Overview of Key Events for the Week of October 27–31, 2025: Federal Reserve and ECB Meetings, Earnings Reports from Apple, Amazon, Microsoft, Inflation, GDP, PMI, and Markets

Comprehensive Overview of Key Events for the Upcoming Week October 27–31, 2023: Reports from Major IT Companies (Apple, Microsoft, Amazon, Meta), Key Central Bank Meetings (U.S. Federal Reserve and European Central Bank), and Publication of GDP Data from the U.S. and Eurozone.

Monday, October 27 – Ifo in Germany and U.S.-China Negotiations

The new week will start off relatively calmly, as several markets in Asia and the CIS (New Zealand, Kazakhstan) will be closed on Monday for holidays. The focus will be on trade negotiations between the U.S. and China at the ministerial level, alongside the first important economic indicators from Europe and the U.S. In the morning, the ASEAN summit (Day 2) will continue in Malaysia, where regional trade and cooperation will be discussed. Key events for Monday include:

Geopolitics: U.S.-China trade negotiations will be taking place on the sidelines of the ASEAN summit, aimed at reducing tension between the two economies. Furthermore, a bilateral meeting is expected between U.S. President Donald Trump and the new Prime Minister of Japan, focusing on trade relations and security in the Asia-Pacific region.
Central Banks: The head of the Reserve Bank of Australia will deliver a speech (11:15 MSC). Investors will be keen to hear his comments on inflation and monetary policy in Australia.
Data from Europe: The Ifo Business Climate Index in Germany (October) will be released at 12:00 MSC. This indicator will reflect the mood in German business and may impact the euro and European stocks, considering Germany's role as the locomotive of the Eurozone economy.
U.S. Statistics: At 15:30 MSC, data on durable goods orders for September will be released – an important indicator of investment activity in the manufacturing sector. Subsequently, at 17:00 MSC, new home sales data for the U.S. for September will be published, reflecting the state of the real estate market, while at 17:30 MSC, the Dallas Fed Manufacturing Index for October, indicating business activity in the region's manufacturing sector, will be disclosed.
Russian Retail: X5 Retail Group (Russia), one of the largest retailers in the Russian Federation (chains "Pyaterochka", "Perekrestok"), will publish its financial results for the first nine months of 2025 (IFRS). The report will showcase the revenue dynamics in the food segment and the impact of inflation on consumer demand.
U.S. Industrial Sector: Waste Management (U.S.), a leading company in waste recycling and management, will report on Q3 results. Its outcomes will signal the level of business activity and investment in infrastructure. Additionally, Nucor (U.S.), the largest steel manufacturer in the U.S., will also report; investors will evaluate whether high steel prices and demand from construction support the company's profitability.
High Technologies and Chips: NXP Semiconductors (U.S.), a major semiconductor manufacturer (particularly for the automotive industry), will present its quarterly results amid global demand for automotive and industrial chips. Furthermore, Cadence Design Systems (U.S.), a software developer for chip design, will announce its figures, reflecting trends in the semiconductor sector and the R&D spending of clients.

Therefore, Monday's combination of diplomatic activity at the ASEAN summit and the initial quarterly reports will set the tone for the start of the week. Investors will be watching whether the business climate improves in Germany and whether U.S. economic data confirms the resilience of the U.S. economy. Initial corporate results (especially in the industrial and technology sector) will provide signals about business sentiments ahead of a wave of reports in the coming days.

