Economic Events and Corporate Reports on November 6, 2025: Japan and Russia's PMI, Germany's Industrial Production, Central Bank of Russia's Currency Operations, Bank of England's Rate Decision, US Jobless Claims, Ivey PMI in Canada, and Major Company Earnings Reports from the US, Europe, Asia, and Russia. Key Takeaways and Highlights for CIS Investors.
03:30 MSK — Japan: Services PMI and Composite PMI for October
Early in the morning, data will be released regarding Japan's Services Purchasing Managers' Index (PMI) for October, along with the composite PMI that accounts for both sectors. Previous indicators suggested a slowdown in growth: preliminary estimates indicate the Services PMI declined to approximately 52.4 points in October from 53.3 in September. This number still exceeds the 50 threshold, indicating expansion, but the pace of growth in services has notably weakened. The Composite PMI dropped to around 50.9, a five-month low, reflecting simultaneous stagnation in industry (where PMI is below 50) and a slowdown in services. These macroeconomic events hold significance for Asian markets: a slowing Japanese economy could dampen investor sentiment in the region and impact currency exchange rates. However, modest expansion in the services sector signals that Japan's domestic economy is currently maintaining a positive trajectory. Investors should consider that the resilience in Japan's services sector supports economic recovery, while weaknesses in industry constrain overall growth.
09:00 MSK — Russia: Services PMI and Composite Index for October
In the morning, Russia's Services PMI and Composite PMI indices for October will be released. The previous month showed a sharp decline: in September, the Services PMI plummeted to 47.0 points from exactly 50.0 in August, marking the onset of a downturn and the lowest level since 2022. A value below 50 indicates a contraction in business activity, and the September decrease reflected a downturn in new orders and consumer demand. The Composite PMI (services + industry) also fell to 46.6 points in September, underscoring the overall difficulties in the economy. The data for October will reveal whether the deterioration continued or stabilized. If macroeconomic indicators remain weak (below 50), this will confirm the sustained pressure on Russian businesses, from decreasing domestic demand to the effects of sanctions. Conversely, any signs of a rebound in PMI above 50 would be a positive signal for Russian markets. It is crucial for investors on the Russian exchange to monitor these indicators: they reflect the general market conditions and can influence expectations regarding the Central Bank policy and corporate profits.
10:00 MSK — Germany: Industrial Production for September
During the day, data will be released on Germany's industrial production for September. This is a significant indicator of the eurozone's economic health, especially following troubling data for August. Recall that in August, output in German industry fell by 4.3% month-over-month – the largest monthly decline in over three years. This slump was partly attributed to one-off factors (a decline in auto production due to vacations and model changes), however it increased recession risks for Europe's largest economy. Analysts expect a technical rebound in September: data on new industrial orders in Germany for September showed a growth of approximately 1.1% month-over-month, which offers hope for a slight recovery in output. Nevertheless, even with growth in September, the indicator is unlikely to return to summer levels. Investors should assess the trend: prolonged declines in industrial production worsen the outlook for companies in the sector and could weigh down European markets. On the other hand, if the report exceeds expectations, it would support the euro and stocks of cyclical companies in the EU.
12:00 MSK — Russia: Central Bank of Russia's Currency Buying/Selling Volumes (November)
At noon, the Bank of Russia will release the volumes of planned operations for buying or selling foreign currency in the domestic market as part of the budget rule for the current month. This data is important for understanding the regulator's policy and its possible impact on the ruble. In the previous period (October 7 – November 6), the Central Bank sold foreign currency daily in the equivalent of 5.3 billion rubles as part of its interventions. For November, the sale volume has been cut to 4.2 billion rubles per day, indicating a slight relief on the budget or the regulator's desire to reduce intervention in the currency market. For investors, this signals that with stabilized oil prices and budget revenues, the need for active currency interventions is decreasing. If the Central Bank announces even lower volumes of operations or a currency purchase (“+”), it could strengthen the ruble, whereas an increase in sales (“–”) typically signifies support for currency supply and may exert downward pressure on the ruble's exchange rate. Overall, the transparency of the Central Bank of Russia's actions regarding currency allows the market to project liquidity and exchange rate dynamics, hence it is important for CIS market participants to consider this information in their strategies.
