Economic Events and Corporate Reports — Thursday, January 22, 2026: World Economic Forum, U.S. CPI and U.S. GDP

Detailed Overview of Economic Events and Corporate Reports for January 22, 2026. World Economic Forum in Davos, Key US Economic Indicators (CPI Inflation, PCE Index, Q3 GDP, and Labor Market), Oil and Gas Statistics from EIA, as well as Quarterly Reports from Major US Companies (Intel, Procter & Gamble, etc.), Europe (LVMH, etc.), Asia, and Russia.

Macroeconomic Calendar (MSK)

1. 16:30 – US: Consumer Price Index (CPI) for December 2025.
2. 16:30 – US: Q3 2025 GDP (Final Assessment).
3. 16:30 – US: Initial Jobless Claims (weekly).
4. 18:00 – US: Personal Consumption Expenditures (PCE) Price Index for November 2025.
5. 18:30 – US: Natural Gas Inventories (EIA), weekly report.
6. 19:00 – US: Kansas City Fed Manufacturing Activity Index (January).
7. 20:00 – US: Commercial Crude Oil Inventories (EIA), weekly report.

Inflation in the US: CPI and PCE Index

• Core Inflation (Core CPI, Core PCE) — the main benchmark for future Fed actions. A decrease in Core CPI/PCE closer to target levels will support markets (growth stocks and bonds); conversely, accelerating inflation will heighten expectations of policy tightening, raising government bond yields and cooling interest in risk assets. Price dynamics in housing and services are particularly crucial: a slowdown indicates easing inflationary pressures, while sustained growth suggests inflationary inertia.
• Market Reaction: Inflation data will drive US dollar dynamics and interest rates. A decrease in CPI/PCE will weaken the dollar and lower yields, benefiting technology stocks and gold prices; a higher index will strengthen the USD and negatively impact high-risk assets (including tech companies).

The US Economy: GDP and Labor Market

• US GDP (Q3 2025) – Final assessment of economic growth rates. Confirmation of solid economic expansion is expected. Strong GDP rates indicate stable consumer demand and investment despite the impact of high rates, whereas a downward revision would signal a more substantial economic slowdown under their pressure.
• Labor Market: The number of new jobless claims is a leading indicator of employment conditions. A low level of claims confirms ongoing labor market tightness and pressure on wage growth; an increase in this figure may be an early sign of hiring slowdown and reduced inflationary pressures. Investors will compare this data against recent unemployment dynamics and payroll numbers.

World Economic Forum in Davos

• Global leaders, central bank heads, and major company executives are discussing economic and socio-political challenges at the forum. On Day 4 in Davos, statements about the outlook for the global economy, inflation, and monetary policy are anticipated. Investors are closely monitoring signals from Fed and ECB representatives, which could influence market expectations.
• In addition to macroeconomics, long-term development topics are addressed at the forum – from artificial intelligence and digital economy to climate initiatives and the "green" transition. The outcomes of these discussions shape perspectives on future investment trends: from technology regulation to new sustainable development projects.

Energy: EIA Oil and Gas Inventories

• Oil (EIA): The weekly report from the Energy Information Administration on US crude oil inventories will reflect the short-term market balance. A decrease in inventories greater than forecasts will indicate sustained demand or reduced supply – a factor supporting oil prices and benefiting oil and gas company stocks. Conversely, an increase in inventories signals an oversupply or weakened demand, which could pressure oil quotes.
• Natural Gas: EIA data on gas storage shows seasonal inventory dynamics. A rapid decrease in inventories (e.g., due to cold weather) will drive gas prices up and support revenues for gas extraction and utility companies. However, if inventories decline slowly due to mild weather and levels remain high, it will limit price appreciation and affect sector profits.

Earnings Reports: Before Markets Open (BMO, US and Asia)

• Procter & Gamble (PG) — the global leader in the consumer sector will present FY results for October–December. Investors will assess organic sales growth and the impact of the pricing strategy: whether P&G managed to maintain volumes despite price increases and inflationary pressures. The focus will also be on margins in key product categories and management's forecast for 2026.
• Abbott Laboratories (ABT) — a major medical-pharmaceutical company will report revenues from its core divisions (medical devices, diagnostics, pharmaceuticals). Particular attention will be paid to sales of cardiology and diabetes equipment, as well as the demand for diagnostic tests. Abbott's results will signal the state of the global medical technology and services market.
• Bank Central Asia and First Abu Dhabi Bank will present their reports, allowing for evaluation of the banking sector's health in Asia and the Middle East.

