Economic Events and Corporate Reports — Friday, February 6, 2026 Nonfarm Payrolls U.S., Indian Central Bank Rate, Russian GDP

Key Economic Events and Corporate Reports on Friday, February 6, 2026: U.S. Labor Market Data, RBI Rate Decision, Russian GDP, German Statistics, and Reports from Major Public Companies Worldwide.

This Friday, the focus of CIS investors in financial markets will be on important macroeconomic releases and corporate reports. The day promises to be eventful, featuring the Reserve Bank of India's decision, industrial production statistics from Europe, key U.S. labor market data (Nonfarm Payrolls), and a series of corporate earnings reports. Below, we will examine the major events scheduled for February 6, 2026, their expected indicators, and potential market impacts. By the end of the day, investors will need to assess the outcome of these releases to adjust their strategies accordingly. This brief overview should help prepare for these events and understand what to expect in the markets.

EU: Potential Trade Tariffs Against the U.S.

Amid ongoing trade tensions between the European Union and the United States, investors are monitoring the situation regarding potential tariffs. Earlier, the U.S. considered imposing 10% tariffs on a range of European goods (potentially increasing to 25%) due to disagreements over Greenland, but in January unexpectedly revoked this threat. The EU, for its part, had prepared countermeasures—special tariffs of 10%, 25%, and 30% on American products (such as motorcycles, jeans, meat, etc.) that could have taken effect as early as February 7, 2026. Following the easing of the U.S. position, the EU suspended the introduction of these tariffs for six months. However, the possibility of renewed tariff hostilities remains a risk factor. Should the rhetoric escalate again, tensions may arise in the EU stock markets. As of now, there are no new measures announced in the official plans for February 6, and it is likely that both parties will continue their dialogue in line with the July trade agreement, which allows for maximum tariffs of 15% and phased liberalization of trade. Investors should take these geopolitical factors into account, although no immediate actions may unfold on that day.

India: RBI Rate Decision (07:30 Moscow Time)

Early on Friday, the Reserve Bank of India (RBI) will announce its decision on interest rates. The Indian regulator's meeting attracts attention as the Indian economy shows significant growth, with inflation stabilizing. Analysts anticipate that the RBI will likely maintain the key repo rate at the current level of 5.25%. Recall that throughout 2025, the Indian central bank reduced the rate by a total of 125 basis points, including the last cut of 0.25 percentage points in December to 5.25%. Economists note that the easing cycle is likely concluded, and the regulator prefers to wait and assess the impact of previous stimulus measures. The decision will be announced at 10:00 Indian time (07:30 Moscow Time) following a three-day meeting. Markets are pricing in an "on hold" position from the RBI: maintaining the rate could support the rupee and Indian stocks, while an unexpected move (such as an additional cut) would be a surprise. Investors with assets in Indian instruments should also pay attention to the regulator's rhetoric regarding liquidity and inflation—it's expected that the tone will be neutral, emphasizing stability until macroeconomic dynamics become clearer.

Germany: Industrial Production for December (10:00 Moscow Time)

At 10:00 Moscow time, the industrial production figures for Germany for December 2025 will be released. The previous month (November) saw a production increase of +0.8% month-on-month, exceeding expectations due to a revival in the automotive and machinery sectors, although the energy sector experienced a downturn. However, in December, economists expect a slight decline in production due to waning external demand. The consensus forecast for month-on-month industrial output in Germany is approximately -0.3% (following the +0.8% increase in November), although some models predict a modest gain of around +0.3%. Year-on-year, the rates could be close to zero or negative, considering the high base from last year and holiday-related business interruptions. This data serves as an indicator of the health of the EU's largest economy for the euro market and European stocks. If the statistics exceed expectations (for example, if growth continues due to high orders—German factory orders unexpectedly surged by +7.8% month-on-month in December), it will support the euro and sentiment in European exchanges. Conversely, weak industrial production will heighten concerns over the Eurozone's economic slowdown.

U.S.: Nonfarm Payrolls for January and Unemployment Rate (16:30 Moscow Time)

The key macro event of the day is the release of the labor market report in the U.S. for January 2026. Traditionally, the January NFP (Nonfarm Payrolls) report garners heightened attention from the Federal Reserve and investors, and this time even more interest is drawn due to expected data revisions and a trend toward hiring slowdowns. According to the consensus forecast, employment in January increased by approximately +70,000 jobs—slightly above December's modest result (~50,000), but significantly lower than the average pace of the previous year. Major banks, such as BofA, are even more cautious, predicting about +45,000 new jobs, noting a softened labor market and potential statistical revisions. The unemployment rate is expected to remain at 4.4%, the same as in the previous month. Recall that in December, unemployment decreased to 4.4% from 4.5% in November, despite a modest employment growth of only 50,000. Analysts will closely examine the report's details: sectors contributing to job growth or contraction, dynamics in average hourly earnings, and revisions to previous months. Even with a moderate NFP growth of around 50,000 to 70,000, the figure might serve as a weak sign of a cooling U.S. economy. For the markets, this could imply a reassessment of expectations regarding Fed policy—a weak report would increase the likelihood of a dovish shift in the regulator's rhetoric and pressure the dollar, while an unexpectedly strong surge in hiring would surprise and could drive bond yields up and bolster the dollar. The baseline scenario forecasts moderate employment increases with stable unemployment around 4.4%, reflecting a picture of a slowing but still relatively tight U.S. labor market.