15:00 MSK — United Kingdom: Bank of England's Rate Decision
A key event of the day for European markets is the Bank of England (BoE) meeting. At 15:00 MSK, the interest rate decision will be announced. Amid declining inflation in Britain (3.8% year-on-year – still the highest among developed countries) and signs of a weakening labor market, the regulator is likely to pause in easing its policies. Recall that the BoE has already lowered rates multiple times from the peak in 2024 – at the last meeting in August, the rate was cut to 4%. The consensus forecast among economists suggests that this time the rate will remain unchanged at 4.0%. However, opinions are divided: a minority of analysts anticipate one further reduction of 0.25 percentage points (to 3.75%), given the unexpectedly weak inflation and rising unemployment. Market expectations gauge the probability of a cut at about “1 in 3” – indicating that the rate will likely be held steady, but a surprise cannot be ruled out. For markets, this means potential volatility for the British pound and stocks: maintaining the rate at the previous level is already factored in by investors, whereas a cut would signal a “dovish” stance and could lead to a rise in bond prices and a weakening of the pound. Thus, investors in British and European assets are advised to closely monitor the BoE's rhetoric: even with an unchanged rate, comments on the outlook for future monetary policy are crucial.
17:15 MSK — United Kingdom: Bank of England Governor's Speech
Shortly after the rate decision is announced, a press conference and speech by Bank of England Governor Andrew Bailey will take place, starting around 17:15 MSK, attracting analysts' and investors' attention. During his address, Bailey will elucidate the regulator's motivations behind its decision and present updated forecasts for the economy and inflation (notably, the November meeting coincides with the release of the quarterly monetary policy report). It is critically important for investors to grasp the tone of the Governor's remarks. If Bailey emphasizes “hawkish” risks – for instance, expressing concern over persistently high core inflation or wages – markets may interpret this as a signal of slower rate cuts in the future. Conversely, a focus on economic slowdown, rising unemployment, and the need to support growth would be perceived as a “dovish” tone. Participants will specifically look for hints about a potential rate cut in the coming months. Any such comments may immediately reflect on the dynamics of the pound and the UK FTSE stock index. Russian investors, who track global trends, should also pay attention: the policies of major central banks (Federal Reserve, ECB, BoE) influence risk appetite across all markets and indirectly – the demand for emerging market assets.
16:30 MSK — United States: Initial Jobless Claims
In the second half of the day, weekly unemployment data from the US will be released – the number of initial jobless claims for the last week. This timely indicator allows tracking the state of the American labor market almost in real time. In recent weeks, this figure has remained at a relatively low level of ~220-230 thousand claims, reflecting a still resilient, although gradually cooling, labor market. The forecast for the current week is around 225 thousand claims, aligning with the long-term pre-pandemic average. If the actual number deviates significantly – for instance, a rise in claims signals an increase in layoffs – this may heighten expectations for a dovish shift by the Fed and boost stock markets (since weakness in the labor market reduces inflationary pressure). Conversely, an unexpected sharp jump in claims (>250 thousand) could alarm investors about a potential slowdown in the US economy. Alternatively, another decrease in claims (below 210 thousand) would affirm ongoing pressures in the labor market, thereby strengthening the dollar and cooling risk appetites, as the Fed would have to maintain a tighter policy for longer. Thus, even this weekly report can trigger short-term movements in the currency and stock markets: exchanges will respond through the lens of the Federal Reserve's future actions.
