Economic Events and Corporate Reports Monday November 17, 2025 — Japan GDP, Canada CPI, U.S. Budget

Japan's GDP for Q3 2025 (Preliminary Data) – In the early hours of Monday (02:50 MSK), the GDP estimate for Japan for the third quarter will be released. Economic dynamics are expected to slow down: preliminary forecasts indicate a possible decline in GDP (around -2.5% year-on-year) following a robust growth in Q2. In Q2, Japan's economy unexpectedly accelerated (approximately +2.2% y/y annualized), thanks to resilient domestic consumption and export growth, but by the end of summer, the effect of these factors may have weakened. Preliminary statistics for Q3 will show how declining external demand and inflationary pressures on consumers have impacted Japan's GDP. These data could influence the yen's exchange rates and the dynamics of Asian markets early in the morning, setting the tone for the start of the week.

Canada's Consumer Price Index (CPI) for October 2025 – The inflation statistics for Canada will be released in the afternoon (16:30 MSK). Analysts expect a slight easing of inflationary pressures: the consensus forecast suggests a slowdown in annual price growth to ~2.1% from 2.4% in September. The decrease in gasoline prices in October (~-5% month-on-month) should offset the ongoing increase in food prices (around +3.8% y/y) and other goods. If the actual figures confirm a cooling of inflation, it would indicate movement towards the Bank of Canada's target range (1-3%). Investors in the region will assess whether this slowdown is sufficient for the regulator to maintain a soft stance after the recent rate cut cycle, or whether price pressures remain persistent. The CPI publication could influence the Canadian dollar's exchange rates and expectations regarding the future policy of the Bank of Canada.

U.S. Federal Budget for October 2025 – Later in the evening (22:00 MSK), the U.S. Treasury will present its report on the federal budget for October – the first month of the new fiscal year 2026. Investors will pay attention to the size of the budget deficit and revenues/expenditures at the beginning of the year, especially after the deficit for the previous fiscal year 2025 reached ~ $1.8 trillion (about 5.9% of U.S. GDP). In October, a budget deficit is traditionally recorded in the U.S., and current data is expected to show a substantial excess of expenditures over revenues, particularly since interest payments on debt and obligations for social programs remain high. According to the Congressional Budget Office (CBO), the deficit in October 2024 was $219 billion, and the market will compare the new figures with last year’s. For investors, signals about the state of public finances are important: a growing deficit may strengthen discussions about debt burdens (U.S. public debt is already close to 100% of GDP) and potentially affect government bond yields and the overall stability of economic policy. The budget publication late in the evening could set the direction for the U.S. dollar's movements and sentiment in the bond market.

XPeng (XPEV) – The Chinese electric vehicle manufacturer will report its Q3 results before the U.S. trading begins. The company has already announced record deliveries of 116,007 electric vehicles for the quarter (+149% y/y), marking the fourth consecutive quarterly maximum. Investors are eager to see how this impressive sales growth has impacted XPeng's financial metrics, especially given the pressure on margins in the industry. The management conference call is scheduled for 8:00 AM Eastern Time (4:00 PM MSK) on the same day. XPeng's results will provide insights into the dynamics of the Chinese EV market and whether the company can maintain high growth rates in the face of competition and costs associated with developing autonomous driving technologies.

ZEEKR (ZK) – Another representative of the Chinese automotive industry, the premium electric vehicle brand ZEEKR (Geely Group) will release its Q3 financial results on Monday morning. The publication is expected before the U.S. trading opens. ZEEKR continues to ramp up volume: in the third quarter, the company delivered about 140,000 electric vehicles to customers, increasing sales by approximately 12.5% year-on-year. CIS investors will evaluate the results of this company for the first time following its recent IPO. The market anticipates figures for revenue (forecast around $4.7 billion) and losses per share (expected around -$0.18) for the quarter. ZEEKR's report will help understand the situation in the premium electric vehicle segment in China and consumer sentiment within the country.

JinkoSolar (JKS) – The largest solar panel manufacturer from China will present its quarterly report before the session begins. Analysts anticipate a loss for Q3, reflecting industry challenges: expectations for EPS are approximately -$2.5, significantly worse than last year's profit. In the last reporting period, JinkoSolar disappointed the markets by not meeting profit forecasts, and investors will now be seeking signs of a recovery in demand for solar panels and improved margins. Amid fluctuations in silicon prices and fierce competition in the global renewable energy market, JinkoSolar's results will signal the overall health of the solar energy sector.

