Detailed Overview of Economic Events and Corporate Reports on January 8, 2026. German Industrial Orders, Eurozone Producer Price Index (PPI), Consumer Confidence Indicators, Weekly Jobless Claims in the US, Trade Balance and Gas Inventory Data, as well as Reports from Major Public Companies in the US, Europe, Asia, and Russia.
Thursday presents a moderately busy agenda for global markets. Focus in Europe will be on industry and pricing statistics: fresh data on factory orders in Germany and the PPI for the Eurozone will shed light on the economic state of the region and the dynamics of inflationary pressure, which are crucial for the prospects of ECB policy. In the US, the spotlight is on the labor market and the trade balance: weekly jobless claims remain a key indicator of economic resilience while the trade balance report is also due. Investors will assess consumer inflation expectations from the New York Fed, looking for confirmations of inflation stabilizing at moderate levels. The energy sector is keenly awaiting the EIA report on natural gas inventory amid the winter season. On the corporate side, the first earnings reports of the new year will be released: several American companies from the consumer goods and technology sectors will present quarterly results, while key retailers in Europe will report on Christmas sales. It is important for investors to consider these disparate signals holistically to adjust expectations regarding rates, currency levels, and sentiments towards risk assets.
Macroeconomic Calendar (MSK)
- 10:00 — Germany: industrial orders (November).
- 13:00 — Eurozone: Producer Price Index (PPI) (November).
- 13:00 — Eurozone: consumer confidence index (December).
- 13:00 — Eurozone: consumer inflation expectations (December).
- 16:30 — USA: initial jobless claims (weekly).
- 16:30 — USA: trade balance (October).
- 18:30 — USA: natural gas stocks (EIA) (weekly).
- 19:00 — USA: consumer inflation expectations (NY Fed, 1-year) (December).
Europe: Orders in Germany, Producer Prices, and Consumer Confidence
- Germany (Factory Orders): The indicator for new industrial orders in November will show whether the recovery momentum is sustained in the leading economy of Europe. In the previous month, there was an increase in orders, partly due to large contracts, which bolstered hopes for the stabilization of the manufacturing sector. Weak November data could confirm a lingering lack of demand for goods and amplify expectations for stimulus, while an unexpected rise in orders would be a positive signal for the German economy and the entire Eurozone.
- Eurozone (PPI): The Producer Price Index for November is likely to indicate a continued trend of easing price pressure at the entry of the production cycle. A slowdown or decline in PPI on a year-over-year basis reflects a drop in energy and raw material prices compared to last year, easing the burden on businesses. For the ECB, PPI dynamics serve as a leading indicator for future consumer inflation: consistently low PPI would bolster confidence that inflation will decline and strengthen arguments for maintaining a pause in rate hikes.
- Consumer Confidence and Expectations: Simultaneously released household sentiment indexes in the Eurozone will provide insights into how Europeans are closing out the year. The consumer confidence index for December is expected to remain in negative territory but improve modestly amid slowing inflation and rising wages. An important component will be the measure of inflation expectations among the populace: if expectations for the coming year decrease or hold near recent levels, it will confirm that the ECB's efforts to instill confidence in price stability are effective. Improved consumer sentiment could bolster retail and service sector prospects in the EU, while pessimism might restrain the recovery of domestic demand.
USA: Labor Market, Trade Balance, and Inflation Expectations
- Jobless Claims: Weekly initial jobless claims in the US are traditionally viewed as a timely barometer of the labor market. In recent weeks, the number of claims has remained at historically low levels (~200,000), signaling a persistent inclination among companies to retain employees despite high Fed rates. Should the report for the first week of January show fewer than 220,000 claims again, it would reaffirm market resilience and potentially strengthen hawkish sentiments—the strong job market allows the Fed to maintain a tight policy longer. Conversely, an increase in claims above expectations would be the first indication of hiring weakness and could bolster discussions of an impending shift in monetary policy.
