Investor Calendar July 13-17, 2026: U.S. CPI, China GDP, and Earnings Season

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

The week of July 13 to 17, 2026, will be pivotal for global markets in mid-summer. Investors across the US, Europe, Asia, and Russia will focus on several factors, including the official start of the US earnings season, June’s Consumer Price Index (CPI) and Producer Price Index (PPI) in the US, China’s GDP for the second quarter, data on retail sales, industry, and the housing market, the Bank of Canada's interest rate decision, the monthly OPEC report on the oil market, and possible progress on the 21st sanctions package from the EU against Russia.

The week’s main intrigue is whether the market can maintain its risk appetite after a strong first half of the year and whether the earnings reports from major public companies will confirm 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 watch ASML, BP, Ericsson, Rio Tinto, Nordea, ABB, Atlas Copco, Volvo, Sandvik, and Assa Abloy. In Asia, key indicators will include TSMC, Wipro, Tech Mahindra, and macro data from China. For the Russian market, MOEX will focus on operational results from Aeroflot, X5, and Henderson, as well as dividend announcements from Sberbank and other issuers.

Key Themes of the Week for Investors

Economic events throughout the week will create a dense network of signals for assessing monetary policy, corporate earnings, and global demand. Investors should focus on several key areas:

• US Inflation: CPI on Tuesday and PPI on Wednesday will indicate how persistent price pressures remain following volatility in commodity markets.
• Fed and Waller’s Rhetoric: Speeches in the House and Senate may affect expectations for rates, Treasury yields, and the dollar.
• Corporate Earnings: US banks, technology companies, equipment manufacturers, pharmaceuticals, and the consumer sector will reveal the actual state of margins.
• Oil Market: The OPEC report, along with API and EIA inventories, will serve as benchmarks for Brent, WTI, Urals, oil and gas companies, and currencies of commodity-exporting countries.
• China and Asia: Trade and GDP data from China are crucial for Nikkei 225, industrial metals, semiconductors, and European exporters.
• Europe and Sanctions: The possible adoption of the EU's 21st sanctions package against Russia could increase the geopolitical risk premium in energy, logistics, and the financial sector.

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

Monday will open the week more with geopolitics and commodity signals than macro statistics. Discussion and potential progress on the 21st sanctions package from the EU against Russia is expected, alongside a coalition meeting concerning Ukraine. For investors, this is a factor in assessing the risk premium on Russian assets, energy, logistics, the banking sector, and European industrial companies.

At 14:00 Moscow time, the monthly OPEC report on the oil market will be released. This document is vital for evaluating the balance of supply and demand, OPEC+ quotas, global oil consumption forecasts, and production dynamics outside the cartel. For the oil and gas sector, it is one of the key documents of the month: reactions of Brent and WTI may influence the shares of oil companies, currencies of commodity economies, and inflation expectations.

At 21:00 Moscow time, the US will publish data on the federal budget for June. The budget deficit, dynamics of tax revenues, and expenditures will be crucial for the US bond market, especially amid discussions on the trajectory of federal debt and Treasury yields.

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

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

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

Tuesday will be the first truly significant day of the week. At 06:00 Moscow time, China will release its global trade data for June. China’s exports and imports are key for assessing external demand, the state of the industrial cycle, commodity prices, and the prospects for Asian markets. Weak data could increase pressure on cyclical sectors, while strong data could support metal producers, logistics, industrial companies, and the Nikkei 225.

At 09:00 Moscow time, Switzerland will present PPI for June. Although this indicator may not act as a primary global driver, it helps assess price pressures in Europe. The day’s main event will be the US CPI at 15:30 Moscow time. Investors will look not only at the overall consumer price index but also at the core inflation excluding food and energy. The US CPI could sharply alter expectations for the Fed, the dollar, gold, the S&P 500, and Nasdaq.

At 17:00 Moscow time, Waller is expected to speak at the House Financial Services Committee. The market will seek signals on the acceptability of further tightening or pausing Fed policy. Late in the evening, at 00:30 Moscow time, API data on US oil inventories will be released.

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

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

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

Wednesday will combine several crucial blocks: China, the US, Canada, Russia, and earnings reports from global leaders. At 05:00 Moscow time, China will publish its GDP for the second quarter of 2026. This is one of the most important macro indicators of the week for global investors, as it influences expectations for oil, gas, metals, semiconductors, consumer goods, and transportation demand.

At 12:00 Moscow time, industrial production data for the eurozone for May will be released. For Euro Stoxx 50, this indicator is significant as a measure of the core industrial health of Europe. At 15:30 Moscow time, the US will publish the NY Empire State Manufacturing Index for July and the PPI for June. If the PPI shows an acceleration in producer prices, the market could price in a more hawkish Fed rhetoric.

