Key Economic Events and Corporate Reports for Wednesday, December 17, 2025: Inflation in the UK, Eurozone, and Russia, EIA Oil Inventory Data in the US, and Earnings from Major Public Companies.
Inflation in the UK: Ahead of the Bank of England's Decision
At 10:00 Moscow time, data on the UK's inflation for November will be published. The annual CPI is expected to remain around 3-4% year-on-year, potentially slightly accelerating compared to the October figure (approximately 3.6% per annum). Inflation in the UK has significantly decreased from double-digit peaks earlier this year; however, it still exceeds the Bank of England's target level of 2%. Moderated price dynamics heighten expectations that the Bank of England may implement its first rate cut in the past couple of years in its meeting the following day (December 18). A strong slowdown in CPI would increase the likelihood of a monetary policy easing, while an unexpectedly high inflation spike would compel the regulator to exercise caution. The market will closely monitor the morning release, as it will set the tone for movements in the British pound and UK equities.
Inflation in the Eurozone: Near the Target Level
The statistical office of the European Union will release the final CPI index for November at 13:00 Moscow time. Preliminary estimates suggest that annual inflation in the Eurozone was around 2.2%, slightly up from 2.1% in October. This level is nearly in line with the European Central Bank's target of 2%, indicating a successful deceleration of price growth compared to previous years. Core inflation remains slightly above the overall figure (approximately 2.4% year-on-year) but also shows a downward trend. Confirmation of moderate inflation will bolster confidence that the ECB may pause after a series of interest rate hikes and maintain its current policy unchanged. Overall, stable price indicators in Europe alleviate pressure on the regulator and support expectations for a gradual return of inflation to the target benchmark, which is positive for European markets.
US Oil Inventories (EIA Report): Impact on the Commodity Market
At 18:30 Moscow time, the weekly EIA report on commercial oil inventories in the US will be released. The previous week saw a decline in inventories of about -1.8 million barrels (following a minor increase the week before), reflecting resilient fuel demand. The new figures will indicate whether this trend continues; analysts do not rule out further decreases in inventories in the range of 1-2 million barrels, although an unexpected inventory increase is also possible due to seasonal factors. For the oil market, this is one of the key indicators of supply-demand balance. If the report shows a significant reduction in inventories, oil prices may receive support. Conversely, an increase in reserves would intensify downward pressure on quotes, especially considering the recent market weakness – just the day before, WTI fell to $56 per barrel, reaching its lowest levels in months due to concerns over an oversupply at the beginning of 2026. Investors in the oil and gas sector will carefully analyze the EIA publication, as it has the potential to cause noticeable price volatility for oil and shares of resource companies.
Inflation in Russia: Slowdown Ahead of the Central Bank's Decision
At 19:00 Moscow time, fresh data on consumer inflation in Russia will be disclosed. For November, official inflation significantly slowed to approximately 6.6% year-on-year (down from 7.7% in October), reaching a minimum in over two years. This slowdown was even stronger than analysts' expectations and indicates a reduction in price pressure due to strict monetary policy and the strengthening of the ruble in the autumn. Weekly figures for the first weeks of December also suggest a continuation of this trend (for instance, at the end of November, the weekly price increase reduced to a mere 0.04%). This trend instills optimism that the Bank of Russia may initiate a cycle of rate cuts at its upcoming Board of Directors meeting on December 19. The current rate is 16.5% per annum, and the market's baseline prediction is a reduction of 0.5 percentage points (to 16.0%). However, a lot depends on the current inflation data: if the new report indicates an unexpected uptick in prices in early December, the Central Bank may prefer to wait. Investors will closely evaluate the published figures, as they directly impact the regulator's rhetoric and decisions, which, in turn, will affect the bond market and the banking sector.
Corporate Reports in the US: Focus on the Tech Sector and Consumer Market
The American stock market will receive a batch of corporate news – several companies from the S&P 500 index will report their earnings, setting the tone for their respective sectors. Some earnings reports will be released before the US market opens (around 14:00 Moscow time), while others will be published after the market closes later in the evening.