18:00 MSK — Canada: Ivey PMI for October
To conclude the day, the Ivey Purchasing Managers' Index (PMI) for Canada will be released for October. The previous release surprised markets: in September, the Ivey PMI surged to 59.8 points from 50.1 in August, reaching a 16-month high. Such a sharp increase indicated a rapid expansion in business activity and improved conditions in both the manufacturing and services sectors. Investors now want to understand how sustainable this spike was. A slight decrease in the indicator is expected for October (to around ~55 points) as the market normalizes following the strong growth in September. A PMI value above 50 will still indicate economic expansion. For the market, this is essential since confirming strong business activity could support the Canadian dollar and Canadian company stocks, particularly in the financial and resource sectors. Conversely, if the index unexpectedly adjusts closer to 50 or below, doubts may arise regarding the sustainability of Canada's economic momentum. In the context of global markets, data from Canada may not exert as significant an influence as statistics from the US or China, but they provide a fuller picture of the health of the North American economy. Investors are advised to track this release, especially those involved with commodity markets and currency pairs with CAD, as Canada is a major raw material exporter, and activity in its economy impacts demand for oil, gas, and metals.
Quarterly Company Reports (to be published on November 6)
In addition to macro data, on November 6, investors will see a whole deluge of corporate earnings reports – many major public companies across various sectors and regions will publish their quarterly (and some annual) results. Below is a list of key reports for the day, organized by publication time – before the US market opens and after the market closes – with brief descriptions of what to focus on.
Before Market Opens (pre-market)
- Celsius Holdings (CELH) – a manufacturer of energy fitness drinks, whose stock has surged in recent years due to explosive revenue growth. The company’s Q3 earnings report will reflect whether Celsius can maintain high market expansion rates in sports drinks and sustain profitability. Investors are interested in sales growth figures (double-digit year-over-year growth is expected) and plans for global distribution expansion.
- D-Wave Quantum (QBTS) – an innovative company from Canada/USA engaged in quantum computing. Although the market cap is modest, D-Wave's results garner attention from tech enthusiasts. Quarterly metrics will be published: order volumes for quantum solutions, the trajectory of losses, and cash reserves. The report will show whether D-Wave is advancing in the commercialization of quantum services. The market reaction will depend on how close the company is to monetizing its developments.
- ConocoPhillips (COP) – a major oil and gas giant listed in the S&P 500. The quarterly report released before the session will serve as an indicator of the oil sector's health. Analysts forecast revenue growth of ~7% year-over-year amid relatively high oil prices. Investors will focus on production volumes, cash flow, and comments on plans for returning capital to shareholders (dividends, buybacks). Notably, ConocoPhillips’ results may set the tone for the entire energy sector in the US market.
- BCE Inc. (BCE) – the largest telecommunications company in Canada (owner of Bell Canada). BCE’s Q3 earnings report will shed light on the resilience of the telecom business: revenue dynamics from mobile and media services, subscriber growth, and infrastructure expenditure. Investors are interested in BCE’s ability to generate stable cash flow to fund generous dividends amid high competition and costs associated with 5G networks.
- Oscar Health (OSCR) – a tech-savvy health insurance company (insurtech) from the USA. The earnings report from Oscar Health before the market opens will provide insight into its success in reducing losses and increasing the number of insured individuals. Previously, the startup suffered from high expenses and has yet to turn a profit, so a crucial metric will be the loss ratio on insurance plans and the trajectory of reducing operational losses. Investors will evaluate how successfully OSCR manages costs and progresses toward breakeven.
- Vista Energy (VIST) – an oil and gas company with assets in Latin America (Argentina), whose shares trade on NYSE. Vista Energy has already reported substantial growth in production and profits in 2025. Quarterly results will provide fresh figures on oil/gas production and exports. Capital expenditure (CAPEX) plans and dividends are also on the agenda. Given that oil prices are relatively high, Vista's report is likely to show strong cash flow. For CIS investors monitoring oil and gas, regional players like Vista are interesting amidst the global energy resources market.
- AstraZeneca (AZN) – a British-Swedish pharmaceutical giant (part of Euro Stoxx 50). Before the opening of European markets, AstraZeneca will present its financial results for Q3 and the first nine months of 2025. The company demonstrates steady growth thanks to its broad portfolio of drugs. In the report, investors will be looking for: revenue growth in key segments (oncology, cardiology, etc.), sales of flagship drugs (Tagrisso for lung cancer treatment, Farxiga for diabetes and heart failure, etc.), as well as an updated forecast for annual revenue. Earlier, AstraZeneca set a goal to increase annual revenue to $80 billion by 2030 – current reports show progress towards this goal. The figures on margin and R&D expenses are also critical: AstraZeneca is known for its extensive pipeline, so news on new drug approvals or successes in clinical trials may accompany financial reports.