At 16:45 Moscow time, the Bank of Canada will announce its rate decision, followed by a press conference at 17:30 Moscow time. At the same time, EIA data on US oil inventories will be released. At 19:00 Moscow time, Russia will publish its CPI, which is significant for expectations concerning the Bank of Russia's rates, the ruble, and Russian bonds. At 21:00 Moscow time, the Fed will present the Beige Book—a qualitative review of the economic situation across US regions.

Corporate Earnings 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, and others will report. In Europe, the focus will be on Richemont, Antofagasta, SEB, SEB S.A., and other issuers. ASML will serve as a primary indicator of demand for semiconductor and AI infrastructure equipment.

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

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

Thursday will be the most eventful day of the week in terms of corporate earnings. At 09:00 Moscow time, the UK will publish GDP data for May, which is crucial for the pound, FTSE 100, and European cyclical assets. At 12:00 Moscow time, the eurozone will present its trade balance for May, allowing for assessment of European export competitiveness amid currency fluctuations and weak industrial demand.

At 15:30 Moscow time, the US will release three critical indicators: Initial Jobless Claims, the Philadelphia Fed Manufacturing Index, and retail sales data for June. This strong set of data is essential for assessing consumer demand, labor market conditions, and industrial activity. Pending Home Sales will come out at 17:00 Moscow time, followed by EIA data on natural gas inventories at 17:30 Moscow time.

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

TSMC will be a key indicator of chip demand and AI computing. Netflix will test the resilience of its subscription model and advertising monetization. UnitedHealth and Abbott will provide benchmarks for healthcare, and GE Aerospace will inform on the aviation cycle, while Prologis will give insights into warehouse real estate and global logistics.

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

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

Friday will conclude the week with significant macroeconomic data from Europe and the US. At 12:00 Moscow time, the eurozone will publish its CPI for June. For Euro Stoxx 50 and European bonds, this is the main inflation indicator of the week as it influences expectations for ECB policy, the banking sector, consumer stocks, and the euro/dollar exchange rate.

At 15:30 Moscow time, the US will present Housing Starts for June. Industrial production data will be available at 16:15 Moscow time, followed by the preliminary Michigan Consumer Sentiment Index for July and consumer inflation expectations at 17:00 Moscow time. This block of data is essential for evaluating US consumer resilience, production dynamics, and the Fed's future policy.

Separate attention from investors in digital assets will be drawn to the expected hearing on the CLARITY Act in the US Congress. Cryptocurrency regulation, token status, distribution of powers among regulators, and rules for trading platforms may influence the Bitcoin, Ethereum, public crypto companies, and fintech sectors.

Corporate Earnings Friday: Travelers, Regions Financial, Truist Financial, Fifth Third Bancorp, Volvo, Autoliv, SKF, Husqvarna, Sandvik, Assa Abloy, Danske Bank, Swedbank, EQT, Saab, and Epiroc will report. For regional banks in the US, the quality of credit portfolios, funding costs, and deposit dynamics will be significant. For European industrial companies, orders, margins, currency effects, and second-half demand forecasts will be crucial.

Russian Market: Friday is also significant for MOEX investors due to the last day for purchasing Sberbank shares with dividends. Dividend events may affect turnover, 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, the S&P 500 and Nasdaq will depend on inflation, bond yields, and corporate earnings quality. Banks will indicate the state of the credit cycle, technology companies will reflect the resilience of AI capex, and consumer data will illustrate the strength of internal demand.

In Europe, the Euro Stoxx 50 will react to eurozone CPI, trade balance, industrial production, and earnings reports from ASML, ABB, Nordea, Volvo, Sandvik, and Assa Abloy. For the Nikkei 225, China, TSMC, the semiconductor cycle, and the yen's exchange rate will be important. For MOEX, key drivers will include oil, the ruble, the sanctions agenda, inflation in Russia, dividends, and operational results from the largest issuers.

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

What Investors Should Focus on at the End of the Week

The week of July 13–17, 2026, could prove pivotal for assessing the second half of the year. If the US CPI and PPI confirm a slowdown in inflation, and earnings reports from banks and tech companies exceed expectations, the market will receive arguments for continuing risk-on sentiment. However, if inflation accelerates again and companies begin to express caution about demand and margins, investors may pivot to profit-taking in overheated sectors.

1. US Inflation: CPI and PPI will set the trajectory for 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 data will serve as 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 critical signals regarding AI infrastructure and semiconductors.
6. Europe and Russia: EU sanctions, eurozone CPI, and Russia’s CPI will be important for currencies, bonds, energy, and MOEX.
7. Crypto Regulation: Hearings on the CLARITY Act may increase volatility in digital assets and fintech.

Investors should approach this week as a period of high concentration of events. The optimal strategy is not to assess individual releases in isolation but to view the interplay of signals: inflation, rates, earnings, oil, China, and geopolitics. The intersections of these factors will ultimately determine the dynamics of the S&P 500, Euro Stoxx 50, Nikkei 225, MOEX, commodity assets, and currencies of emerging markets in the latter half of July.