Investor Calendar July 13-17, 2026: US CPI, China GDP, and Earnings Season

Economic Calendar for the Week of July 13–17, 2026: US CPI and PPI, China GDP, OPEC Report, Bank of Canada Decision, Earnings Reports from Major Banks, ASML, TSMC, Netflix, and Other Public Companies

The week of July 13–17, 2026, is set to be one of the pivotal periods for global markets during the summer. Investors in the US, Europe, Asia, and Russia will be focused on several key factors: the official start of the US corporate earnings season, June inflation data for US CPI and PPI, China's GDP for the second quarter, retail sales, industrial production, and housing market data, the Bank of Canada's interest rate decision, OPEC's monthly oil market report, and potential advancements in the EU's 21st sanctions package against Russia.

The main intrigue of the week lies in whether the market can maintain its risk appetite after a strong first half of the year and whether earnings reports from major public companies will affirm profit resilience. The earnings season will kick off with the US banking sector: JPMorgan Chase, Bank of America, Goldman Sachs, Wells Fargo, Citigroup, and Morgan Stanley will set the tone for the S&P 500. In Europe, investors will be watching ASML, BP, Ericsson, Rio Tinto, Nordea, ABB, Atlas Copco, Volvo, Sandvik, and Assa Abloy. In Asia, key companies to observe will include TSMC, Wipro, Tech Mahindra, alongside macro data from China. For the Russian market, MOEX will focus on the operational results of Aeroflot, X5, and Henderson, as well as dividend events from Sberbank and other issuers.

Key Themes of the Week for Investors

The economic events of the week will create a dense network of signals for evaluating monetary policy, corporate profits, and global demand. Investors should highlight several areas:

• US Inflation: CPI on Tuesday and PPI on Wednesday will reveal how persistent price pressures are in light of volatility in commodity markets.
• Federal Reserve and Waller's Rhetoric: Testimonies in the House and Senate may influence rate expectations, Treasury yields, and the dollar.
• Corporate Earnings: US banks, technology firms, equipment manufacturers, pharmaceuticals, and the consumer sector will indicate the real state of profitability.
• Oil Market: The OPEC report, API, and EIA inventory data will serve as benchmarks for Brent, WTI, Urals, oil and gas companies, and the currencies of commodity-exporting countries.
• China and Asia: Trade and GDP data from China are crucial for Nikkei 225, industrial metals, semiconductors, and Europe's exporters.
• Europe and Sanctions: The prospective implementation of the EU's 21st sanctions package against Russia could intensify geopolitical premiums in energy, logistics, and the financial sector.

Economic Events for Monday, July 13: EU Sanctions, OPEC Report, and US Federal Budget

Monday will kick off the week not so much with macro statistics, but rather with geopolitics and commodities signals. Discussions and possible advancements regarding the EU's 21st sanctions package against Russia are expected, along with a meeting of coalition members concerned about Ukraine. For investors, this is a risk-premium assessment factor concerning Russian assets, the energy sector, logistics, the banking sector, and European industrial companies.

At 14:00 MSK, the monthly OPEC report on the oil market will be released. This document is crucial for assessing supply and demand balances, OPEC+ quotas, global oil consumption forecasts, and production dynamics outside the cartel. For the oil and gas sector, this is one of the key documents of the month: reactions in Brent and WTI may significantly impact oil company stocks, the currencies of commodity economies, and inflation expectations.

At 21:00 MSK, the US will publish its federal budget data for June. The budget deficit, trends in tax revenues, and expenditures will be important for the US bond market, especially amidst discussions regarding the trajectory of national debt and Treasury yields.

Corporate Earnings for Monday: Notable companies include PrairieSky Royalty in Canada, Thermador Groupe in France, while in the Russian market, operational results from Aeroflot for June are anticipated. Dividend events for specific issuers, including the closure of registers and the last days for purchasing shares with dividends, are also significant for MOEX.

What to Watch for Investors: The tone of the EU sanctions package, OPEC's demand forecast, the reaction of the ruble and oil and gas stocks, and the dynamics of US yields following the budget data.

Economic Events for Tuesday, July 14: US CPI, China Trade, and Earnings Reports from Major Wall Street Banks

Tuesday will be the first truly significant day of the week. At 06:00 MSK, China will publish trade data for June. China's exports and imports are crucial for evaluating external demand, the state of the industrial cycle, commodity prices, and the outlook for Asian markets. Weak data could intensify pressure on cyclical sectors, while strong data may boost metallurgists, logistics, industrial companies, and Nikkei 225.