Tuesday, October 28 – Bank Reports (Sberbank, HSBC) and Consumer Confidence

Tuesday will see an increase in information flow. The third day of the ASEAN summit continues, where world leaders are discussing economic integration, while important data on consumer sentiments are anticipated across the markets. European exchanges will react to the morning reports from major companies, while the U.S. market prepares for the release of several notable quarterly results after the close. Key events for the day include:

Consumer Sentiment in Europe: Early in the morning, Germany will release its GfK consumer confidence index for November (10:00 MSC). A slight change in this indicator is expected, reflecting the mood of German households ahead of the holiday spending season.
U.S. Housing Market: At 16:00 MSC, the S&P/Case-Shiller Home Price Index for August will be announced, assessing property price trends in major U.S. cities. Trends in the housing market will indicate how rising mortgage rates impact property costs.
Confidence in the U.S. Economy: At 17:00 MSC, two indicators will characterize the sentiment in the U.S. economy. The Conference Board's Consumer Confidence Index (October) will reflect households’ confidence in the economic situation and labor market, while the Richmond Fed Manufacturing Index (October) will indicate the state of industry in the U.S. Mid-Atlantic region. These indicators are crucial for assessing consumer spending and the manufacturing sector's prospects heading into Q4.
Commodity Markets: At 23:30 MSC, the American Petroleum Institute (API) will publish its weekly data on U.S. oil inventories. Significant changes in inventories may influence oil prices, which is critical for the commodity market and the currencies of exporting countries.
Russian Banking Sector: Sberbank and VTB, two largest banks in Russia, will present their financial results. Sberbank will publish its IFRS report for the first nine months of 2025 while VTB will report for Q3 2025. Investors will analyze profit dynamics, interest income, and lending volumes to assess the state of the Russian banking system amid changing interest rates and economic conditions.
Global Banking Sector: One of the largest international banks, HSBC (UK), will report its Q3 profits. As a global lender with a strong presence in Asia, HSBC will provide insight into the condition of the banking sector in Europe and Asia, including trends in interest margins and reserves for potential losses.
Digital Payments: Companies in the fintech sector will publish quarterly reports. PayPal (U.S.), a leading online payment provider, will report amid competition in the fintech industry and the development of digital wallet services. Visa (U.S.), the largest global payment system, will also present results – investors expect an increase in transaction volumes due to the recovery of travel and consumption, along with management comments about future prospects amid the evolution of digital payments.
Transport and Logistics: UPS (U.S.), a global leader in express delivery, will release its Q3 reports. UPS's data is traditionally seen as a barometer of global trade: shipping volumes and the company's forecasts will signal the state of global supply chains and demand from businesses and online retailers.
Healthcare: UnitedHealth Group (U.S.), the largest health insurance company in the U.S., will report its quarterly results. Investors will evaluate the growth in the insured population, medical expenses, and management forecasts considering changes in healthcare systems and drug prices.

Tuesday will be a day of significant confidence indicators: morning data from Germany and evening data from the U.S. will reveal how confident consumers and businesses are regarding the economic situation. Against this backdrop, investors in Russia will scrutinize results from Sberbank and VTB to gauge the financial health of these key banks. Global players will be awaiting reports from Visa, PayPal, UPS, and HSBC, which will set the tone for their respective sectors and may influence market sentiment through the middle of the week.

Wednesday, October 29 – Fed Decision and Big Tech Reports (Microsoft, Alphabet, Meta)

On Wednesday, market attention will be directed towards the U.S. Federal Reserve meeting – investors anticipate a decision on interest rates and signals regarding future policy. In addition to the Fed, Wednesday is packed with other events: a number of important inflation indicators, a Bank of Canada meeting, and major corporate reports from tech giants. Trading in Hong Kong and Turkey will again be suspended (holiday), yet global activity will remain high. Key events for Wednesday include:

Inflation in Asia: Early in the morning (03:30 MSC), the Australian Consumer Price Index (CPI) for Q3 2025 will be revealed. The inflation data from Australia could influence the Australian dollar and expectations regarding future RBA decisions, setting the tone for the Asian session.
Monetary Policy in Russia: Elvira Nabiullina, the Chair of the Bank of Russia, will address the Federation Council, where she will evaluate the economic situation and may outline the regulator's stance on the key interest rate and inflation. Similarly, on this day, Rosstat will publish fresh consumer inflation data for Russia. These events are significant for understanding the direction of Russian monetary policy and the stability of the ruble.
Statistics in the U.S.: At 15:30 MSC, the preliminary U.S. trade balance for September will be announced – an indicator of external trade that reflects the ratio of exports to imports. At 17:00 MSC, data on pending home sales for the U.S. housing market in September will be released, showcasing activity in the real estate sector. Although these indicators are less significant than the forthcoming Fed decision, they will complement the overall picture of the state of the U.S. economy by the end of Q3.
Bank of Canada Decision: At 16:45 MSC, the Bank of Canada meeting will take place, and a decision regarding the interest rate is expected. The Canadian regulator will assess its policy against the backdrop of the latest inflation and GDP data. During the press conference (17:30 MSC), the head of the Bank of Canada will share economic forecasts – this will influence the Canadian dollar and sentiments in the commodity markets given Canada’s significance as an oil producer.
Energy Market: At 17:30 MSC, the U.S. Department of Energy will publish data on oil and petroleum product inventories (EIA). These weekly reports may induce price fluctuations in oil, particularly considering supply and demand dynamics ahead of the winter season.
Fed Decision of the Day: The culmination of the day will be the announcement of the results of the Fed meeting at 21:00 MSC. The Federal Open Market Committee will announce its interest rate decision (most investors expect the rate to be held steady, but they will closely monitor the phrasing). At 21:30 MSC, a press conference led by Jerome Powell will commence. His comments on inflation, the labor market, and future steps by the Fed will set the direction for market movements – from currencies and bonds to stocks, particularly those sensitive to rates.
European Auto Industry and Banks: On Wednesday, major European companies will announce their earnings. Volkswagen (Germany), one of the world’s leading automakers, will publish Q3 results – investors will seek data regarding electric vehicle sales and the state of key markets in Europe and China. Additionally, Deutsche Bank (Germany) will also present its figures — its profit and reserves results will signal the health of the European banking sector and the impact of ECB rate increases on the financial industry.
Aerospace and Industrial Sector: Boeing (U.S.), the leading global aviation manufacturer, will report amid the recovery of air travel. Investors will be interested in the volume of new aircraft orders and the status of production chains. Caterpillar (U.S.), an industrial giant and indicator of global machinery manufacturing, will unveil its quarterly results – special attention will be paid to demand for construction and mining equipment as a barometer of infrastructure and commodity investments.
Telecom and Consumer Sector: Verizon (U.S.), one of the largest telecommunications operators in the U.S., will publish its financial results. The growth of 5G services and mobile subscriber churn/growth will be analyzed to assess competitive dynamics in the communications market. Additionally, Starbucks (U.S.), the global coffeehouse chain, will report – its sales and customer traffic worldwide will showcase consumer spending trends and recovery in China, its second most important market.
Tech Giants: The spotlight will be on reports from three "Big Tech" companies. Microsoft (U.S.) will reveal its quarterly figures, expecting steady growth in its Azure cloud segment along with comments on AI service implementations affecting expenditures. Alphabet (U.S.), the parent company of Google, will present results where growth in advertising revenue across Google and YouTube platforms and cloud division achievements will be key. Meta (U.S.), the parent company of Facebook, Instagram, and WhatsApp, will disclose audience and revenue growth; investors will be interested in the monetization of Reels, developments in virtual reality businesses, and cost management.

Wednesday is shaping up to be one of the most eventful days: the Fed's decision and reports from major tech companies could lead to increased volatility in the markets. Prior to the Fed's announcement, markets may remain relatively cautious, reacting to data from Canada and Australia. However, in the evening, investor focus will shift to Jerome Powell's words – any hints at changes in monetary policy will affect all assets. Furthermore, financial results from Microsoft, Alphabet, and Meta will steer the technology sector: positive surprises may bolster market optimism, whereas weak results may heighten concerns regarding growth projections. In Europe, attention will be directed to Volkswagen and Deutsche Bank, as their reports will complement the overall economic and financial health picture in the region.