- Datadog (DDOG) – an American cloud company (SaaS) in the high-tech sector, specializing in IT infrastructure monitoring and security. The quarterly report from Datadog is highly anticipated in the tech sector: the company is listed in the Nasdaq-100 and is considered a barometer for cloud service demand. Investors will monitor revenue growth (expected at ~20-25% year-over-year) and the number of large clients, along with management’s forecast. In the previous quarter, DDOG slightly disappointed the market with a cautious outlook, making confirmation of robust demand against the backdrop of IT budget optimizations significant. If the company’s results exceed expectations and guidance is raised, this could prompt a rally in pre-market shares.
- Aspen Aerogels (ASPN) – a small innovative American company that manufactures aerogel insulation materials (for energy, construction, electronics). Aspen Aerogels’ results are interesting in the context of new technologies: the demand for its products is growing due to the shift towards energy efficiency and electric transportation (aerogels are used in EV batteries). The quarterly report will show revenue dynamics (previously experienced double-digit growth) and, importantly, the amount of losses, as the firm is still in the growth investment phase. If losses are decreasing and sales exceed forecasts, this will improve sentiment surrounding the stock.
- Warner Bros. Discovery (WBD) – a media conglomerate encompassing the Warner Bros. studio and Discovery networks (channels, HBO Max streaming). The report from WBD before market opens will provide insight into the state of the media industry. Key metrics include: the number of subscribers to streaming services, revenue from films released in the third quarter, and whether profitability has been achieved following the merger of Warner and Discovery. Investors also await management's comments on the prospects of new content and monetizing popular franchises. Warner Bros. Discovery's results may influence the entire entertainment sector, including Disney and Netflix, setting the tone for trends in streaming video and traditional TV.
After Market Closes (after-market)
- The Trade Desk (TTD) – an American advertising technology platform (programmatic advertising). The report will be released after US trading closes and will be closely examined as TTD is a leader in digital advertising. Continued double-digit revenue growth is expected due to the reallocation of advertising budgets to online. Investors will focus on metrics by segments (CTV – connected TV, video, mobile advertising) and comments regarding the state of the advertising market. Guidance for the next quarter (including the holiday season): strong guidance could lift shares and the entire adtech sector.
- Opendoor Technologies (OPEN) – an American proptech startup engaged in online buying and selling of residential real estate (iBuyer model). Opendoor’s Q3 results come after trading and, given the challenging situation in the US housing market (rising mortgage rates, slowing sales), may be weak. The company will likely report revenue contraction and continued losses due to a reduced number of transactions. Investors will assess how successfully Opendoor is offloading accumulated homes and cutting costs. Any signs of improving margins or stabilizing demand on the platform will be viewed positively, while an increase in losses will intensify pressure on the stock.
- Iris Energy (IREN) – an Australian-Canadian company focused on mining cryptocurrencies (Bitcoin) using renewable energy. The quarterly report will provide insight on the company's BTC mining output, mining cost, and financial results amidst the cryptocurrency market volatility. Investors will pay attention to production metrics (the number of Bitcoins mined) and profitability, especially considering the recent increase in Bitcoin's price in October. If Iris Energy has managed to increase its hash rate and lower unit costs, this will strengthen confidence in its business model. However, the high volatility of crypto assets renders its shares risky – markets could react sharply to both positive surprises (profits) and financial deterioration.
- MP Materials (MP) – an American mining company developing the Mountain Pass rare earth metal mine. Rare earth elements are critically important for electronics and electric vehicle manufacturing. The report from MP Materials after market closes will disclose production and processing volumes, revenue from concentrate sales, and progress on self-processing projects (aimed at reducing dependency on China). Investors await updates on the construction of processing facilities and possible comments regarding cooperation with Tesla and other consumers. The company is financially stable (profitable, with good margins), so the key focus will be on future plans and the state of rare earth oxide prices.
