Energy, Teradyne, Ford Motor, and KLA. Key themes of the day: Coca-Cola's margin amidst a weak dollar, Boeing's delivery rates, Visa's payment volumes as a barometer of consumer spending, and Ford's profitability outlook for electric vehicles.

Wednesday, July 29, 2026: FOMC Meeting — The Main Event of the Week

The central event of the week will be the FOMC decision at 21:00 MSK and the press conference of Fed Chair Kevin Warsh at 21:30 MSK. The rate has remained in the 3.50–3.75% range for the fourth consecutive meeting, with the June dot plot indicating that nine out of nineteen committee members expect an increase in borrowing costs by the end of 2026, and the inflation forecast has been raised to 3.6%. The futures market is assigning a low probability to a July increase, but a tightening in September is already partially priced in. For investors, the wording of the statements is more critical than the numbers themselves: the new format of the Fed's statement lacks forward guidance, shifting the entire informational load to the press conference.

• 04:30 MSK — Consumer inflation CPI in Australia for Q2 2026.
• 17:30 MSK — EIA oil inventories in the U.S.
• 19:00 MSK — Weekly consumer inflation in Russia; after the key rate reduction to 14%, each weekly figure strengthens or weakens expectations for the meeting on September 11.

Corporate Reports. In the morning — Procter & Gamble, Amphenol, UBS, Vertiv, General Dynamics, ADP, Johnson Controls, Deutsche Bank, and GE HealthCare. In the evening — the most anticipated pair of the season: Microsoft and Meta Platforms (recognized as an extremist organization and banned in the Russian Federation), along with Lam Research, Arm Holdings, Qualcomm, Fortinet, Equinix, Robinhood, O’Reilly Automotive, and Chipotle. A key question for the entire market will be the dynamics of capital expenditures on AI infrastructure and the profitability of the Azure cloud segment.

Thursday, July 30, 2026: U.S. and Eurozone GDP, PCE, Bank of England, Apple, and Amazon

Thursday combines three macro blocks with the peak of corporate earnings.

1. 11:00 MSK — Germany's GDP for Q2 2026 (preliminary).
2. 12:00 MSK — Eurozone GDP for Q2 (preliminary): a check on the resilience of the European economy after the ECB's deposit rate hike to 2.25%.
3. 14:00 MSK — Bank of England interest rate decision. The base scenario is to maintain the rate at 3.75% amidst hawkish dissenters; a new Monetary Policy Report will be published. The regulator's head will speak at 16:15 MSK.
4. 15:30 MSK — U.S. GDP for Q2 (preliminary), PCE price index for June, and initial jobless claims. Core PCE is the Fed's preferred inflation indicator and will be released after the FOMC decision, increasing the risk of a sharp re-evaluation of expectations.
5. 17:30 MSK — EIA natural gas inventories.

Corporate Reports. Before the market opens — Mastercard, Shell, Anheuser-Busch InBev, BBVA, Bristol Myers Squibb, American Electric Power, Regeneron, Xcel Energy, Exelon, and Yum! Brands. After market close — Apple and Amazon, along with Stryker, Monolithic Power Systems, Coinbase, Roblox, Strategy, Eversource Energy, Reddit, and Rivian. Thursday evening will be the actual culmination of the U.S. earnings season: Apple and Amazon account for a significant share of the S&P 500 index, and their forecasts for the fall quarter could set the market's direction for all of August.

Friday, July 31, 2026: China's PMI, Eurozone Inflation, and Month-End Closing

• 04:30 MSK — Manufacturing, Services, and Composite PMI for China in July, along with Australia's industrial inflation PPI for Q2.
• 12:00 MSK — Preliminary consumer inflation CPI for the Eurozone in July: a key input for the ECB's September decision.
• 15:30 MSK — Canada’s GDP for May.
• 16:45 MSK — Chicago PMI (July).
• 17:00 MSK — University of Michigan Consumer Sentiment Index and consumer inflation expectations (July).

Corporate Reports. Before market opening, reports will be submitted by AbbVie, Chevron, Linde, Eaton, Sony, Colgate-Palmolive, Cboe Global Markets, T. Rowe Price, Church & Dwight, and Moderna. Chevron's report will provide insights into the profitability of the oil and gas sector amid Brent prices around $70–75, while Sony's results will be a key benchmark for the Nikkei 225.

