Economic Events and Corporate Reports January 5–9, 2026: Constellation Brands, Jefferies, Tilray, CPI, and Nonfarm Payrolls

Weekly Overview January 5–9, 2026: Key Economic Events and Corporate Reports. Focus on Constellation Brands, Jefferies, Tilray, Inflation (CPI), PMI Indices, and the US Labor Market (Nonfarm Payrolls).

The upcoming first full week of the new year (January 5–9, 2026) promises a busy stream of macroeconomic publications and the commencement of corporate earnings reporting. The quarterly earnings season is just getting underway: major publicly traded companies from the United States, Europe, and Asia will report their financial results, while investors worldwide will be watching key inflation indicators (CPI) and business activity metrics (PMI). The highlight of the week will be the US labor market data (Nonfarm Payrolls report), which could significantly influence global market sentiments. These events may reflect on the dynamics of global stock indices – from the S&P 500 and Euro Stoxx 50 to Nikkei 225. The Russian market will begin the year with a shortened week due to the New Year holidays, but the international investment community will focus on global indicators. Let’s take a day-by-day look at what the markets can expect and what events investors should pay attention to.

Monday, January 5, 2026 – PMI in Asia, Inflation in Turkey, and the US ISM Manufacturing Index

At the beginning of the week, the external backdrop is relatively calm. Investors will assess fresh business activity indices from Asia while monitoring the inflation situation in developing countries. There are few major corporate publications on this day, thus attention shifts to general macroeconomic trends. Following the holiday weekend, the market is also digesting important news that emerged over the weekend, including data on auto deliveries.

Before Market Open:

Tesla – the electric car manufacturer announced deliveries for the fourth quarter of 2025 (approximately 418,000 vehicles) over the weekend. Although this figure was below last year's level, it sets the tone for the EV sector and may influence automotive manufacturers' stocks on the first trading day of the year.

Economic Events (time in MSK):

03:30 – Japan: PMI Index in Manufacturing (December). A reading is expected to remain below 50 points, indicating ongoing contraction in production; any unexpectedly strong data could support the Nikkei 225 and strengthen the yen.
04:45 – China: Caixin Services PMI Index (December). The release will reflect the state of China's services sector at the year's end; a rise in PMI above expectations signals strong domestic demand and may improve sentiment in Asian markets.
10:00 – Turkey: Consumer Price Index (CPI) for December. Year-over-year inflation in Turkey is expected to be around 30–32%, slightly below the November level. A slowdown in inflation may support the Turkish lira, while unexpected acceleration could increase pressure on the Turkish Central Bank and the local market.
18:00 – USA: ISM Manufacturing Activity Index (December). The projection is around 47–48 points, reflecting ongoing contraction in US manufacturing. A result below expectations could heighten concerns about an economic slowdown, putting downward pressure on the S&P 500, while a stronger PMI would support the market.

Investor Takeaway: Monday will start without major shocks – few macroeconomic events are expected, and trading may proceed moderately. The primary focus will be on PMI data from Asia and inflation in Turkey: their results will indicate the economic sentiment at the start of the year. The absence of major corporate reports shifts the focus to broader market indicators. Investors will also consider the announcement of Tesla's quarterly deliveries, which sets the tone for the automotive and technology sectors in the first trading day of 2026.

Tuesday, January 6, 2026 – Global Services PMI Indices, Ukraine Meeting, and Reports from Next, AAR

On Tuesday, the focus will shift to services PMI indices across several key economies – from Asia to America. These indicators will provide insight into how confidently the global services sector concluded the past year. Additionally, political discussions will surface with a meeting of the international coalition in France concerning the situation in Ukraine. On the corporate front, the first reports from retailers and manufacturers will emerge, signaling the state of affairs in their respective industries.

Before Market Open:

Next plc – a leading UK clothing retailer, will release its trading report for the Christmas season (Q4 Trading Statement). Strong holiday sales could boost retail stocks in Europe and indicate resilient consumer demand in Britain, while a weak report may raise concerns among investors regarding the sector.

After Market Close:

AAR Corp (AIR) – an American aviation services company, will report for Q2 of the 2026 financial year. AAR's results (aviation maintenance and repair) will provide insights into the state of the aviation industry; revenue growth signals increased demand for air travel and may support the airline sector.