- SoundHound AI (SOUN) – a young artificial intelligence company specializing in voice recognition technology and voice assistants. Its quarterly report will shed light on the commercial advancement of SoundHound’s AI solutions. Agenda items include revenue growth (still modest), new contracts with car manufacturers and smart device companies, and loss levels. Given the hype surrounding AI during 2023–2025, investors want to see if this hype translates into actual sales. Improvement in metrics (e.g., reduced EBITDA losses, expanded customer base) will boost shares, while stagnation may lead to sell-offs due to the volatility of such stocks.
- DraftKings (DKNG) – one of the leading American companies in online betting and sports wagering. The earnings report from DraftKings for Q3 (released after the market closes) should confirm the ongoing boom in online betting in the US. Significant revenue growth is expected as the company actively expands into new states and grows its user base. Investors will assess metrics: monthly active user numbers (MAUs), average revenue per user, marketing expenses, and, most importantly, the trajectory of reducing losses. In the previous quarter, DraftKings improved its annual forecast and reduced losses better than expected, leading to a share rally. If the positive trend continues, DKNG shares may continue to grow. However, the industry is competitive (FanDuel, etc.), making any comments on market share and customer retention strategy crucial.
- NuScale Power (SMR) – an American company developing small modular nuclear reactors (SMRs). NuScale's project is viewed as potentially revolutionary in energy, but the company is still in the R&D phase and does not have revenue yet. Its quarterly report (released post-market) will primarily reflect cash burn, progress in obtaining licenses and orders. Investors anticipate news about potential clients and partners, as well as updates on the timeline for building the first plant. A significant development was the recent agreement with Romanian Nuclearelectrica and funding from the US government – details of this could surface in the report. SMR shares are volatile and tend to respond more to news than to financial metrics, so for investors, any positive signals regarding the commercialization of NuScale technologies are paramount.
- Innodata (INOD) – a small American IT company engaged in data processing, annotation, and artificial intelligence services. In Innodata's report, investors will look for revenue growth, particularly in the AI-annotation segment, where the company collaborates with major tech clients. Profitability will also be under scrutiny: is the company managing to stay profitable or at least close to breakeven? In 2023, INOD shares surged on the wave of interest in AI, so substantiating this enthusiasm with real financial results is the main question. If the metrics fall short of expectations, a significant price correction may follow post-report.
- Archer Aviation (ACHR) – a California startup developing electric air taxis (eVTOL). The quarterly report from Archer will be released late in the evening, and like many pre-revenue companies, it will mainly reflect development costs. However, the company has recently made progress – conducted test flights of its Midnight vehicles, secured investments from Stellantis and others, and plans to launch air taxi services in 2025–2026. Investors await updates on FAA certification, production status, and orders (Archer previously had preliminary orders from United Airlines). Financially, the key focuses are cash balances and cash burn for the quarter to understand how long the company can sustain itself before commercial launch. News announcements regarding partnerships or testing success may eclipse purely financial figures in market perception.
- Airbnb (ABNB) – a major American company and leader in the online accommodation booking market for travelers (home-sharing). Airbnb will release its results after the main market closes, but they will be among the most discussed. Q3 encompasses the summer holiday season, typically the most profitable for Airbnb, hence investors anticipate strong metrics: record revenue and high profits. Consensus expects revenue growth driven by sustained demand for short-term rentals globally, despite economic fluctuations. Important metrics include gross booking value (GBV), the number of nights booked, and average booking cost. In the previous quarter, Airbnb also announced a stock buyback program, and investors will look at how this has impacted earnings per share. Additionally, market participants will await management's comments on 2026 trends: whether the trend toward remote work and "digital nomads" – which stimulates long-term bookings – persists, and how the company adapts to increasing competition (from traditional hotels and local platforms). Given Airbnb's significance, its earnings report could influence the entire tech sector and the tourism industry in subsequent sessions.
