Economic Events and Corporate Reports - Tuesday, January 6, 2026: Services PMI, Germany CPI, API Oil Inventories

Detailed Review of Economic Events and Corporate Reports for January 6, 2026: Service PMI, German Inflation, API Oil Stocks, Ukraine Meeting, and Reports from Companies in the USA, Europe, Asia, and Russia

The first working Tuesday of the new year is packed with significant data for investors worldwide. Attention will be on the December Purchasing Managers’ Index (PMI) for the services sector across several key economies, from Australia and India to the Eurozone, the UK, and the USA. In Europe, the release of inflation data for Germany stands out; the price dynamics of the largest economy in the EU will help gauge potential further actions by the European Central Bank. Concurrently, the geopolitical agenda will remind market participants of the high-level meeting of Ukraine’s ally coalition in France, the outcome of which could influence market risk appetite. On the corporate front, earnings reports will continue to roll in: while the beginning of January is traditionally not marked by a plethora of significant releases, investors will keep an eye on the results from several companies in the USA, Asia, and other regions that may set the tone for specific sectors. Altogether, this combination of macro statistics and corporate news on Tuesday will form the first benchmarks for global markets in 2026. It is crucial to analyze the indicators in conjunction: strong PMIs will signal economic health, while slowing inflation will support bonds and equities, whereas geopolitical decisions could alter the dynamics of commodities and currencies.

Macroeconomic Calendar (Moscow Time)

1. Throughout the day – France: high-level meeting of Ukraine’s ally coalition (“coalition of the willing”).
2. 01:00 – Australia: Services PMI for December.
3. 08:00 – India: Services PMI and Composite PMI for December.
4. 11:55 – Germany: Services PMI/Composite PMI (December).
5. 12:00 – Eurozone: final assessments of Services PMI and Composite PMI (December).
6. 12:30 – UK: final Services PMI and Composite PMI (December).
7. 16:00 – Brazil: Services PMI and Composite PMI (December).
8. 16:00 – Germany: Consumer Price Index (CPI, December).
9. 17:30 – Canada: Services PMI and Composite PMI (December).
10. 17:45 – USA: Services PMI (S&P Global Services PMI) and Composite PMI (December).
11. 00:30 (Wednesday) – USA: Weekly oil inventories from API.

Global Services PMI: A Signal of Growth Pace

The December Services PMI indexes are set to be released for several countries, providing a comprehensive picture of the global economy as 2025 comes to a close. It is essential for investors to assess whether the stability in the services sector, which often compensated for industrial weaknesses last year, remains intact. In the Asia-Pacific region, Australia's indicators may reflect the impact of tourism recovery and domestic demand, while India, typically exhibiting high growth rates, is likely to remain in assured expansion territory above 50 points. The final PMIs from Europe (Germany, Eurozone, UK) will confirm or adjust preliminary estimates: an improvement in services activity in December will bolster hopes for a soft economic landing, whereas a decline in PMI will indicate ongoing pressure from high rates on businesses and consumers. In the US, the PMI index from S&P Global will provide an overall picture: an increase in the indicator will signal sustained demand in the services sector and support the equity markets, while a slowdown in activity could heighten expectations for more dovish Federal Reserve policies. Overall, synchronous growth in Services PMIs across different countries will serve as a positive driver for global markets, supporting shares of cyclic companies and emerging markets, whereas disparate or weak data may boost interest in defensive assets.

Germany: Is Inflation Slowing Down?

European investors will focus on the December Consumer Price Index (CPI) for Germany—a crucial indicator for assessing the inflation backdrop in the Eurozone. Previous months showed a decline in annual inflation in Germany closer to the target 2–3%, and the new data will confirm whether this trend has been secured. A slowdown in price growth in December (especially in food and energy components) will strengthen expectations that the European Central Bank will refrain from further interest rate hikes: for the markets, this would be a positive signal supporting German government bonds (Bunds) and the DAX stock index. Conversely, an unexpected acceleration in inflation could alarm investors: a rise in CPI above forecasts would reignite discussions on the need for further tightening by the ECB, typically exerting pressure on European equities and leading to increased bond yields. Special attention will be given to core inflation (excluding energy and food prices), reflecting internal price pressures in the services sector and wages. Data from Germany will also set the tone ahead of the overall inflation statistics for the Eurozone: markets will assess the prospects for the euro and the dynamics of the Euro Stoxx 50 through the lens of German figures.