Earnings Reports: After Market Close (AMC, US)

• Intel (INTC) and KLA Corp (KLAC) — the semiconductor sector will be in focus in the evening. Intel will present results for Q4 2025: the market will be interested in revenue from data center and PC segments and demand forecasts for chips (including for artificial intelligence). KLA, a producer of equipment for the chip industry, will complement the picture: order volumes for lithographic and measuring equipment will indicate chipmakers' investment plans. Together, Intel and KLA's reports will set the tone for the entire tech sector.
• Intuitive Surgical (ISRG) — a developer of robotic surgical systems will report quarterly results. Key metrics include the number of new Da Vinci systems installed and the growth of procedures performed using them. These metrics reflect the penetration level of robotic surgery: increased demand will support revenue and service income, while a slowdown will indicate market saturation. Investors will also evaluate the company's margins.
• Capital One (COF) — a major credit card issuer will outline consumer lending dynamics. Trends in the volume of loans issued and default rates will reveal how households are coping with debt burdens amid high rates. An increase in reserves for potential losses will serve as a worrying signal, while stable figures will confirm resilient demand.
• CSX Corp (CSX) — one of the largest US railway operators will provide insights into freight transport. Transport volumes across various categories and tariff dynamics will reflect business activity levels in industry and trade. Increasing volumes indicate economic strengthening, while decreasing ones may serve as an early indicator of slowdown.

European Earnings Reports: LVMH and Others

• LVMH Moët Hennessy Louis Vuitton — a leading global luxury conglomerate will report sales data for Q4 2025. Investors are keen on demand dynamics for premium brand goods in China, the US, and Europe during the festive season. Metrics from the fashion and leather goods divisions, as well as watches/jewelry and the wine and spirits businesses, are especially critical. A successful quarter for LVMH will support the entire luxury sector, while signs of slowing demand will reflect a softening of consumer interest in the premium niche. (It is noteworthy that results from Christian Dior SE, LVMH's main shareholder, will largely reflect the same trends.)
• Bankinter (BKT) — a Spanish bank will publish a report shedding light on the status of the Eurozone banking sector. The market will evaluate growth in interest income from lending amid elevated ECB rates, trends in mortgage and corporate lending in Spain, as well as asset quality (non-performing loan levels). Strong results will confirm the stability of the Spanish economy, while weak ones will serve as a warning signal for the European banking sector.

Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX

• Euro Stoxx 50: On January 22, the European market will primarily depend on external factors. Reaction to US data, outcomes of discussions in Davos, and dynamics in oil prices and the euro rate will set the tone for the index. A strong report from LVMH may support the luxury stock segment in France, but overall, Euro Stoxx 50 will follow the global investor sentiment towards risk.
• MOEX / Russia: No major corporate events are scheduled for this date — the primary flow of annual reports is expected in February-March. Therefore, external factors (oil prices, ruble exchange rate, global risk appetite) will serve as the key driver for the Moscow Exchange. Geopolitical news or sanctions might cause individual fluctuations.

Day's Summary: What Investors Should Focus On

• 1) US Inflation: The release of CPI and PCE data is the day’s key factor. Any deviation from forecasts will immediately impact expectations regarding Fed rates and bond yield movements, triggering a surge in equity market volatility (particularly in the tech sector) after 16:30 MSK.
• 2) Economic Momentum: A combination of GDP and labor market indicators in the US will reveal the resilience of growth. Strong figures will bolster confidence in the economy (but also the likelihood of a more stringent Fed policy), whereas weak ones will heighten expectations for a softer tone from the regulator. This will influence risk appetite – from trends in the S&P 500 / Nasdaq indices to sentiments in emerging markets.
• 3) Commodity Markets: EIA reports on oil and gas could provoke price movements in energy resources. Observe how oil reacts to inventory data – rising prices will support energy company stocks and commodity currencies (rubel, Canadian dollar), while falling prices will weaken these market segments.
• 4) Corporate Surprises: Key reports of the day (Intel, P&G, LVMH, etc.) will locally impact corresponding sectors and indices. Unexpectedly strong results in technology or consumer sectors will uplift overall market sentiment, while disappointments will intensify sell-offs in affected industries. The balance between macro and micro factors will determine market direction.
• 5) Risk Management: On a day with numerous events, it is vital for investors to remain cautious. It’s advisable to pre-define acceptable fluctuation ranges for key portfolio assets and establish trigger levels for orders. Utilizing limit orders and hedging tools will help mitigate potential losses during sharp market movements.