Full Truck Alliance (YMM) – The Chinese online trucking service (known as the "Uber for trucks") will report on Monday before trading opens. Moderate quarterly results are expected: the consensus profit forecast is around $0.13 per share, slightly below last year's level. Investors will be keen to learn how the slowdown in China's economic growth has affected demand for trucking services and platform utilization for Full Truck Alliance. In previous quarters, the company consistently exceeded analysts' expectations, so the market will watch to see if it can maintain this momentum. YMM's metrics will serve as a barometer for activity in China's logistics and e-commerce sector.

H World Group (HTHT) – The largest hotel chain in China (formerly Huazhu Group) will release its financial results early in the morning. The company, which owns hotel brands in China and abroad, concluded the third quarter amid a recovery in tourism activity. Analysts expect earnings of around $0.60 per share, slightly above last year's figure. If the actual figures match the forecast, annual earnings growth will be around +3–4%, reflecting a gradual improvement in hotel occupancy post-pandemic. Investors will assess management's commentary on domestic tourism in China and H World Group's international expansion to gauge prospects for the hospitality sector in the region.

Aramark (ARMK) – The American corporation providing catering, food, and uniforms for companies will present its financial report for Q4 of the 2025 fiscal year (ended September 30). The publication is expected before the New York trading opens. According to forecasts, Aramark will showcase significant earnings growth: consensus EPS is around $0.65, which is ~20% higher than the previous year's quarter. The company has exceeded analysts' expectations in recent quarters amidst a recovery in the corporate services sector and uniforms leasing. Investors will focus on business profitability and comments about demand from enterprises, schools, and sports organizations – Aramark's key clients. Strong results could positively influence the company's stock and set the tone for the business services sector.

Brady Corporation (BRC) – The manufacturer of identification and industrial marking solutions will report for Q1 of the 2026 fiscal year before the market opens. Brady operates in the U.S. and Europe, supplying labels, safety signs, and marking equipment for factories. Given industrial growth and companies' needs for safety management systems, stable results are expected: analysts predict earnings around $1.17–1.18 per share, comparable to last year's levels. Investors will be attentive to any changes in demand from the industry – Brady's rising orders could indicate an expansion of capital expenditures by companies, while weak sales would signal client caution. The company usually holds a conference call (scheduled for 18:30 MSK today), where it might share forecasts for upcoming quarters.

Freightos (CRGO) – A young international online freight booking platform (of Israeli origin) will report in the morning. Freightos's business is suffering from declining container shipping rates and overall volatility in global trade. The company is expected to continue reporting losses (around -$0.08 per share) amid declining revenue. Last year, Freightos did not meet market expectations, as demand for logistics IT services declined. The Q3 report will show whether Freightos managed to increase transactions on its platform and reduce losses amidst the stabilization of global supply chains. Investors in logistics technology will seek signs of the company moving towards profitability.

Arbe Robotics (ARBE) – The Israeli radar systems developer for autonomous vehicles and robotics will publish its Q3 results before trading begins. The startup nature of the business means the company is currently unprofitable, though revenues are growing as new contracts in the automotive sector are signed. A quarterly loss per share is expected to be around -$0.11, slightly better than last year's loss. Investors will evaluate the pace of Arbe's partnerships with automakers and progress in producing its advanced radar chip. Any positive news (such as increased orders from auto manufacturers or improved forecasts) may trigger heightened volatility in ARBE's shares, given its small capitalization and interest in the autonomous transport topic.

Codere Online (CDRO) – The subsidiary of a Spanish gaming operator, engaged in online betting and casinos, plans to release financial results before the U.S. markets open (press release scheduled before 08:30 ET). Codere Online is actively developing in Spain and Latin America. The market expects to see growth in revenue from online betting and games, particularly following the summer sports season. In the previous quarter, the company recorded a moderate revenue increase (~+1% y/y) and improved EBITDA, making it essential now to understand if it successfully expanded its customer base and turnover in online casinos. CIS investors may be interested in the prospects of the online gambling business in mature European and emerging Latin American markets as reflected in Codere Online's results.

Gladstone Capital (GLAD) – The U.S.-based investment company (Business Development Company, BDC) will publish its financial results after trading ends in New York. Gladstone Capital invests in debt instruments of small and mid-sized businesses, paying stable dividends (yield around 9%). The Q4 report for the 2025 fiscal year will demonstrate how rising interest rates have affected interest income and the quality of the credit portfolio. Analysts forecast earnings around $0.51 per share. Investors will look for signs of resilience: a low default rate among borrowers and coverage of dividends by profits would be a positive signal. GLAD's results are significant concerning the entire BDC sector and high-yield bonds, as they reflect the state of small and medium businesses in the U.S. amidst expensive financing conditions.