- Micron Technology (NASDAQ: MU): One of the largest semiconductor manufacturers will report for the first quarter of the 2026 financial year (release expected after market close). Analysts predict a sharp increase in results due to heightened demand for memory for artificial intelligence: the consensus suggests that Micron's earnings could reach ~$3.8 per share (up from $1.8 a year earlier), with a clear increase in revenue. Investors will pay special attention to management's forecasts regarding the memory market and chip prices – an optimistic outlook may drive not only Micron's stock but the entire tech sector upward.
- General Mills (NYSE: GIS): The food company from the consumer goods sector will present results for the second quarter of the 2026 fiscal year (before market opening). A decline in results is anticipated compared to the high base period of the previous year: the consensus forecast suggests a revenue decrease of about 8-9% year-on-year and a drop in adjusted earnings per share of about 25-30%. Increased competition and normalization of demand following the pandemic surge, as well as unfavorable currency rates, are putting pressure on General Mills' sales. Investors will be looking for signs of stabilizing margins and the effectiveness of cost-cutting measures in the report.
- Jabil Inc. (NYSE: JBL): A major contract manufacturing company (EMS contractor) will publish financial results for the first quarter of 2026. Jabil is part of the S&P 500 and serves tech giants, so its figures may act as a barometer for industrial demand. The market expects stable results amid rising orders in electronics and electric vehicles. Management's comments on supply chain status and demand from major clients (for instance, from the cloud technology and automotive segments) will be crucial for assessing the industrial sector's prospects.
- The Toro Company (NYSE: TTC): A manufacturer of lawn care and irrigation equipment will report for the fourth quarter of the 2025 financial year. Although Toro is less well-known to the general audience, its results are interesting in terms of the state of the construction materials and infrastructure market in the US. Analysts expect moderate revenue growth due to consistently high demand from utilities and sports facilities; however, investors will be keen on management's forecasts for the next year. Any signs of weakening demand for Toro's products may impact evaluations of companies in the industrial sector.
- Raymond James Financial (NYSE: RJF): A financial company (investment bank and broker) will publish operational metrics for November. The report will disclose data on commission income, client assets volumes, and other key metrics. These figures will provide insight into how recent fluctuations in the stock market have affected clients' investment activity. Strong results from Raymond James could indicate a favorable environment for brokerage houses and Wall Street banks at year-end, while weak results would suggest investor caution and a decrease in trading activity.
Europe and Asia: Pause in Earnings Season
In the European and Asian markets, there are no major corporate earnings reports expected on December 17. The earnings season for major indices in the region, such as Euro Stoxx 50 and Nikkei 225, has already concluded, so no corporate surprises are anticipated. Investors in these markets will focus primarily on external factors – macroeconomic statistics and news background – in the absence of fresh reports. Some individual companies may host investor days or publish operational metrics on this day, but the influence of such events will be limited to local effects. Overall, this Wednesday will proceed relatively calmly on the corporate front for Europe and Asia, with market participants shifting their attention to global trends and inflation data.
Corporate Events in Russia
The Russian corporate calendar for December 17 also lacks publications of financial reports from leading issuers – the quarterly reporting season has concluded. In the Moscow Exchange index, no major company is reporting on this day. However, one event of interest to shareholders is noteworthy: "Renaissance Insurance" is conducting a dividend cutoff. December 17 is the last day for entering the register of shareholders eligible to receive dividends for the first nine months of 2025. This means that investors holding the company's shares until the end of Wednesday's trading will be entitled to the announced dividend payments. Such corporate events typically do not significantly influence the market as a whole but are important for holders of specific securities. Overall, the macroeconomic data on inflation and external factors will shape the news background of the Russian market.
What Investors Should Focus On
- Morning CPI data for the UK (10:00 Moscow time) and the Eurozone (13:00 Moscow time) will set the tone for European markets and affect expectations regarding interest rate decisions by the Bank of England and ECB.
- EIA oil report (18:30 Moscow time) will be a key evening event for commodity markets: US inventory dynamics will directly reflect on oil prices and shares of oil and gas companies.
- US corporate reports (throughout the day) may trigger movements in specific sectors: strong results from tech companies (such as Micron) will support the Nasdaq, while weak reports from the consumer or financial sectors may negatively impact the broader market.
Investors are advised to closely monitor the publication of this data and reports throughout the day. Unexpected deviations from forecasts could amplify market volatility, but at the same time, create opportunities for adjusting investment strategies ahead of the upcoming new year.
