Economic Events and Corporate Reports — Friday, February 6, 2026 Nonfarm Payrolls USA, Reserve Bank of India interest rate, Russia GDP

Key Economic Events and Corporate Reports on Friday, February 6, 2026: U.S. Labor Market Data, India's Central Bank Rate Decision, Russia's GDP, Germany's Statistics, and Reports from Major Public Companies Worldwide.

This Friday, financial market attention from CIS investors will focus on significant macroeconomic publications and corporate reports. The day promises to be eventful, featuring decisions from the Central Bank of India, industrial production statistics from Europe, key labor market data from the U.S. (Nonfarm Payrolls), and blocks of reports from major corporations. Below, we will review the main events of February 6, 2026, their expected indicators, and potential market impacts. By the end of the day, investors will need to evaluate the publication results to adjust their strategies. This brief overview will help prepare for these events and understand what to expect in the markets.

EU: Potential Trade Tariffs Against the U.S.

Against the backdrop of ongoing trade tensions between the European Union and the U.S., investors are closely monitoring the situation regarding possible tariffs. The U.S. had previously considered imposing 10% tariffs on various goods from Europe (with a potential increase to 25%) due to disagreements over Greenland. However, in January, the U.S. unexpectedly withdrew this threat. The EU, in response, had prepared countermeasures, including special tariffs of 10%, 25%, and 30% on American goods (such as motorcycles, jeans, and meat), which could take effect as early as February 7, 2026. Following the U.S.'s softened stance, the EU postponed the introduction of these tariffs for six months. Nevertheless, the possibility of renewed tariff confrontations remains a risk factor. If rhetoric escalates again, tensions in the EU stock markets may emerge. So far, there are no announcements of new measures in the official plans for February 6, and it is likely that both sides will continue dialogue in line with the July trade agreement, which proposes a maximum tariff of 15% and a phased liberalization of trade. Investors should consider these geopolitical factors, even though no immediate actions may occur on that day.

India: Central Bank Rate Decision (07:30 MSK)

Early on Friday, the Reserve Bank of India (RBI) will announce its decision regarding the interest rate. This session of the Indian regulator attracts attention as the Indian economy shows strong growth and inflation stabilizes. Analysts predict that the RBI will likely maintain the key repo rate at the current level of 5.25%. It is important to recall that throughout 2025, the Indian central bank lowered the rate a total of 125 basis points, including the last reduction of 0.25% in December to 5.25%. Economists note that the easing cycle is likely complete – the regulator seems to prefer waiting and assessing the effects of prior stimulus measures. The decision will be announced at 10:00 Indian time (07:30 MSK) after a three-day meeting. Markets have priced in an RBI “pause”: maintaining the rate could support the rupee and Indian stocks, whereas an unexpected move (such as an additional cut) would come as a surprise. Investors with assets in Indian instruments should also monitor the regulator’s rhetoric concerning liquidity and inflation – the tone is expected to be neutral, focusing on maintaining stability until macroeconomic dynamics clarify.

Germany: Industrial Production for December (10:00 MSK)

At 10:00 MSK, Germany’s industrial production for December 2025 will be released. The previous month (November) showed an increase in output by +0.8% m/m, better than expected, thanks to a revival in the automotive and machinery sectors, although the energy sector struggled. However, economists expect a slight decline in production for December due to weakening external demand. The consensus forecast for the monthly dynamics of industrial output in Germany is about –0.3% m/m (following a +0.8% increase in November), although individual models predict a slight increase of around +0.3%. On a year-over-year basis, growth rates could also be close to zero or negative, considering the high base from last year and operational interruptions during holidays. For the euro market and European equities, this data serves as an indicator of the health of the EU’s largest economy. If the statistics are better than expected (for example, if growth is maintained due to high orders – in December, factory orders in Germany unexpectedly soared by +7.8% m/m), it may support the euro and positivity in European exchanges. Conversely, weak industrial production would heighten fears about an economic slowdown in the Eurozone.

U.S.: Nonfarm Payrolls for January and Unemployment Rate (16:30 MSK)

The main macro event of the day is the release of the U.S. labor market report for January 2026. Traditionally, the January NFP (Nonfarm Payrolls) release attracts heightened attention from the Fed and investors, and this time it is under extra scrutiny due to expected data revisions and a trend towards hiring slowdown. According to the consensus forecast, employment in January rose by approximately +70,000 jobs – slightly above the modest December result (~50,000), but significantly below the average growth rates of the previous year. Major banks, like BofA, are even more cautious, projecting about +45,000 new jobs, citing weakness in the labor market and potential statistical revisions. The unemployment rate is estimated to remain at 4.4%, the same as the previous month. It is worth noting that in December, unemployment fell to 4.4% from 4.5% in November, despite a modest employment increase of only 50,000. Analysts will closely analyze the report’s details: sectors that contributed to job growth or contraction, dynamics of average hourly pay, and revisions of previous months. Even with a moderate NFP increase of around 50-70,000, this number may be seen as a weak sign of a cooling U.S. economy. For the markets, this could mean a reassessment of Fed policy expectations – a weak report would increase the likelihood of a softer Fed rhetoric and exert pressure on the dollar, whereas an unexpectedly strong hiring surge would be a surprise capable of driving up bond yields and strengthening the dollar. The baseline scenario is a moderate employment increase with stable unemployment around 4.4%, confirming a picture of a cooling but still relatively tight U.S. labor market.