Other International Reports (Europe, Asia, Russia)
Besides the aforementioned, important corporate reporting events are occurring in other regions on this day, which are also worth monitoring:
- Nissan Motor (Japan) – a major automaker (listed on the Nikkei 225) will publish its financial results for the first half of the 2025 fiscal year. Last week, Nissan revised its forecast and now expects an operating loss of around ¥275 billion for the entire fiscal year, primarily due to high tariffs in the US and fierce competition in the market. For the first half (April-September), the company provisionally estimates a net loss of ¥230 billion – these figures will be confirmed in the report on November 6. Investors will see how significantly Nissan has been affected by both declining sales (particularly in China and the US) and escalating costs. Progress on Nissan's restructuring program will also be of interest: the company is cutting costs, refreshing its model lineup, and focusing on electric vehicles. Any signs of improvement in Q2 (July-September) – such as reduced losses compared to Q1 – may bolster confidence that these crisis measures are yielding results. However, the overall picture is expected to remain challenging, and markets will respond primarily to management's forecasts about when Nissan will return to profitability.
- RUSAL (Russia) – one of the largest aluminum producers in the world, whose shares are traded on the Moscow Stock Exchange and Hong Kong. On this day, RUSAL's board of directors will convene (scheduled for November 6, 2025) to discuss recommendations for an extraordinary shareholder meeting (likely including issues on profit distribution and strategy). Typically, in early November, RUSAL also publishes operational results for Q3 (aluminum production, bauxite trends, sales dynamics) and may disclose financial metrics for the first nine months. Investors expect signals regarding exports from the company: thanks to a shift towards Asian markets and recovering aluminum prices, RUSAL's financial results during the reporting period may have improved. There is intrigue regarding the potential resumption of dividend payments; any recommendation regarding this from the board of directors will significantly drive the shares. Comments from management about the impact of electricity and raw material prices on production costs, and the outlook for demand in China (the largest consumer of aluminum) are also crucial. For investors in the Russian market, RUSAL's report will serve as a barometer for the mining and metallurgical sector, while the board's decisions will serve as a guide for corporate governance and shareholder returns.
Conclusion
November 6, 2025 is shaping up to be a day filled with critically important information for all categories of investors. The combination of significant macroeconomic events (PMI, jobless claims, central bank decisions) and extensive earnings reports sets the stage for heightened volatility across stock markets. As a result, CIS investors and others should approach trading on this day with caution and a well-prepared action plan. Recommendations include:
- Carefully monitor indicators as they are released (especially PMI and labor market statistics) and observe the reactions of global markets. This will help adjust strategies: for example, strong data from the US could strengthen the dollar and pressure commodity assets, whereas "soft" signals from central banks could support stocks and bonds.
- Analyze corporate reports not just by headlines, but also in detail. In periods of mass earnings releases, it is essential to distinguish between one-off factors and sustainable trends. Special attention should be paid to management's forecasts for future periods – these often drive stock prices more significantly than figures from the past quarter.
- Diversify risks and avoid excessive concentration on a single event. If an investor's portfolio is balanced across asset classes and regions, the impact of any negative surprise (whether due to macro data or a weak report) will be mitigated. For example, a combination of stocks in different sectors (technology, commodities, finance) along with the presence of safe-haven assets will help weather potential short-term fluctuations.
- Maintain focus on a long-term strategy. Despite the onslaught of news, impulsive decisions should be avoided. Markets may react sharply to fresh information, but for a level-headed investor, the overall trend is more important. By assessing fundamental signals (economic growth rates, trends in corporate profitability, actions by central banks), more considered decisions can be made without chasing fleeting speculative movements.
Ultimately, November 6 promises to be rich in insights. A savvy investor who evenly weighs both the macroeconomic backdrop and corporate earnings results will be able to benefit from this stream of information. Whether it’s about rebalancing a portfolio or spotting new opportunities during dips, the key is to maintain discipline and focus on overarching investment objectives. By monitoring the day’s events and their impact on markets, CIS investors will gain valuable experience and data for making further decisions. The path to success involves a combination of analysis and patience: this overview will help prepare for November 6, but the ultimate results depend on applying this information wisely in practice.