Oil and Commodities: Focus on Stocks and Geopolitics

Energy prices on Tuesday may be influenced by two factors: weekly oil stock statistics in the USA and international political events. On the night of Wednesday, the American Petroleum Institute (API) will release data on commercial oil and petroleum product stocks for the past week. Previous API reports indicated volatility in stocks at the year-end—from significant reductions due to increased export demand to unexpected accumulation of reserves. If the fresh data shows a notable decline in oil stocks, this will support Brent and WTI prices, signaling robust demand and limited market supply. On the contrary, an increase in stocks may temporarily weaken oil prices, heightening concerns over supply excess or demand slowdown. An additional factor on Tuesday will be the aforementioned meeting of the “coalition of the willing” on Ukraine: any escalatory statements or new sanctions could impact commodity markets, particularly the oil market and gas prices, considering the role of Russia and allied countries in global energy supplies. Overall, for commodity investors, this day will require close attention to both API figures and news from the realm of high politics.

Geopolitics: Meeting of the Coalition of Allies for Ukraine

The high level of geopolitical activity on Tuesday will be represented by a summit in France involving the countries of the “coalition of the willing” supporting Ukraine. This diplomatic forum, gathering leaders and high-ranking representatives from key Western nations, aims to coordinate further military and financial assistance to Ukraine and discuss strategies amid the ongoing conflict. For financial markets, the outcomes of this meeting are crucial in terms of overall risk appetite: confirmation of allies' unity and increased support may strengthen investor confidence in the stability of the situation in Europe, indirectly supporting the euro and assets of emerging markets in the region. However, if disagreements arise during the meeting or if no concrete decisions are made, this could heighten geopolitical uncertainty. News from Paris could significantly impact defense sector companies (in the case of announcements regarding new arms contracts) and commodity markets, especially if issues regarding sanctions on energy resources are discussed. On this day, investors will monitor statements from summit participants and the willingness of countries to escalate sanctions or, conversely, hints at potential avenues for conflict resolution.

Earnings: Pre-Market (BMO, USA and Asia)

• RPM International (RPM) – an American manufacturer of building materials and coatings. Investors are expecting a report for the last quarter of the 2025 financial year: the focus will be on the margins of construction chemicals and finishing materials segments amid raw material price fluctuations. Positive forecasts for demand in construction and repairs may support not only RPM shares but the entire industrial materials sector.
• Takashimaya Co. (8233.T) – one of Japan's largest department store chains. The company will present results for the pre-holiday quarter, which includes the sales season and New Year shopping. Key metrics will include comparable sales growth in major cities and trends in consumer demand in offline retail. Investors are also interested in management's comments regarding tourist traffic and the recovery of domestic consumption in Japan.
• Lindsay Corporation (LNN) – a manufacturer of irrigation systems and agricultural equipment (USA). The company’s report will provide insights into farmers' capital investments amidst volatile agricultural prices. Special attention will be given to the volume of new orders for irrigation systems and infrastructure projects, as well as profitability, considering rising raw material and logistics costs.
• AngioDynamics (ANGO) – an American medical technology company specializing in equipment for minimally invasive surgery and therapy. Analysts expect to see signs of improving sales for key product lines and reduced losses in the quarterly financial result. Particular focus will be on revenue growth rates in the oncology and vascular surgery segments, as well as an updated management forecast for returning to profitability.
• AZZ Inc. (AZZ) – an industrial group from the USA operating in the energy and utility equipment sector, as well as in metalloprotection services (hot-dip galvanizing). The report of AZZ will serve as an indicator of activity in infrastructure projects and the energy sector. Investors will assess the volume of orders for electrical equipment and metal structures, as well as profitability amid the implementation of federal infrastructure modernization programs.

Earnings: After Market Close (AMC, USA)

• AAR Corp. (AIR) – an American company providing maintenance and supply services in the aerospace industry. AAR's quarterly report will show how confidently the recovery of civil aviation continues: growth in revenue from aircraft maintenance and parts supply signals increased activity among airlines. Comments on the company’s defense contracts and the status of its clients—namely, the Air Force and other government agencies—will also be important.
• Penguin Solutions (PENG) – a technology company specializing in high-performance computing (HPC) solutions, corporate server platforms, and memory components. Although Penguin Solutions is a mid-cap firm, its results are interesting in terms of trends in artificial intelligence and cloud computing. The market will be watching the revenue from data center solutions and the business's margin amidst high demand for AI and data storage equipment.
• Saratoga Investment Corp. (SAR) – an investment company (BDC) providing financing to middle-market businesses in the USA. The earnings report of Saratoga Investment after the market closes may signal the state of the credit market: net investment income dynamics and the volume of loans issued will reflect both the demand for capital among companies and the quality of the credit portfolio. Investors will also pay attention to the size of the BDC dividend, which is sensitive to profit changes.