U.S.: University of Michigan Consumer Sentiment Index and Inflation Expectations (18:00 MSK)

Closer to evening at 18:00 MSK, preliminary data for the University of Michigan consumer sentiment index for February will be released. In the previous month (January), American consumers felt slightly more optimistic: the final index rose to 56.4 points from 52.9 in December, reaching a five-month high. For February, sentiment may slightly correct downward – the consensus forecast is around 55 points amid persistent inflation and uncertainty. Besides the sentiment index itself, survey data on Americans' inflation expectations are very significant. In the January report, short-term (annual) inflation expectations noticeably dropped to 4.0% – the lowest level since January 2025, although still above pre-pandemic levels. Long-term (five-year ahead) expectations, on the contrary, slightly increased to 3.3% from 3.2%, remaining above the range of 2.8-3.2% seen in 2024. Such indicators suggest consumers expect a slowdown in inflation over the next year but are unsure about returning to target levels in the long term. If the February survey shows further decreases in inflation expectations while maintaining stability in the sentiment index, it will be a positive signal for the Fed (indicating strengthened “anchors” of expectations) and for the markets, as it reduces the necessity for aggressive central bank actions. Conversely, an unexpected surge in inflation expectations could concern market participants. Investors will closely monitor these data, as they influence interest sentiment and consumer activity.

Russia: GDP for Q4 2025 and Industrial Production (19:00 MSK)

In the evening, Rosstat will release an important block of macroeconomic statistics for the Russian economy. First, a preliminary estimate of GDP for Q4 2025 will be published. According to officials, the Russian economy grew by approximately 1% in 2025, slowing after a vigorous recovery in the previous two years. For the first nine months of 2025, total GDP growth stood at 1.0% y/y, while in Q3, 0.6% y/y growth was recorded. Thus, in the fourth quarter, growth rates are expected to be close to zero – likely between 0% and +0.5% y/y – corresponding to an overall picture of stagnation due to external constraints and the exhaustion of post-COVID recovery effects. Investors will gauge how closely actual figures match these estimates. Second, data on industrial production for December will be published. By the end of the year, the dynamic of Russian industry showed signs of deterioration: in November, output fell by 0.7% y/y after a 3.1% increase in October, which was worse than forecasts (expecting +1.2%). Preliminary estimates for December are also muted, with the consensus predicting a decline of around 1% y/y. If actual figures show a drop close to these values, it will confirm the trend of industrial slowdown towards the year-end. Separately, markets are monitoring the situation in the oil and gas sector and manufacturing: preliminary data suggest that in 2025, output in the manufacturing sector increased by approximately +2.8%, while extraction may have been declining. The reaction of the Russian equity market and the ruble to the statistics may be limited, as the figures are close to expectations. However, signals regarding GDP growth resilience, albeit at a low level (~1%), and the industry’s readiness for further challenges are important for domestic policy. Investors should consider that macro factors in Russia are currently secondary compared to geopolitical ones, but unexpected statistical deviations could impact the ruble's exchange rate and local stock quotes in the short term.

Corporate Reports on February 6, 2026

In addition to macroeconomics, the corporate earnings season continues on February 6 across various regions. On this day, companies from the U.S., several European countries, and Asia will present their financial results. Below, we have compiled key issuers that are scheduled to report, indicating their ticker symbols, sectors, release times, and primary market expectations.

U.S. (S&P 500 and others): Key Reports

* Times are listed in Moscow time (MSK). In the U.S., most reports on February 6 are released before the stock market opens (BMO – before market open), as it is a Friday.

Among the highlighted American issuers, investors should particularly pay attention to the Biogen report – the pharmaceutical company will present its Q4 2025 and full-year results. A nearly 10% decline in revenue (to ~$2.2 billion) and earnings per share down to ~$1.60 are expected amid falling sales of existing MS drugs and competition in the market. Management's comments regarding new drugs and forecasts for 2026 will be central to the focus. Another interesting release is by Centene: the insurer will likely show a sharp revenue increase (+18% y/y) due to expanding Medicaid programs, but due to one-time expenses, a net loss may occur for the quarter. This could impact the company's stocks, although operating trends are positive. Under Armour will conclude the week with its report: investors hope to see stabilization in athletic apparel sales after a challenging year. The consensus for Under Armour is a small loss (~$0.02 per share) with revenues around $1.55 billion, and any deviation could significantly affect the stock due to the volatility of the retail sector. Reports from AutoNation (sales dynamics and dealer business margin expected to remain steady), Cboe (growing revenues from derivatives trading, consensus profit of $2.90/share), and several others will also be published. Overall, Friday in the U.S. is less busy with names than earlier in the week, but data from Biogen, Under Armour, and others will help assess the health of various sectors – from biotech to consumer sectors.