Economic Events (time in MSK):

01:00 – Australia: Services PMI and Composite PMI (December). It is expected that the indices will remain around the neutral level of 50 points; improvement above 50 would indicate a revival in the Australian economy at the end of the year, while a decline would heighten concerns about slowing growth.
08:00 – India: Services PMI and Composite PMI (December). The Indian services sector has shown consistent growth in recent months; another high PMI value (significantly above 50) would confirm the resilience of one of the fastest-growing economies, bolstering optimism in emerging markets.
11:55 – Germany: Services PMI (final December data) and Composite PMI. Preliminary estimates showed about 47 points for services – in contraction territory. Confirmation of service weakness in Europe's largest economy could pressure the DAX, while an upward revision would support the euro and European equities.
12:00 – Eurozone: Services PMI and Composite PMI (December, final estimate). The Eurozone concludes the year in stagnation: PMI readings around 49 points. Investors are awaiting confirmation of this trend; any adjustments could impact expectations concerning ECB policy and the Euro Stoxx 50 movement.
12:30 – United Kingdom: final Services PMI (December). The British economy is teetering on the edge of a recession, and the services index around 50 points is a testament to that. Data without surprises will keep the FTSE 100 stable, while an unexpected rise in PMI would strengthen the pound and support the British market.
16:00 – Brazil: Services PMI and Composite PMI (December). The condition of the largest economy in Latin America at the end of the year will be assessed by these indices; stable or rising PMIs will enhance faith in the Brazilian market recovery, while a drop will heighten fears regarding regional prospects.
16:00 – Germany: preliminary Consumer Price Index (CPI) for December. The forecast suggests a slowdown in year-over-year inflation in Germany to around ~3%. A decrease in inflation could strengthen expectations of dovish ECB policy and might positively affect the euro, while an unexpected rise in prices will intensify discussions about maintaining the fight against inflation.
17:30 – Canada: Services PMI and Composite PMI (December). The publication will provide insight into business activity in Canada's services sector; in conjunction with recent employment data, this will affect the Canadian dollar and sentiment in the Toronto market.
17:45 – USA: Services PMIs (S&P Global) and Composite PMI (December, final). Preliminary data indicated a slight improvement in business activity (around 49–50 points). Confirmation of PMI growth to 50 and above would serve as a positive signal regarding the stabilization of the US economy, while weak indices could exacerbate recession fears.
00:30 – USA: American Petroleum Institute (API) weekly oil inventory report. The oil market will track these figures overnight: a significant decline in inventories will support oil prices (and shares of oil & gas companies), while an increase in inventories may create short-term pressure on oil quotes.

Investor Takeaway: Tuesday's key theme will be global services PMI indices – they will indicate the sentiment that businesses possess entering 2026. The absence of notable macro data in the first half of the day shifts the focus to corporate and political events: a strong trading update from British Next will reflect consumer activity in Europe, while the meeting of the "coalition of willing" concerning Ukraine could influence geopolitical risks. In the evening, investors will analyze the first reports from American companies (such as AAR Corp) to evaluate the state of various sectors. Overall, the day promises moderate market movements, led by the PMI data and selective corporate news.

Wednesday, January 7, 2026 – Eurozone Inflation, US Labor Market, and Flood of Corporate Reports

Wednesday will be the most eventful day of the week, combining significant macroeconomic releases and a series of reports from major companies. European markets will receive fresh data on Eurozone inflation, which will help gauge the ECB's course, while the US will release a whole block of statistics regarding the labor market and business activity. Investors' attention will be particularly drawn to corporate reports across several sectors – from retail and food to finance and alcohol. Volatility may increase, considering the return of global traders after the holidays and the concentrated flow of news.

Before Market Open:

Albertsons Companies (ACI) – one of the largest grocery chains in the USA, will report for Q3 of the 2025 fiscal year (before US markets open). Investors will assess food sales dynamics amidst inflation and the merger progress with Kroger; strong results could boost retail stocks and the entire S&P 500 index.
Cal-Maine Foods (CALM) – the largest egg producer in the USA, will report for Q2 of the 2026 fiscal year. Cal-Maine’s results will reflect the impact of egg prices and feed costs; profit growth amid stabilizing prices will indicate normalization in the agribusiness sector after a volatile year.
Fast Retailing (9983.T) – a Japanese retail giant, owner of the Uniqlo brand, will report for Q1 of the 2026 fiscal year. Sales figures for Uniqlo in Japan and overseas will act as indicators of consumer demand in Asia; a strong report will support the Nikkei 225 index and sentiments in the global retail sector.