- US Trade Balance: The external trade data for October will reveal the trade balance deficit at the beginning of Q4. In September, the US trade deficit in goods and services narrowed to ~$53 billion due to increased energy exports and decreased imports. However, in October analysts do not rule out a renewed widening of the deficit amid recovering domestic demand and rising oil prices, which may increase the cost of imported fuel. A significant deviation of the actual deficit from forecasts could impact the dollar's exchange rate and estimates of external trade's contribution to US GDP for the quarter. Investors will also be attentive to export trends: weakening global demand for US goods or a strengthening dollar could affect the revenues of industrial corporations.
- Inflation Expectations (NY Fed): The New York Fed's report on consumer expectations will serve as an important supplement to the inflation picture. In November, the median expected inflation rate one year ahead held around 3.2%, significantly down year-over-year but still above the target of 2%. The December survey will reveal how confident American households are in slowing price growth: any further drop in expectations (e.g., down to ~3.0%) would be a reassuring signal for the Fed, indicating a strengthening trust in long-term price stability. However, if inflation expectations remain stubbornly above 3% or, worse, begin to rise, this would alarm markets as it may compel the Fed to maintain high rates for a longer time. The behavior of consumer expectations directly influences bond yields and, through them, assessments of technology stocks sensitive to changes in the discount rate.
Energy Markets: EIA Report on Gas Inventories
- Natural Gas Stocks (EIA): The weekly report from the US Department of Energy on gas inventories gains special significance amid the winter period. Previous reports indicated that gas stocks in the US remain slightly above the multi-year average due to a mild start to winter and record production. The new release will reflect the volume of gas withdrawn from storage in the last week of December: moderate decreases in inventories due to warm weather may continue to exert pressure on natural gas prices, while an unexpected surge in consumption (e.g., due to colder weather) could reverse prices upward. European traders are also monitoring these data, considering the global integration of gas markets through LNG: stable US inventories indirectly indicate the reliability of liquefied natural gas exports, which is critical for European countries experiencing winter. Ultimately, the balance of supply and demand in the gas market on both sides of the Atlantic will influence the shares of energy companies and the currencies of energy-exporting countries.
Corporate Earnings: Before Market Open (BMO, US and Asia)
- Helen of Troy (HELE): The consumer goods manufacturer (brands OXO, Braun, Vicks, among others) will publish results for Q3 of the 2026 financial year before the open. Investor focus will be on sales dynamics in the household goods and health segments amid the holiday season, as well as the recovery of margins. The company has previously faced rising costs and supply chain issues, so the market will be looking for signals of improved profitability and revised management forecasts for the year.
- Neogen Corporation (NEOG): The biotech company specializing in food safety testing and veterinary diagnostics will report prior to market open. This will be the report for Q2 of the 2026 financial year, marking the first full quarter after the integration of recently acquired divisions. Investors will assess revenue growth, synergies from the merger with 3M's food safety business, and the status of operational margins. Any management comments regarding demand from the agricultural sector and food producers will be crucial for growth forecasts.
- The Simply Good Foods Company (SMPL): The manufacturer of healthy food products and snacks (brands Atkins, Quest) will present financial results for Q1 of the 2026 financial year. The holiday period traditionally supports snack demand, and analysts expect solid sales growth. The key issue will be margin dynamics: investors will monitor whether the company has managed to contain ingredient and logistics costs to maintain profitability amidst raw material inflation. The company's outlook for the remainder of the year concerning demand trends for protein bars and low-carb products will also affect perceptions of the health food sector's prospects.
- TD SYNNEX (SNX): One of the largest distributors of IT equipment and solutions will report for Q4 of the 2025 financial year (as well as for the entire FY2025) before the market opens in New York. The results from TD SYNNEX will provide insight into the state of the global technology market and corporate IT spending as the year comes to a close. Key areas of interest include revenue volume and orders for electronics, computer equipment, and software amidst ambiguous demand: previously, some competitors indicated a weakening in orders from small businesses, but sustained demand for cloud solutions and corporate infrastructure upgrades could support sales. Investors will also analyze the company's forecasts for next year and comments on the impact of macro factors (high rates, geopolitical issues) on the IT sector.