At 09:00 MSK, Switzerland will present June's PPI. While this indicator is not a primary global driver, it helps assess price pressures in Europe. The main event of the day will be the US CPI data at 15:30 MSK. Investors will closely watch not only the overall Consumer Price Index but also the core inflation rate excluding food and energy. This CPI could significantly shift expectations regarding the Federal Reserve's interest rates, the dollar, gold, S&P 500, and Nasdaq.

At 17:00 MSK, Waller's testimony in the House Financial Services Committee is anticipated. The market will seek signals regarding the feasibility of further tightening or pausing in Fed policy. Late at night, at 00:30 MSK, API inventory data for US oil will be released.

Corporate Earnings for Tuesday: The pivotal part of the US earnings season begins. JPMorgan Chase, Bank of America, Goldman Sachs, Wells Fargo, and Citigroup will report. Also in focus are Fastenal, BP, DNB Bank, Ericsson, and Rio Tinto. For US banks, investors will evaluate net interest margins, reserves for credit losses, deposit trends, trading revenues, and investment banking fees.

What to Watch for Investors: US CPI against expectations, the reaction of two-year Treasuries, US bank earnings, the dynamics of the financial sector of S&P 500, as well as signals from China regarding exports and imports.

Economic Events for Wednesday, July 15: China's GDP, US PPI, Bank of Canada Rate Decision, and Fed Beige Book

Wednesday will merge several key blocks: China, the US, Canada, Russia, and corporate earnings from global leaders. At 05:00 MSK, China will release its GDP data for the second quarter of 2026. This is one of the week's most important macro indicators for global investors, as it influences expectations for demand for oil, gas, metals, semiconductors, consumer goods, and transportation.

At 12:00 MSK, Eurozone industrial production for May will be published. For Euro Stoxx 50, this figure is significant as an indicator of the state of Europe's industrial core. At 15:30 MSK, the US will publish the NY Empire State Manufacturing Index for July and PPI for June. If PPI shows an acceleration in producer prices, the market may price in a more hawkish stance from the Fed.

At 16:45 MSK, the Bank of Canada will announce its rate decision, followed by a press conference at 17:30 MSK. At the same time, the EIA will release US oil inventory data. At 19:00 MSK, Russia will publish its CPI, crucial for expectations regarding the Bank of Russia's rate decision, the ruble, and Russian bonds. Finally, at 21:00 MSK, the Fed will present the Beige Book - a qualitative overview of regional economic conditions across the US.

Corporate Earnings for Wednesday: ASML, Johnson & Johnson, Morgan Stanley, BlackRock, Progressive, Bank of New York Mellon, PNC Financial, Elevance Health, Cintas, United Airlines, M&T Bank, Conagra Brands. In Europe, focus will be on Richemont, Antofagasta, SEB, SEB S.A. and other issuers. ASML will serve as a key indicator of demand for semiconductor and AI infrastructure equipment.

What to Watch for Investors: China's GDP, US PPI, Bank of Canada decision, tone of the Fed's Beige Book, ASML's report, and the dynamics of US second-tier banks.

Economic Events for Thursday, July 16: UK GDP, US Retail Sales, and Earnings Reports from TSMC, Netflix, UnitedHealth, and GE Aerospace

Thursday will be the most intense day of the week for corporate earnings. At 09:00 MSK, the UK will publish its GDP for May, significant for the pound, FTSE 100, and European cyclical assets. At 12:00 MSK, the Eurozone will present its trade balance for May, allowing assessment of European export competitiveness amidst currency fluctuations and weak industrial demand.

At 15:30 MSK, the US will release three important indicators: Initial Jobless Claims, Philadelphia Fed Manufacturing Index, and retail sales for June. This strong dataset is crucial for assessing consumer demand, labor market conditions, and industrial activity. At 17:00 MSK, Pending Home Sales will be released, followed by EIA natural gas stocks at 17:30 MSK.

Corporate Earnings for Thursday: TSMC, UnitedHealth Group, Netflix, GE Aerospace, Abbott Laboratories, Prologis, U.S. Bancorp, State Street, Citizens Financial, Intuitive Surgical, Nordea, Telenor. In Europe, earnings from Vinci, Publicis Groupe, Aéroports de Paris, ABB, Investor AB, Atlas Copco, SSE, and Experian are expected. In Asia, attention will be directed towards TSMC, Wipro, and Tech Mahindra. Russian investors will observe X5's operational results for the second quarter and first six months of 2026, as well as operational data from Henderson.

TSMC will serve as a critical indicator of chip demand and AI computing. Netflix will test the sustainability of its subscription model and advertising monetization. UnitedHealth and Abbott will provide guidance on the healthcare sector, while GE Aerospace will indicate trends in the aviation cycle, and Prologis will shed light on warehousing and global logistics.

What to Watch for Investors: US retail sales, earnings reports from TSMC and Netflix, UnitedHealth forecasts, GE Aerospace orders, X5 operational results, and reactions in the technology, healthcare, and real estate sectors.

