Detailed Review 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. In Europe, the focus is on industrial and price statistics: the latest figures on factory orders in Germany and the PPI of the Eurozone will provide insights into the economic state of the region and the dynamics of inflationary pressure, which are crucial for the ECB's policy outlook. In the US, attention is centered on labor market conditions and the balance of trade: weekly jobless claims remain one of the indicators of economic strength, while the trade balance report is also scheduled for release. Investors will also 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 inventories amid the winter season. On the corporate side, the first reports of the year are coming in: several American companies in the consumer goods and technology sectors will release quarterly results, while key retailers in Europe will report on Christmas sales. It is important for investors to consider these disparate signals collectively to recalibrate expectations around interest rates, currency values, and sentiments in risk assets.
Macroeconomic Calendar (Moscow Time)
- 10:00 — Germany: factory 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 — US: initial jobless claims (weekly).
- 16:30 — US: trade balance (October).
- 18:30 — US: natural gas inventories (EIA) (weekly).
- 19:00 — US: consumer inflation expectations (NY Fed, 1-year) (December).
Europe: Orders in Germany, Producer Prices and Consumer Confidence
- Germany (Factory Orders): The indicator of new industrial orders for November will show whether the momentum for recovery is being maintained in Europe’s leading economy. In the previous month, orders increased, partially due to major contracts, which supported hopes for stabilization in the industrial sector. Weak November data may confirm sluggish demand for goods, heightening expectations for stimulus, while an unexpected increase in orders would send a positive signal for Germany's economy and the EU as a whole.
- Eurozone (PPI): The producer price index for November is likely to indicate a continuation of the trend of easing price pressures at the entry of the production cycle. A slowdown or decline in PPI on a year-over-year basis reflects lower energy and commodity costs compared to the previous year, alleviating burdens on businesses. For the ECB, PPI dynamics serve as a leading indicator of future consumer inflation: consistently low PPI will increase confidence that inflation will decline and strengthen arguments for maintaining a pause in rate hikes.
- Consumer Confidence and Expectations: Concurrently published household sentiment indexes in the Eurozone will provide insight into how Europeans conclude the year. The consumer confidence index for December is expected to remain in negative territory but moderately improve amid slowing inflation and rising wages. A crucial component will be the indicator of inflation expectations among the populace: if one-year expectations decrease or remain around recent levels, it will confirm that the ECB's efforts to instill confidence in price stability are having an effect. An improvement in consumer sentiment could support the outlook for the retail and services sectors in the EU, while pessimism may hinder the recovery of domestic demand.
US: Labor Market, Trade Balance, and Inflation Expectations
- Jobless Claims: Weekly initial jobless claims in the US are traditionally viewed as a timely barometer of labor market conditions. In recent weeks, the number of claims has remained at historically low levels (~200k), indicating a continued tendency for companies to retain employees despite high Fed interest rates. If the upcoming report for the first week of January shows fewer than 220k claims again, this will affirm the resilience of the labor market and may bolster hawkish sentiments—the strong job market allows the Fed to maintain a tighter policy for longer. Conversely, an increase in claims above expectations would represent the first sign of weakening hiring and could fuel discussions about a turning point in monetary policy.
- US Trade Balance: The upcoming data on external trade for October will reveal the size of the trade balance deficit at the beginning of Q4. In September, the deficit of goods and services narrowed to ~$53 billion, aided by rising exports of energy resources and a decline in imports. However, analysts do not rule out a further widening of the deficit in October due to a revival in domestic demand and rising oil prices, which could increase the cost of imported fuels. A significant deviation of the actual deficit from forecasts could affect the dollar's exchange rate and estimates of external trade's contribution to US GDP for the quarter. Investors will also pay attention to export trends: weakening global demand for US goods or a stronger dollar may impact the revenues of industrial corporations.
- Inflation Expectations (NY Fed): The New York Fed's report on consumer expectations will serve as an important addition to the inflation picture. In November, the median expected inflation one year ahead remained around 3.2%, significantly lower than a year ago but still above the target of 2%. The December survey will show how confident American households are in slowing price growth: a further decrease in expectations (e.g., to ~3.0%) would be a reassuring signal for the Fed, indicating strengthened confidence in long-term price stability. If, however, inflation expectations remain stubbornly above 3% or, worse yet, start to rise, it will raise alarms in the markets, as it may force the Fed to keep rates elevated for longer. The behavior of consumer expectations directly influences bond yields and, through them, affects valuations of high-tech stocks sensitive to changes in the discount rate.