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

• Euro Stoxx 50: for leading European companies on January 6, no major individual reports are expected, so the tone of trading in the Eurozone will be set by macro data. The Composite Services PMI and inflation data from Germany will shape expectations regarding the EU economy, impacting the banking sector and consumer companies. The euro and pound exchange rates may react to statistics, reflecting on the region's exporters. Overall, the European market will assess how confidently the region is emerging from the winter period of subdued growth.
• Nikkei 225 / Japan: the Japanese stock market is on the brink of the main earnings season for the third quarter of the financial year. While most of Japan's large corporations will publish results closer to the end of January, separate releases are already attracting attention. In particular, the performance of retailers like Takashimaya will provide an early signal about consumer activity during the holiday season. Moreover, external factors, including yen dynamics and PMI data from China, may influence investor sentiment in Tokyo. The Nikkei 225 will respond sensitively to the technology sector: any news about demand for electronics and semiconductors will set the direction for high-tech blue chips.
• MOEX / Russia: the Russian stock market returns to work after an extended New Year holiday; therefore, on January 6, investor activity may be lower than usual. Significant corporate reports from issuers within the MOEX index are not expected on this day: the traditional publication of financial results for the full year 2025 will begin later in January-February. However, external benchmarks—global oil prices and the sentiment of global markets—will be decisive for the dynamics of Russian stocks and the ruble exchange rate. Individual companies may disclose operational figures for December (for example, production volumes from oil and gas producers or sales from retailers), providing local investors with additional reasons to reassess their positions. Overall, the MOEX enters the new year under the influence of external factors and geopolitical rhetoric, maintaining a focus on commodity trends and the monetary policy of the Bank of Russia.

Day's Summary: What Investors Should Pay Attention To

• Global Services PMI: a synchronous improvement in Services PMI (especially in the Eurozone, the UK, and the USA) will be a positive signal for the stock markets and commodities. However, weak indicators in certain countries may intensify discussions about recession risks—potentially leading to increased interest in bonds and defensive assets.
• Inflation in Germany: the CPI figures for December will set the tone for expectations regarding ECB policy. Soft inflation data (below forecasts) could strengthen European bonds and weaken the euro, supporting stocks in interest-sensitive sectors (real estate, auto lending). Conversely, an unexpected rise in inflation could pressure the Euro Stoxx 50 and locally strengthen the euro in Forex.
• Oil and Commodities: the API report on oil stocks may provoke price movement for energy resources during the Asian and European sessions on Wednesday. Oil and gas company investors need to be prepared for volatility: a reduction in stocks will bolster Brent prices and shares in the oil and gas sector, while an increase in stocks or negative news from the Ukrainian summit may weaken the oil market.
• Geopolitical News: the outcomes of the coalition meeting on Ukraine in France will have deferred impacts. Any statements regarding expanded support or, conversely, disagreements between allies may reflect on European markets and the euro exchange rate. Additionally, rhetoric regarding intensified sanctions may affect commodity markets (oil, metals) and shares of companies associated with these sectors.
• Corporate Earnings: among the releases of the day, particular interest is on RPM International (an indicator for the construction sector) before the market opens, and AAR Corp. (aerospace sector) after the market closes. Their results and forecasts may locally impact their respective sector indices. Investors should also pay attention to the technological aspects of reports (e.g., Penguin Solutions data in the HPC segment) and signals of consumer demand from Asia (Takashimaya sales)—these factors will aid in adjusting strategies at the start of the new year.
• Risk Management: given the abundance of mixed events—ranging from macro data to geopolitics—January 6 could bring increased market volatility. It would be prudent for investors to define key levels for their positions in advance and utilize protective instruments (stop orders, hedging) while avoiding excessive risks before the release of the most important indicators. Balancing among PMI data, inflation, and news, it is advisable to adhere to diversification and monitor asset correlation in the portfolio.