Thursday, October 30 – ECB Meeting, U.S. GDP, and Reports from Apple and Amazon

Thursday may serve as a defining day of the week: several major economies will publish GDP estimates for Q3, the European Central Bank will hold a meeting, and in the evening, investors expect reports from Apple and Amazon. The geopolitical agenda will also remain central – a meeting of U.S. and Chinese leaders is scheduled for this day. All these events promise to seriously impact investor sentiment. Key themes for Thursday include:

U.S.-China Leaders Summit: U.S. President Donald Trump will meet with Chinese President Xi Jinping. This bilateral summit will occur amid ongoing trade negotiations and the APEC summit. Markets hope for positive signals, easing trade tensions, or at least plans to continue dialogue between the two largest economies in the world.
Bank of Japan: At 06:00 MSC, the Bank of Japan will hold a monetary policy meeting. After a prolonged period of ultra-loose policy, investors will look for hints of potential changes – for example, adjustments to yield curve control. At the press conference at 09:30 MSC, BOJ management will clarify their decision; any changes or forecasts may significantly influence the yen's exchange rate and sentiment in Asian markets.
Eurozone Economy (First GDP Estimate): Several key publications will be released in Europe. In France, preliminary Q3 GDP figures will be announced at 09:30 MSC, followed by Germany's GDP assessment at 12:00 MSC. Weak growth or stagnation is expected due to high rates and last winter's energy crisis. At 13:00 MSC, aggregated GDP data for the Eurozone for Q3 as well as the consumer sentiment index and inflation expectations indicator for October will be published. Together, these indicators will provide a broad view of regional economic conditions amid inflation struggles.
U.S. GDP: One of the day's key events is the first estimate of U.S. GDP for Q3 (15:30 MSC). Predictions indicate a slowdown in economic growth compared to the surge in Q2, but the pace may still remain above trend levels. Simultaneously, weekly data on initial jobless claims will be released, complementing the overall labor market picture. Strong GDP could strengthen the dollar and push bond yields up, while weak figures could amplify discussions on a potential rate cut by the Fed.
ECB Decision: The European Central Bank will announce its interest rate decision at 16:15 MSC. Following a series of rate hikes, the market anticipates a pause from the ECB amid signs of an economic slowdown in the Eurozone. At a press conference (16:45 MSC), ECB President Christine Lagarde will present updated forecasts and explain the regulator's position. Any signals regarding the ECB's further intentions – such as the duration of the high rate period – will influence the euro, European bonds, and stock markets.
Russian Economic Policy: On Thursday, the State Duma will discuss the main directions for Russia's monetary policy for the upcoming period. This annual discussion, where lawmakers and representatives of the Bank of Russia establish guidelines on inflation, the ruble's exchange rate, and the banking sector, may not cause immediate market reactions, but investors can glean insights about economic policy priorities in Russia.
Energy Market: At 17:30 MSC, weekly statistics from the U.S. Department of Energy on natural gas inventories will be released. This report could impact gas prices, particularly with the heating season beginning and the level of storage fill in Europe and the U.S.
European Oil and Gas Giant: Royal Dutch Shell (Shell plc, UK/Netherlands), one of the largest oil and gas companies in the world, will present its Q3 financial results. Investors will assess Shell's profitability in light of oil prices around $90 per barrel, as well as its capital return measures to shareholders (dividends, stock buybacks) and progress in business diversification (gas, renewables).
Finance and Payments: Mastercard (U.S.), a leading global payment system, will report for the quarter. The market expects growth in card transactions due to increasing consumer spending and travel; data on the development of digital payment technologies will also be of interest. American brokerage and cryptocurrency fintech SoFi (U.S.) will also report its results – these figures will signal market sentiments in the new-generation financial services landscape, though the company's scale is much smaller than traditional players.
Pharmaceuticals: Three pharmaceutical giants will publish quarterly reports: Eli Lilly (U.S.), Merck (U.S.), and Bristol Myers Squibb (U.S.). Investors will closely examine sales of key drugs and forecasts for new product launches. Particular attention will be paid to the oncology and diabetes medication segments (in the case of Eli Lilly, due to the success of products for treating obesity and diabetes). Successful reports from pharmaceutical companies may support the healthcare sector on the stock market.
Consumer Sector: Two major American consumer market brands will present their results. Altria Group (U.S.), a tobacco product manufacturer (Marlboro), will report amid stable demand and a shift to electronic cigarette segments – comments on industry regulation will be crucial. Kimberly-Clark (U.S.), a global manufacturer of consumer goods (brands like Kleenex, Huggies, etc.), will show how inflation and raw material price changes impacted margins and demand for everyday goods.
Media Corporations and Communication: Comcast (U.S.), a media and telecommunications conglomerate, will present its quarterly report. Investors will be interested in subscriber dynamics for the streaming service Peacock, cable business results, and the outlook for the company amid media market competition.
Big Tech – Highlight of Earnings Season: After market close, investors will receive financial reports from two of the world's largest companies. Apple (U.S.) will report results for Q3 2025 financial year, with key questions surrounding new iPhone sales, revenue dynamics in China, and achievements in the services and wearable devices business. Amazon (U.S.) will publish figures for its retail and AWS cloud divisions. Focus will be on online sales growth and e-commerce profitability in light of changing consumer preferences, as well as growth rates for cloud services amid competition from Microsoft and Google. These two reports could trigger significant movements both in the companies’ shares and across the market, given their weight in the indices.
New Technologies and Cryptocurrency Industry: Thursday will also bring results from companies in the new economy. Coinbase (U.S.), the largest cryptocurrency exchange, will report amid volatility in the digital assets market — investors will look at trading volumes and revenue from fees. Additionally, the market awaits the first public report from Reddit (U.S.) — the popular social media platform, newly listed on the stock market. Audience metrics and advertising income from Reddit will serve as indicators of the digital advertising market's state and investor interest in new tech issuers.