U.S.: Michigan Consumer Confidence Index and Inflation Expectations (18:00 Moscow Time)

Closer to evening, at 18:00 Moscow time, preliminary data from the University of Michigan's consumer confidence index for February will be released. In the previous month (January), American consumers showed slight optimism: the final index rose to 56.4 points, up from 52.9 in December, reaching a five-month high. It is expected that in February, confidence may slightly correct downwards—the consensus forecast is around 55 points amid persistent inflation and uncertainty. Besides the sentiment index itself, the survey data on Americans' inflation expectations holds significant importance. In the January report, short-term (one-year) inflation expectations notably decreased to 4.0%, the minimum level since January 2025, although still above pre-pandemic figures. Long-term (five-year) expectations, on the other hand, increased slightly from 3.2% to 3.3%, remaining above the range of 2.8% to 3.2% observed in 2024. These figures indicate that consumers expect a slowdown in inflation over the coming year but remain uncertain about a return to target levels in the long term. If the February survey shows further decreases in inflation expectations and stability in the confidence index, it would be a positive signal for the Fed (evidence of stronger “anchors” of expectations) and for the markets, as it reduces the necessity for aggressive actions by the Central Bank. Conversely, an unexpected surge in inflation expectations could alarm market participants. Investors will closely watch these data points as they impact interest rate sentiments and consumer activity.

Russia: GDP for Q4 2025 and Industrial Production (19:00 Moscow Time)

In the evening, Rosstat will release a block of important macroeconomic statistics for the Russian economy. Firstly, the preliminary estimate of GDP for Q4 2025 will be published. According to officials, by the end of 2025, the Russian economy grew by approximately 1%, slowing down after the rapid recovery of the previous two years. For the first nine months of 2025, the cumulative GDP growth was 1.0% y/y, while in Q3, a growth of 0.6% y/y was recorded. Therefore, in Q4, growth rates are expected to be close to zero—likely between 0% and +0.5% y/y—which corresponds with an overall picture of stagnation due to external constraints and the exhaustion of post-COVID recovery effects. Investors will assess how closely the actual figures align with these estimates. Secondly, production data for December will also be published. At the end of the year, a downturn in dynamics was observed in Russian industry: in November, output dropped by 0.7% y/y after a growth of 3.1% in October, which turned out to be worse than expected (forecasted at +1.2%). Preliminary estimates for December are also subdued—consensus forecasts a decline of around 1% y/y. If the actual figures show a decline close to these expectations, it will confirm the trend of slowing industrial production towards the year's end. Markets are especially monitoring the oil and gas sector and manufacturing: based on preliminary data, the manufacturing output for the entire year of 2025 grew by about +2.8%, while extraction may have declined. The reaction of the Russian stock market and the ruble to this data will be limited, as the figures are close to expectations. However, signals regarding the resilience of GDP growth, albeit at a low level (around 1%), and the industry's readiness for further challenges are crucial for domestic policy. Investors should note that macro factors in Russia are presently secondary compared to geopolitical ones, but unexpected deviations in statistics could temporarily affect the ruble's exchange rate and local stock quotes.

Corporate Reports on February 6, 2026

In addition to macroeconomic data, the corporate earnings season will continue across different regions on February 6. Companies from the U.S., several European and Asian countries will present their financial results on this day. Below, we have compiled a list of key issuers that will release their reports, including their ticker symbols, sectors, report timings, and main market expectations.

U.S. (S&P 500 and others): Key Reports

* Times are indicated in Moscow time (MSK). In the U.S., most reports on February 6 are released before the market opens (BMO – before market open) as it is a Friday.

Among the highlighted American issuers, investors should pay particular attention to the Biogen report, as the pharmaceutical company presents its Q4 2025 results and the full-year results. A nearly 10% decline in revenue (to ~$2.2 billion) and EPS down to ~$1.60 is expected due to falling sales of existing multiple sclerosis drugs and heightened competition in the market. The focus will be on comments from Biogen's management regarding new drugs and forecasts for 2026. Another interesting release is Centene: the insurer is likely to show sharp revenue growth (+18% y/y) due to the expansion of Medicaid programs, but due to one-time costs, a net loss may occur in the quarter. This could affect the company’s shares, even though the operational trends appear positive. Under Armour's report will cap off the week: investors are hoping to see a stabilization in sales of sports apparel after a difficult year. The consensus for Under Armour indicates a slight loss (~$0.02 per share) with revenue around $1.55 billion, and any deviation may significantly impact the stock due to the sector's volatility. Other companies reporting include AutoNation (monitoring auto sales dynamics and dealership profitability, stable results are expected), Cboe (revenue growth from derivatives trading, consensus for earnings $2.9/share), and several others. Overall, Friday in the U.S. is not as packed with notable names as previous days of the week, but the data from Biogen, Under Armour, and others will help gauge the health of different sectors—from biotech to consumer.