After Market Close:

Jefferies Financial Group (JEF) – an investment bank, will report for Q4 of the 2025 financial year (as well as annual results). Jefferies’ results will set the tone for the financial sector: revenue growth from investment banking and trading signals improved conditions on Wall Street, while weak results may lead investors to be cautious regarding banking profits overall.
Constellation Brands (STZ) – a global alcohol producer (brands like Corona beer, Robert Mondavi wine, and more), will report for Q3 of the 2026 fiscal year. Investors are expecting revenue growth, particularly in the beer segment of the US market; improved margins amid stable demand for premium alcohol will support the company’s stocks and signal strong consumer demand.
PriceSmart (PSMT) – an operator of warehouse clubs in Latin America, will report for Q1 of the 2026 fiscal year. Year-over-year results will show whether sales growth persists in the developing economies of the region; positive trends at PriceSmart might increase investor interest in Central and South American markets.

Economic Events (time in MSK):

Day Off: Kazakhstan's stock markets are closed (Orthodox Christmas); Moscow Exchange (Russia) is also closed on this day, but the SPB Exchange is trading foreign securities.
03:30 – Japan: Services PMI and Composite PMI indices (December). Final data on Japan's services activity around 53–54 points will confirm solid sector growth; this is positive for the Nikkei 225. A decrease in PMI will be viewed negatively, especially against the backdrop of changes in the Bank of Japan's policy.
13:00 – Eurozone: Consumer Price Index (CPI) for December. Preliminary data indicates a slowdown in Eurozone inflation (around 2.5% year-over-year, down from 2.9% previously). Confirmation of this downward trend will alleviate pressure on the ECB regarding further rate hikes and may support European stock indices. However, any unexpected deviation of the CPI from forecasts (upward or downward) will immediately reflect on euro values and regional market conditions.
16:15 – USA: ADP Employment Report for the private sector (December). An increase of approximately +150,000 jobs is projected. The ADP data serves as a preliminary guide for the official Nonfarm Payrolls report; strong job growth may intensify expectations for a high NFP figure, leading to rising bond yields and pressure on tech stocks, while a weak report may bolster hopes for more dovish Fed policies.
18:00 – USA: Several publications:
- Factory Orders for October. A slight decline in orders is expected (-1–2% month-over-month) due to weakness in the long-term goods sector; a more significant drop could negatively impact industrial sector stocks.
- JOLTS Job Openings for November. The forecast is ~9.5 million job openings, slightly lower than the previous level. A decrease in job openings indicates a cooling labor market in the US, which could reduce inflationary pressures in the long run.
- ISM Services Index for December. A reading of about 52 points is anticipated, indicating moderate growth in services. This index is particularly important following weak data from ISM in manufacturing: if the services sector shows resilience, it will comfort markets regarding recession risks.
18:30 – USA: EIA Weekly Petroleum Inventory Report. Analysts expect little change in crude oil inventories. A sharp decline will be a bullish signal for the oil market, while an unexpected rise in inventories may put immediate downward pressure on oil prices and shares of oil & gas companies.

Investor Takeaway: Wednesday provides multiple indicators for global markets. In the morning, data on Eurozone inflation will be a key signal: ongoing price declines may boost European stock growth and strengthen the euro, while an unexpected surge in inflation may alarm market participants. Throughout the day, a series of American indicators – from the ADP report to the ISM Services Index – will present a comprehensive picture of the US economy leading up to the critical employment report. On this backdrop, corporate reports will play a significant role: results from Albertsons and Cal-Maine will reflect the state of the consumer market and food prices, while evening reports from Jefferies and Constellation Brands will serve as a “barometer” for the financial and consumer sectors. Investors will need to piece together all these signals: a combination of moderate inflation in Europe, a stable US labor market, and positive corporate results may enhance risk appetite, while an unfavorable mix (such as rising prices with weak reports) could heighten volatility and caution.

Thursday, January 8, 2026 – European Data, US Trade Balance, and Reports from Tilray, AEHR, and Aritzia

Thursday will continue the sequence of significant events, although their impact on the market may vary. Europe will publish statistics on industrial orders and producer price indices, which will aid in understanding the economic trajectory at the end of 2025. US statistics for the day include fresh labor market data (weekly claims) and trade, as well as inflation expectations indicators – all will complement the overall picture established on the previous day. The corporate agenda will once again take center stage later in the day: investors will focus on results from companies across various sectors, including the dynamic cannabis sector, high-tech equipment, and consumer fashion.