On Thursday, markets will simultaneously receive a flood of critically significant information. U.S. and Eurozone GDP data will capture the trajectory of economic growth – this will aid in assessing the efficacy of central banks' measures to curb inflation and whether they have led to a recession. The ECB’s decision and Lagarde’s comments will shape expectations for monetary policy in Europe in the coming months. In the evening, the focus will shift to the corporate sector: reports from Apple and Amazon might drive significant shifts in the technology index Nasdaq and set the tone for the entire market in the final trading day of the week. Investors will need to filter news carefully to isolate the most significant signals for their strategies.

Friday, October 31 – Inflation in Eurozone and U.S.; APEC Summit Outcomes

Friday’s business activity will dip slightly following the event-packed previous days, but markets are still awaiting important inflation data, while a major international forum kicks off in Asia. The APEC summit begins in South Korea (Day 1), where leaders of Asia-Pacific countries will gather to discuss global trade and investment issues. Key events for Friday include:

China's Economy: Early in the morning (04:30 MSC), China will publish manufacturing and services PMI indices along with a composite index for October. These indicators will reveal whether the world’s second-largest economy continues to recover after the summer downturn. Particularly critical is the manufacturing PMI – a return above 50 points would signal growth in China’s industry, which would be positive for commodity markets.
Inflation in Eurozone: At 13:00 MSC, the preliminary estimate of the Eurozone Consumer Price Index (CPI) for October will be announced. Following the inflation peak earlier in the year, markets are anticipating a continued slowdown in price growth. A decrease in inflation will solidify expectations of the ECB pausing rate hikes, while an unexpected spike in prices will intensify pressure on the regulator. The response of the euro and European bonds will depend on how closely actual data aligns with forecasts.
Inflation in the U.S.: At 15:30 MSC, the U.S. Department of Commerce will release the Personal Consumption Expenditures (PCE) price index for September – this is the Fed’s preferred inflation gauge. Data on Americans’ incomes and expenditures will also be published. A slowdown in PCE inflation may support expectations of an impending rate cut, while persistently high inflation will remind of the risks associated with prolonged Fed's tight monetary policy.
State of the Canadian Economy: At 15:30 MSC, Canada’s GDP for August will be disclosed. Although this is a somewhat lagging indicator, it will reflect the trajectory of the Canadian economy at the end of summer, significant in the context of the recent decision by the Bank of Canada. Moderate growth without recession signs may support the Canadian dollar.
Business Activity in the U.S.: At 16:45 MSC, the Chicago PMI for October will be announced. This regional leading indicator for the manufacturing sector will allow an assessment of how the U.S. industrial sector is faring at the beginning of Q4, complementing the overall picture after national PMI and federal indices from preceding days.
Oil Sector: Two of the largest U.S. oil corporations, ExxonMobil (U.S.) and Chevron (U.S.), will report for Q3. Focus will be on their production volumes, free cash flow, and capital return plans to shareholders. These reports will shed light on how oil and gas giants have capitalized on the favorable price environment and their outlook for the energy market.