Economic Events for Friday, July 17: Eurozone CPI, US Industrial Production, Michigan Sentiment, and CLARITY Act Hearings

Friday will wrap up the week with important macroeconomic data from Europe and the US. At 12:00 MSK, the Eurozone will publish its CPI for June. For Euro Stoxx 50 and European bonds, this is the primary inflation indicator of the week: it influences expectations regarding ECB policy, the banking sector, consumer stocks, and the EUR/USD currency pair.

At 15:30 MSK, the US will present Housing Starts for June. At 16:15 MSK, industrial production data will be released, followed by the preliminary Michigan Consumer Sentiment Index for July and consumer inflation expectations at 17:00 MSK. This block of data is crucial for evaluating the resilience of the US consumer, production dynamics, and the future course of Fed policy.

Additionally, a much-anticipated hearing on the CLARITY Act regarding cryptocurrency market structure is expected in the US Congress. Regulation of cryptocurrencies, token status, authority distribution among regulators, and marketplace rules could significantly impact the Bitcoin, Ethereum, public crypto companies, and fintech sectors.

Corporate Earnings for Friday: Travelers, Regions Financial, Truist Financial, Fifth Third Bancorp, Volvo, Autoliv, SKF, Husqvarna, Sandvik, Assa Abloy, Danske Bank, Swedbank, EQT, Saab, and Epiroc. For regional banks in the US, loan portfolio quality, funding costs, and deposit dynamics are particularly significant. For European industrial companies, orders, margin, currency effects, and demand forecasts for the second half of the year will be in focus.

Russian Market: Friday is also significant for MOEX investors due to the last day for purchasing Sberbank shares with dividends. Dividend events may influence trading volumes, short-term volatility, and demand structure in Russian blue chips.

Indices and Risk Geography: S&P 500, Euro Stoxx 50, Nikkei 225, and MOEX

For global investors, the week of July 13–17 will test several investment hypotheses. In the US, S&P 500 and Nasdaq will depend on inflation, bond yields, and the quality of corporate earnings. Banks will reflect the state of the credit cycle, technology companies will reveal the resilience of AI capex, and consumer data will indicate the strength of domestic demand.

In Europe, Euro Stoxx 50 will respond to Eurozone CPI, trade balance, industrial production, and earnings reports from ASML, ABB, Nordea, Volvo, Sandvik, and Assa Abloy. For Nikkei 225, China, TSMC, semiconductor cycles, and the yen's currency factor will be critical. For MOEX, key drivers will remain oil, the ruble, sanctions policy, inflation in Russia, dividends, and the operational results of major issuers.

• S&P 500: banks, US inflation, retail sales, earnings reports from Netflix, UnitedHealth, GE Aerospace, and TSMC through the global technology supply chain.
• Euro Stoxx 50: ASML, European inflation, industrial sector, banks, and exporters.
• Nikkei 225: China, semiconductors, yen exchange rate, and global demand for electronics.
• MOEX: oil, EU sanctions, Russian CPI, dividend calendar, and operational data from companies.

What Investors Should Focus on by the End of the Week

The week of July 13–17, 2026, could mark a turning point in the evaluation of the second half of the year. If US CPI and PPI confirm a slowdown in inflation, and if earnings reports from banks and tech firms exceed expectations, the market will gain arguments in favor of continuing the risk-on sentiment. Conversely, if inflation accelerates again and companies begin to express caution regarding demand and margins, investors may shift towards profit-taking in overheated sectors.

1. US Inflation: CPI and PPI will set the trajectory for interest rates, the dollar, and bond yields.
2. Bank Earnings: JPMorgan, Bank of America, Goldman Sachs, Wells Fargo, Citigroup, and Morgan Stanley will demonstrate the health of the US financial system.
3. China: Trade and GDP will signal the indicators of global industrial demand.
4. Oil and Gas: The OPEC report, API/EIA inventories, and geopolitics will impact Brent, WTI, Urals, and oil and gas stocks.
5. Technology: ASML and TSMC will provide crucial signals regarding AI infrastructure and semiconductors.
6. Europe and Russia: EU sanctions, Eurozone CPI, and Russian CPI are important for currencies, bonds, energy, and MOEX.
7. Crypto Regulation: The CLARITY Act hearings may increase volatility in digital assets and fintech.

Investors should approach this week as a period of high event concentration. The optimal strategy is not to evaluate individual releases in isolation but to consider the aggregate signals: inflation, rates, reports, oil, China, and geopolitics. It is the intersection of these factors that will determine the dynamics of the S&P 500, Euro Stoxx 50, Nikkei 225, MOEX, commodity assets, and the currencies of emerging markets in the second half of July.