Before Market Open:

RPM International (RPM) – an American manufacturer of industrial coatings and construction materials, will report for Q2 of the 2026 financial year. RPM's data on the sales of paints, sealants, and other materials will reflect the state of construction activity in the US and globally; improved profitability will indicate robust demand in the construction sector, potentially supporting industrial company stocks.

After Market Close:

Tilray Brands (TLRY) – a Canadian-American cannabis producer, will report for Q2 of the 2026 financial year. Investors will focus on revenue from marijuana and hemp product sales in the North American market; positive surprises in the report may spark renewed interest in the cannabis sector, which dimmed in 2025.
Aehr Test Systems (AEHR) – an American high-tech company that manufactures semiconductor testing equipment, will report for Q2 of the 2026 financial year. AEHR demonstrated significant growth in orders last year due to demand from electronics and electric vehicle manufacturers. Strong financial results will confirm the trend's continuation and may lead to a rally in the semiconductor segment.
Aritzia Inc. (ATZ) – a Canadian fashion retailer will report for Q3 of the 2026 financial year. Sales results for Aritzia's fashionable clothing in Canada and the USA will reflect consumer spending on discretionary goods. Investors expect revenue growth, particularly in online sales; a successful quarter will bolster confidence in the premium retail market.
WD-40 Company (WDFC) – an American manufacturer of the iconic lubricants, will report for Q1 of the 2026 financial year. Though the company is small, its products have a global presence; an increase in WD-40 sales in global industrial markets will signal the health of small industrial businesses and infrastructure projects.

Economic Events (time in MSK):

10:00 – Germany: volume of industrial orders for November. A small rise in orders (~+0.5% month-over-month) is expected following a decline in the previous month. An improvement in the figure indicates stabilization in Germany's industrial sector and may provide momentum for machinery company stocks. However, an unexpected drop in orders could intensify pressure on the DAX index.
13:00 – Eurozone: producer price index (PPI) for November. A decrease in industrial inflation in the euro area is anticipated amid falling energy prices. A year-over-year decline in PPI will confirm the easing of price pressures at the factory level and will likely be positively received by the bond market. However, an excessive decrease in producer prices may raise questions about demand and corporate margins.
13:00 – Eurozone: consumer confidence index (December, final estimate) and consumer inflation expectations indicator. These sentiment indicators will show how European households perceive the economy and where they believe inflation is headed. An improvement in consumer confidence and a decrease in inflation expectations will support the view that the ECB is close to completing its tightening cycle.
16:30 – USA: initial claims for unemployment benefits (week). The weekly figure remains at historically low levels (~220–230 thousand), reflecting a still-strong labor market. Any significant deviation – an increase in claims above 250 thousand or a drop below 200 thousand – will immediately impact sentiments, adjusting expectations for Nonfarm Payrolls and Fed policy.
16:30 – USA: trade balance for October. The US trade deficit is projected to be around $65 billion. A reduction in the deficit due to strong export growth will agree with the idea of a positive contribution from trade to GDP for Q4, while an expanding deficit will underline pressures from imports and a strong dollar. However, the influence of these data on the market is typically limited.
18:30 – USA: EIA Weekly Natural Gas Inventory Report. This publication is important for the energy sector, especially due to the winter season. Continuing declines in gas inventories (due to cold weather) may push gas prices up, while an unexpected increase in inventories could dampen the market.
19:00 – USA: consumer inflation expectations index from the New York Fed for December. This survey shows what level of inflation households expect in a year. If consumer inflation expectations decline (e.g., closer to 3% from ~3.5% previously), the Fed will have an argument for pausing rate hikes. Conversely, rising expectations will strengthen concerns about entrenched inflation.

Investor Takeaway: Thursday forms a mixed news background, intertwining European statistics and American data with a series of niche yet indicative corporate reports. For European markets, the morning figures on industry and prices will act as a gauge: positive surprises may boost the euro and stocks, while weakness will strengthen discussions about recession risks in the EU. In the US, by the end of the day, investors will analyze new signals regarding the labor market (claims) and consumer inflation expectations, which are crucial in light of the upcoming Nonfarm Payrolls report and the next Fed meeting. On the micro level, reports from Tilray and other companies after the close deserve attention: success from Tilray or AEHR could cause local spikes in volatility in their industries (cannabis, semiconductors), while overall results on Thursday will help adjust positions ahead of key data on Friday. In general, investors should prepare for potential market fluctuations given the mixed nature of incoming information.