Corporate Earnings: After Market Close (AMC, US)
- WD-40 Company (WDFC): The iconic manufacturer of lubricants and household chemicals will announce results for Q1 of the 2026 financial year after the US market closes. Shareholders are interested in whether the company has been able to increase sales volumes of its flagship WD-40 aerosol and related products in key markets (US, Europe, Asia) amidst economic uncertainty. In the previous quarter, WD-40 showed double-digit revenue growth in the Asian region, and continuing this trend would be a positive signal. Also in focus will be gross margin, considering the volatility of chemical raw material and packaging prices: an improvement in margin would indicate effective pricing strategies and cost-reduction measures. Management forecasts for the remaining financial year regarding demand from industrial and household consumers will set the tone for the company's shares.
Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX
- Euro Stoxx 50: On January 8, there are virtually no major earnings report publications from the pan-European index; macroeconomic data (German orders, Eurozone price statistics) and the response of currency and commodity markets will dictate trading tone in Europe. Additionally, the trading updates from major UK retailers such as Marks & Spencer (MKS) and Tesco (TSCO) will be in the spotlight. A successful holiday season for UK retail could support positive sentiment in the European consumer market, while weak results would heighten concerns over household spending cutbacks.
- Nikkei 225: In Japan, the corporate calendar for January 8 is light on events, as the main reporting season will start later in January. Trading on the Tokyo Stock Exchange will primarily rely on external signals—the dynamics of Wall Street from the previous day, changes in the yen's exchange rate, and investor sentiment regarding the technology sector. The absence of domestic drivers means that the Nikkei 225 is likely to move in line with global risk appetite trends. Asian markets in general will continue to monitor the prospects of monetary policy from the US and China, which dictate capital flows in the region.
- MOEX: The Russian market on this Thursday remains under low activity conditions due to the New Year holidays (official holidays in Russia are extended until January 8 inclusive). Significant corporate reporting is not scheduled on the Moscow Exchange, so trading sentiment will be influenced by external factors—oil and gas prices, dynamics of global stock indices, and forex currency rates. Investors in the Russian market will focus on how global data and corporate reports could affect risk appetite and will prepare for a revival in trading next week when the holidays conclude.
Day’s Summary: What Investors Should Pay Attention To
- 1) European Indicators: Morning data from Germany and the Eurozone will set the tone for the EU session. Strong orders from German enterprises and low PPI could support the euro and industrial sector stocks, boosting hopes for a soft landing for the economy. However, weak statistics could heighten expectations for stimulus policy, which could simultaneously weaken the euro and increase interest in exporters on the exchange.
- 2) Signals from the US: The block of daily publications in the US (labor market, trade balance, inflation expectations) will be a key driver for dollar assets in the latter half of the day. Special attention will be on the number of jobless claims: new confirmation of labor market strength could provoke a rise in Treasury yields and pressure technology stocks. If the data indicate an economic cooling (rising unemployment, increasing trade deficit, heightened inflation expectations), investors may shift to a cautious mode, favoring bonds and defensive sectors.
- 3) Corporate Reports and Forecasts: The first earnings reports for companies in 2026 will provide local ideas for movements in specific stocks. Reports from Helen of Troy and other consumer companies will clarify the state of consumer demand in key markets, while TD SYNNEX's results will highlight trends in corporate IT spending. In Europe, the reports from retail chains (M&S, Tesco) will serve as indicators of consumer behavior during the holiday period. Successful corporate releases could boost investor sentiment in the respective sectors, while disappointments may limit growth in stock indices.
- 4) Energy Factor: Data on gas inventories in the US and any changes in energy prices will remain in focus, particularly for investors in European and Russian markets. A drop in gas or oil prices due to a mild winter and high inventories will support the transportation and chemical sectors but may exert downward pressure on oil and gas company stocks. Conversely, a sudden price spike in energy resources will immediately reflect on inflation expectations and the profitability of energy-intensive enterprises. Thus, investors should take energy markets into account when balancing their portfolios on this day.