XP Inc. (XP) – The largest Brazilian online broker and investment platform will report late Monday evening (in Brazil and the U.S. markets will already be closed). Expected Q3 data will focus on the growth of client assets and commission revenues. Amid high volatility in Brazil’s financial markets, XP may have attracted new investors seeking alternatives to traditional banks. The consensus profit forecast is around $0.50–0.55 per share. Last week, XP Inc. surprised investors with news of record quarterly profit (for example, in Q2 2025, the company reported a record net profit), which supported its stock. Now the market expects confirmation of this positive trend. Strong results from XP could serve as an indicator of the development of the financial sector in Latin America and public interest in investments.

LifeMD (LFMD) – An American telehealth company with a small market capitalization will release its financial report after trading closes. LifeMD provides online doctor consultation services and prescription medication sales via the internet. In recent quarters, the company has demonstrated double-digit revenue growth, expanding its medical subscription base. However, the business is still unprofitable, and investors are awaiting a reduction in quarterly losses as it scales up. The Q3 2025 report will show whether LifeMD has approached its breakeven point: important metrics include profitability, average spend per customer, and user retention rate. The telehealth sector is experiencing significant growth, so any news (for instance, about new partnerships or slowed growth) could substantially affect LFMD's shares.

HP Inc. (HPQ) – One of the world's largest manufacturers of PCs and printers will report after the main session concludes. HP will share results for Q4 of the 2025 fiscal year (August–October) amid challenging industry conditions: demand for personal computers is unstable following the pandemic boom, while competition is intensifying. Analysts expect a year-on-year decrease in revenue, but investors will focus on margins and management's guidance for the next year. Key discussion topics will include the dynamics of laptop sales for business, the recovery of demand for printers, and the effect of cost-cutting programs HP is implementing to maintain profit. Last week, HPQ shares came under pressure after Berkshire Hathaway announced a reduction in its stake in the company, but a strong quarterly report could restore investor confidence. A conference call with CEO Enrique Lores is scheduled for after the report release, where details about strategic initiatives and the company's expectations for the 2026 fiscal year will be discussed.

3V Systems (III) – The company 3V Systems (ticker III) is also among the reporters. (Note: Data on this company is limited.) Financial results are expected to be published on the evening of November 17. Judging by the ticker, the company is part of an international index and may represent the technology or investment sector. Investors will review the 3V Systems report to understand its business dynamics. Although it is a less well-known name compared to others on the list, 3V Systems' results may be of interest regarding the overall situation in the relevant industry. Analysis of the report will focus on key financial metrics and management forecasts to assess the company's prospects.

Trip.com Group (TCOM) – The leading Chinese online travel booking agency (owner of platforms Trip.com, Ctrip, Skyscanner) will report after the trading day in the U.S. (evening in New York, corresponding to the morning of November 18 in Shanghai). Analysts forecast a successful third quarter for Trip.com, thanks to an active tourist season: expected earnings are around $1.0–1.1 per share. Domestic tourism in China has continued to grow rapidly, while international travel is recovering following the lifting of COVID restrictions. Investors will be interested in how much revenue from hotel and flight bookings has increased and the outlook for the fourth quarter in light of the "Golden Week" and holidays. In the previous quarter, Trip.com significantly surpassed expectations, resulting in a nearly +15% increase in its stock the next day. If current results exceed expectations and are accompanied by a positive forecast, it will affirm the strength of the online tourism industry and the purchasing power of Chinese consumers.

Gladstone Capital (GLAD) – as mentioned earlier, the report is expected after market close.

Danaos Corporation (DAC) – A global leader in container chartering will present financial results after trading. The Greek company Danaos owns a large fleet of container ships, leasing them long-term to ocean carriers. Thanks to high charter rates in recent years, Danaos has shown record profits, and although rates are normalizing, it is expected to report significant revenue and solid cash flow for Q3 2025. The consensus profit forecast is in the $7–7.5 per share range, indicating double-digit growth year-over-year. Investors will pay attention to updates on the company's debt, capital distribution plans (dividends, share buybacks), and commentary regarding demand for container shipping. Since Danaos has scheduled a conference call for the morning of November 18, key details will only become clear the following day, but the fundamental figures of the report will already provide insight into the state of the global shipping industry.