Weekend: OPEC+ Meeting on August 2

Saturday, August 1, will be free of significant statistics, but on Sunday, August 2, the OPEC+ monitoring committee meeting is scheduled. A discussion on quotas for September is expected — a likely continuation of the series of increases of about 188,000 barrels per day, similar to June, July, and August. Since April, the alliance has returned nearly 800,000 barrels per day to the market, while actual production remains below target levels due to disruptions in the Strait of Hormuz region. The UAE's exit from the group and Iraq's claims for an increase in their limit maintain the risk of a split within the alliance, making the beginning of August potentially volatile for Brent oil and shares of oil and gas companies.

U.S. Earnings Season in Numbers: Results Above Historical Averages

The interim statistics for the Q2 2026 earnings season appear strong:

• 80% of companies that have reported exceeded revenue expectations — compared to a five-year average of 70% and a ten-year average of 68%;
• 86% surpassed consensus on earnings per share (EPS) — compared to 78% and 76% respectively.

This ratio suggests that the U.S. corporate sector has adapted to higher capital costs better than analysts anticipated. However, the high rate of beating estimates is a double-edged sword: with the S&P 500 near historical highs, the market increasingly punishes even those companies that exceeded forecasts but provided cautious guidance for the second half of the year.

Europe, Asia, and Russia: Euro Stoxx 50, Nikkei 225, and MOEX

The week offers a rare opportunity to compare the state of three regions simultaneously. In Europe, UBS, Deutsche Bank, and BBVA (banking sector), Shell (energy), Unilever, AB InBev, and Air Liquide (consumer sector and industrial gases), Telefónica, and Linde are set to report. Collectively, this will provide insight into the margins of European businesses amid a stronger euro and rising ECB rates.

In Asia, the Japanese earnings season for the first quarter of the 2027 financial year will kick off: Canon on Monday and Sony on Friday will start a series of reports from the Nikkei 225 heavyweights, followed traditionally by companies from the electrical engineering, machinery, and automotive sectors in late July to early August. For Asian markets, the July PMI data from China will also be crucial in assessing continued cooling in the industrial cycle.

In Russia, the earnings season for the first half of 2026 under IFRS is just beginning: operational and financial results from several issuers in the oil and gas, metallurgy, and technology sectors are expected to be published in the second half of the week, along with data from the banking sector for June. The main mass of reports from the largest companies in the MOEX index will be concentrated in August. For the Russian market, the dominant drivers of the week remain the trajectory of the key rate following its reduction to 14%, weekly inflation, and the geopolitical background.

Conclusion for Investors: What to Focus On

The week of July 27–31, 2026, is shaping up to create three independent sources of volatility, and their overlap poses the main risk to portfolios.

1. Monetary Block. The combination of "FOMC on Wednesday — PCE and U.S. GDP on Thursday" creates a classic trap: decisions are made before fresh inflation data is published. If core PCE turns out to be higher than expected, the market will be forced to reassess the September scenario already on Thursday evening, without the buffer of the regulator's comments.
2. Corporate Block. Reports from Microsoft, Meta, Apple, and Amazon fall on Wednesday and Thursday. The concentration of the S&P 500 index's capitalization in a few names means that disappointing guidance from one company can pull the entire broad market down. The key metric is not the profit for the past quarter, but the planned capital expenditures on AI and signs of their return on investment.
3. Commodity and Geopolitical Block. Comments from Washington regarding sanctions, EIA inventory reports, and the OPEC+ meeting on August 2 create heightened risks for oil, the ruble, and shares of exporters.

Practical takeaways: maintain a higher liquidity level ahead of Wednesday and Thursday evenings; recognize that month-end closing on Friday traditionally amplifies movements due to fund rebalancing; evaluate earnings not solely by beat/miss metrics, but also by the quality of second-half forecasts. Regional diversification works particularly well this week: the divergence of paths among the Fed, ECB, Bank of England, and the Bank of Russia creates opportunities in both currency and bond allocations. For investors tracking the S&P 500, Euro Stoxx 50, Nikkei 225, and MOEX, this week will provide the most comprehensive picture of the global economic cycle for the summer.