Pharmaceuticals: AbbVie (U.S.), a major biopharmaceutical company, will publish quarterly results. Investors will focus on sales trends of its flagship drugs (particularly, the immunology drug Humira and its new competitors) as well as progress in diversifying its drug portfolio. AbbVie’s results will influence sentiment in the healthcare sector following reports from other pharmaceutical giants the day prior.
Consumer Sector: Colgate-Palmolive (U.S.), a global producer of household and personal care products, will report its earnings. Investors will pay attention to sales growth in emerging markets, the company's pricing strategies, and the impact of raw material prices on its margins. As a company selling everyday goods, Colgate serves as an indicator of consumer resilience even in times of economic uncertainty.

The final day of the week will provide markets with final touches for forming the weekly balance. Morning PMIs from China will set the tone for the Asian session – improved figures will support commodity currencies and stocks of mining companies. European and U.S. inflation indices (CPI and PCE) will either confirm the trend of slowing price growth or force investors to reassess their rate expectations. Reports from ExxonMobil and Chevron may impact the entire energy sector, concluding the quarterly reporting season for oil and gas companies on a high note. Collectively, Friday’s events will help investors adjust their strategies before the new month, particularly regarding bond yields and sector preferences in stock markets.

Saturday, November 1 – APEC Summit Outcomes

On Saturday, active trading on the exchanges will be paused, but political activity will continue: the APEC summit in South Korea will conclude (Day 2). Leaders of Asia-Pacific countries will summarize the meeting's outcomes, possibly agreeing on a joint declaration regarding trade, investments, and sustainable development issues. The final statements from the summit may contain agreements that could influence international relations and market sentiments in the following week – investors should take note of mentions of cooperation in technology, energy, and geopolitics.

What Investors Should Pay Attention To

The week of October 27–31 is rich in events capable of reshaping market dynamics. Investors should prioritize monitoring central bank decisions – the outcomes of the Fed (Wednesday) and ECB (Thursday) meetings will set direction for currency and bond markets, subsequently impacting equities. Corporate reports from tech giants are equally important: results from Apple, Microsoft, Amazon, Alphabet, and Meta will provide fresh insights into key sectors – from cloud technology to consumer demand in e-commerce. It is advisable to factor in potential volatility into strategies: positive surprises could spur risk appetite, while disappointments may amplify a flight to safe-haven assets.
Additionally, macroeconomic data on GDP and inflation in major economies (U.S., Eurozone, China) will help adjust expectations for growth and monetary policy. Particular attention should be paid to the U.S. PCE index and European CPI: their movements will either confirm that the peak of inflation has passed or indicate the need for a more prolonged tightening of central banks' policies. Finally, geopolitical signals from the ASEAN and APEC summits, along with the meeting between U.S. and Chinese leaders, may indirectly influence sentiments – any signs of easing trade disputes will be beneficial for markets, while escalation will add nervousness. Thus, investors will need to balance between corporate news and macroeconomic developments, responding thoughtfully to the most significant week’s impulses.