Europe (Euro Stoxx 50): Reporting Situation

In Europe, February 6 is relatively quiet in terms of corporate earnings from major companies. Investors will focus more on macro statistics (as discussed above) and the outcomes of reports already published by several giants (such as Shell and BNP Paribas, which reported on February 5). No company within the Euro Stoxx 50 has scheduled a financial report for February 6. This is attributed to the timing of the European earnings season: most leading Eurozone corporations release Q4 results later in February or early March. However, some second-tier companies will report. For instance, Norwegian telecommunications operator Telenor ASA is expected to release its Q4 2025 report in the morning, while Swedish real estate companies Balder and Hoist Finance will present data later in the day. Although these firms are not part of the Euro Stoxx 50, their results may shed light on the state of respective sectors in Europe—telecom and real estate. Overall, the European stock market on February 6 will be influenced by external signals (U.S., Asia) and the dynamics of economic indicators, with expected low volatility from corporate news. European stock investors should brace for the main wave of annual reports closer to mid-month while keeping an eye on any corporate announcements or warnings.

Asia (Nikkei 225): Key Japanese Companies

In the Asian region, the end of the week will feature reports from several major companies, primarily from Japan. Toyota Motor, the world's largest automaker, will present its financial results for Q3 of the 2026 fiscal year (October-December 2025) on February 6. This report is crucial for assessing the state of the auto industry: a profit increase for Toyota is expected due to a weaker yen and high sales of hybrid models, although analysts will monitor the impact of component shortages and the strategy in the electric vehicle sector. Additionally, on this day, according to Japanese media, other Nikkei heavyweights, such as financial conglomerate Mitsubishi UFJ Financial Group (MUFG) and technology giant Sony Group, will complete their weekly block of reports (although their results may also be released the day before or after the market closes on February 5). The Japanese stock market has already priced in expectations for positive results: many corporations have raised forecasts amidst a depreciating national currency and domestic demand. If reports meet expectations (with Toyota's consensus predicting an increase in operating profit and confirmation of annual sales forecasts), stocks of these companies and the Nikkei 225 index will receive support. Investors in Asian assets are also advised to pay attention to telecoms—Advanced Info Service (AIS) from Thailand is set to publish quarterly results in the early morning, which may set the tone for trading in Southeast Asia. Overall, February 6 Asian markets will reflect not only local reports but also the overall sentiment shaped by the outcomes of overnight data from the U.S. and Europe.

Russia (MOEX): Corporate Calendar

In the Russian market, no major issuers are expected to release financial reports on February 6. Annual and quarterly results from companies making up the Moscow Exchange index (MOEX) typically come later—usually in March-April (annual IFRS) or after the quarter's conclusion. Thus, neither Sberbank, Gazprom, nor other blue-chip companies will provide new data on this day. Nevertheless, investors should keep in mind that some companies may publish operational production metrics for January or provide forecasts for the year during industry events. Additionally, the corporate backdrop in Russia on February 6 will be shaped by external news: dynamics in oil and metal prices, as well as global risk appetite trends. Therefore, it can be said that this day for the Russian stock market will be characterized more by macroeconomic statistics (GDP and industrial production, as discussed above) and external signals rather than internal corporate drivers. Investors on the MOEX should utilize the relative calm in the report calendar to prepare for the upcoming Russian earnings season in the spring and evaluate the fundamental ratios of Russian stocks in anticipation of future releases.

Conclusion: What Investors Should Pay Attention To

February 6, 2026, encompasses several themes capable of influencing market sentiment. Investors should assess the outcomes of the RBI's decision and data from Europe in the morning, then turn their attention to the “super Friday” in the U.S.—the Nonfarm Payrolls report, which will set the tone for trading in the afternoon. By evening, important guidelines will be available from Russia, although their impact will be more local in nature. The corporate block is less crowded than in previous days of the week, but reports from companies like Biogen, Under Armour, and Toyota will serve as indicators for their respective sectors. By evenly distributing attention between macro and microeconomic factors, investors can timely respond to incoming information. The main advice is to watch for deviations of actual data from forecasts—surprises (whether an unexpected spike in U.S. unemployment, sharp changes in inflation expectations, or unexpectedly strong/weak corporate reports) typically invoke the most intense market reactions. May this Friday be productive for you—by preparing thoroughly, you will meet it well-equipped and able to make informed investment decisions.