Friday, January 9, 2026 – Chinese and Brazilian Inflation, US Nonfarm Payrolls, and Consumer Confidence

The final day of the week will bring the most anticipated macroeconomic release – the US labor market report for December, which traditionally sets the tone for financial markets. In addition to US payrolls, investors will receive inflation data from China and Brazil, as well as insights into Germany's industrial state. Later in the evening, the University of Michigan’s Consumer Sentiment Survey will be released – this sentiment and inflation expectations indicator will serve as an important finishing touch to the overall picture. There will be few corporate reports this Friday, but attention in Asia will focus on a publication from a Japanese electronics manufacturer, whose results are often viewed as a leading indicator for the tech sector.

Before Market Open:

Yaskawa Electric (6506.T) – a Japanese industrial robotics manufacturer, will report for Q3 of the 2025 fiscal year. Yaskawa is traditionally among the first in the industry to report quarterly results: an increase in robot and automation orders signifies a recovery in investment activity in the industrial sector, both in Japan and globally. A strong Yaskawa report may enhance confidence in the tech sector and lift Asian tech indices.

Economic Events (time in MSK):

04:30 – China: Consumer Price Index (CPI) for December. In the PRC, inflation remains close to zero: around +0.5% year-over-year is expected (after 0.4% in November). A low inflation level indicates weak domestic demand but provides more room for government stimulus measures. Any deviation of CPI from zero (e.g., an unexpected rise in prices) may influence the People's Bank of China’s policy and sentiment in the Shanghai market.
10:00 – Germany: industrial production for November. A slight increase in output (~+0.2% month-over-month) is expected following a contraction the previous month. Improved production in Germany towards the end of the year will serve as a positive signal for the European economy and support the DAX, while another decline could intensify fears of industrial contraction in the EU.
15:00 – Brazil: Consumer Price Index (CPI) for December. Inflation in Brazil remains moderate due to the Central Bank’s tight policy: around 4.5–5% year-over-year is anticipated. This Brazilian CPI data is important in understanding trends in the largest market in Latin America; further inflation deceleration may pave the way for interest rate cuts in Brazil, supporting local stocks and bonds.
16:30 – USA: Nonfarm Payrolls report for December and unemployment rate. The week's climax: the consensus forecast suggests the creation of ~180–200 thousand new jobs, with unemployment remaining at 3.7–3.8%. If Nonfarm Payrolls exceed expectations, markets may react with rising Treasury yields and a strengthening dollar, as a strong labor market will increase the likelihood of further actions by the Fed. A weaker report (especially combined with rising unemployment) will conversely prompt discussions about an imminent end to tightening policy and may push stock indices higher.
16:30 – USA: number of housing starts (Housing Starts) for October. This indicator comes with a lag; data is expected to confirm some slowdown in home construction during the fall due to high mortgage rates. Although this release is delayed, it will provide a backdrop for assessing the real estate market’s condition ahead of fresh data for November and December.
18:00 – USA: University of Michigan Consumer Sentiment Index (preliminary data for January) and related consumer inflation expectations indicators. An index growth to ~72 points (from 70.6 in December) is forecasted, aided by declining gas prices and a robust labor market. An improvement in sentiment and a decrease in long-term inflation expectations (e.g., to 2.9–3.0% from the current 3.2%) will be a favorable signal, confirming that consumers are looking to the future with greater optimism. Conversely, if confidence unexpectedly drops, this will alarm markets regarding household spending at the start of the year.
21:00 – USA: Baker Hughes report on active drilling rigs (oil and gas). The number of active rigs in the US gives insight into trends in the shale industry; continued rig reductions may support long-term energy prices, while an increase in rigs signals a ramp-up in production.

Investor Takeaway: On Friday, markets will receive an extensive block of data capable of significantly impacting sentiments. The main event of the day will undoubtedly be the Nonfarm Payrolls report in the US – it will set short-term expectations for Fed policy and determine the tone for the trading session: a strong report may lead to increased volatility and a capital influx towards the dollar, while signs of cooling in the labor market will support stocks and other risk assets. At the same time, other indicators should not be overlooked: ultra-low inflation in China and moderate inflation in Brazil will reaffirm the global trend towards easing price pressures, while data on American consumer confidence will show whether households are willing to spend in the new year. As the week concludes, investors will be re-evaluating all received information – from corporate reports from Constellation Brands, Jefferies, Tilray, and others, to macro statistics – in order to adjust their strategies. Attention should be given to how consistent the signals are: if most data suggest resilience in the global economy while inflation recedes, it will create a favorable backdrop for market growth at the beginning of 2026. However, if the indicators turn out to be contradictory, caution and increased volatility may persist in the coming weeks.