Europe (Euro Stoxx 50): Corporate Reports Situation

In Europe, February 6 marks a relatively quiet day concerning corporate reporting from major companies. Investor focus is more on macro statistics (as discussed above) and the results already published reports from several giants (such as Shell and BNP Paribas, which reported on February 5). No company in the Euro Stoxx 50 index is scheduled to publish a financial report specifically on February 6. This is explained by the calendar of the European reporting season: most leading corporations in the Eurozone disclose results for Q4 later in February or early March. Nonetheless, certain second-tier enterprises will present data. For example, Norwegian telecommunications operator Telenor ASA will release its report for Q4 2025 in the morning, and Swedish real estate companies Balder and Hoist Finance will report during the day. Although these firms do not belong to the Euro Stoxx 50, their results may shed light on the state of the respective sectors in Europe – telecommunications and real estate. Overall, the European equity market on February 6 will be oriented more towards external signals (from the U.S. and Asia) and the dynamics of economic indicators, while volatility from corporate news is expected to be low. Investors in European equities should prepare for the main influx of annual reports closer to the middle of the month, but also keep a close eye on any corporate announcements or alerts in the meantime.

Asia (Nikkei 225): Key Japanese Companies

In the Asian region, the week will conclude with the release of reports from several major companies, primarily from Japan. Toyota Motor – the world’s largest automaker – will present its financial results for Q3 of the fiscal year 2026 (October-December 2025) on February 6. This report is crucial for assessing the state of the auto industry: increased profit due to yen depreciation and high sales of hybrid models are expected, although analysts will monitor the impact of component shortages and strategies in the electric vehicle sector. On the same day, according to Japanese media, other Nikkei heavyweights, such as the financial conglomerate Mitsubishi UFJ Financial Group (MUFG) and technology giant Sony Group, will conclude the publication of weekly report blocks (their results may, however, be released earlier in the day or after the market closes on February 5). The Japanese equity market has already priced in expectations of positive results: many corporations have raised forecasts against the backdrop of yen weakening and domestic demand. If the reports meet expectations (Toyota's consensus predicts an increase in operating profit and confirmation of its annual sales forecast), the stocks of these companies and the Nikkei 225 index will receive support. Investors in Asian assets are also advised to pay attention to telecommunications – for instance, Advanced Info Service (AIS) from Thailand will publish quarterly results early in the morning, which could set the tone for trading in Southeast Asia. Overall, the Asian markets on February 6 will be influenced by not only local reports but also the overall sentiment formed following the nighttime data from the U.S. and Europe.

Russia (MOEX): Corporate Calendar

On the Russian market, no financial reporting from major issuers is expected on February 6. Annual and quarterly results from companies comprising the Moscow Exchange Index (MOEX) typically come later – usually in March-April (annual IFRS) or after the quarter's conclusion. Therefore, neither Sberbank, Gazprom, nor other "blue chips" will present new data on this day. However, investors should bear in mind that some companies might release operational production figures for January or provide forecasts for the year during industry events. Additionally, the corporate backdrop in Russia on February 6 will be shaped by external news related to oil and metal prices, as well as global risk appetite trends. Thus, it can be said that this day for the Russian equity market will be marked by macroeconomic statistics (GDP and industrial production, as discussed above) and external signals, rather than domestic corporate drivers. Investors on MOEX should utilize the relative calm in the reporting calendar to prepare for the start of the Russian financial reporting season in the spring and evaluate the fundamental ratios of Russian equities ahead of forthcoming releases.

Conclusion: What Investors Should Focus On

February 6, 2026, brings together several themes capable of influencing market sentiment. Investors should begin the day by assessing the outcomes of the Central Bank of India's decision and data from Europe, then concentrate on the "super Friday" in the U.S. – the Nonfarm Payrolls report, which will set the tone for trading in the afternoon. In the evening, significant benchmarks from Russia will emerge, although their impact will be more localized. The corporate block is less busy than in previous days of the week, but reports from companies like Biogen, Under Armour, and Toyota will serve as indicators of their respective sectors' health. By evenly distributing attention between macro and microeconomic factors, investors can react to the emerging information in a timely manner. The main advice is to watch for discrepancies between actual data and forecasts: surprises (whether an unexpected spike in U.S. unemployment, a sharp change in inflation expectations, or unexpectedly strong/weak corporate reports) typically elicit the most vigorous market reactions. May this Friday be productive for you – by preparing thoroughly, you will meet it fully armed and capable of making informed investment decisions.