Energy Markets: EIA Report on Gas Inventories
- Natural Gas Inventories (EIA): The traditional weekly report from the US Energy Department on gas storage takes on particular significance amid the winter season. Previous reports have indicated that US gas inventories remain somewhat above the average long-term level due to a mild start to winter and record production. The new release will reflect the volume of gas withdrawn from storage during 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 rise in consumption (e.g., due to cooling temperatures) could reverse price trends upward. Traders in Europe are also monitoring this data due to the global integration of gas markets via LNG: stable inventories in the US indirectly signal the reliability of liquefied gas export supplies, which is crucial for European countries facing winter. Thus, the balance of demand and supply in the gas market on both sides of the Atlantic will affect stocks of energy companies and the currencies of energy-exporting nations.
Corporate Reports: Before Market Open (BMO, US and Asia)
- Helen of Troy (HELE): The consumer goods manufacturer (brands OXO, Braun, Vicks, and others) will release results for Q3 of the fiscal year 2026 before markets open. Investor focus will be on sales dynamics in household and health goods segments during the holiday season, as well as the recovery of margins. The company has faced rising costs and supply chain issues, so the market will be looking for signs of improved profitability and updated management forecasts for the year.
- Neogen Corporation (NEOG): A biotechnology company specializing in food safety testing and veterinary diagnostics will report before market opening. This will be the report for Q2 of the 2026 fiscal year, the first full quarter post-integration of recently acquired divisions. Investors will evaluate revenue growth, synergies from the merger with 3M's food safety business, and the state of operating margins. Any comments from management regarding demand from the agricultural sector and food producers will be crucial for forecasts of further growth.
- The Simply Good Foods Company (SMPL): The manufacturer of healthy foods and snacks (brands Atkins, Quest) will present financial results for Q1 of the 2026 fiscal year. The holiday period traditionally supports snack demand, and analysts expect solid sales growth. A key question will be margin dynamics: investors will watch whether the company has managed to contain the costs of ingredients and logistics to maintain profitability amid raw material inflation. The company’s forecast for the remainder of the year regarding demand trends for protein bars and low-carb products will also influence perceptions of the health food sector's prospects.
- TD SYNNEX (SNX): One of the largest IT equipment and solutions distributors will report for Q4 of the 2025 fiscal year (as well as for the entire FY2025) before markets open in New York. The results from TD SYNNEX will provide insight into the state of the global technology market and corporate IT spending towards the end of the year. The focus will be on revenue volume and orders for electronics, computer equipment, and software amid mixed demand: previously, some competitors indicated softening purchases from small businesses, but stable demand for cloud solutions and corporate infrastructure upgrades may have supported sales. Investors will also analyze the company’s forecasts for the next year and comments on the impact of macro factors (high rates, geopolitics) on the IT sector.
Corporate Reports: 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 fiscal year after the US market closes. Shareholders will be interested to see if the company was able to grow sales volumes of its signature WD-40 aerosol and related products in key markets (US, Europe, Asia) amid economic uncertainty. In the previous quarter, WD-40 recorded double-digit revenue growth in the Asian region, and a continuation of this trend would be a positive signal. Also in focus will be the gross margin, considering the volatility in chemical raw material and packaging prices: an improvement in margins will indicate effective pricing strategies and cost-saving measures. Management's forecast for the remainder of the fiscal year regarding industrial and household consumer demand 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 few major corporate earnings announcements from companies in the pan-European index; the European session will be predominantly influenced by macroeconomic data (German orders, price statistics from the Eurozone) and reactions from currency-commodity markets. Additionally, investors will focus on sales updates from the largest British retailers: on this day, Christmas sales reports from giants such as Marks & Spencer (MKS) and Tesco (TSCO) will be presented in London. A successful holiday season in UK retail could support a positive sentiment in the European consumer market, while poor results could heighten concerns about household spending cuts.
- Nikkei 225: In Japan, the corporate calendar for January 8 is lean as the primary earnings season will commence later in January. Trading on the Tokyo Stock Exchange will primarily focus on external signals—dynamics from Wall Street the previous day, changes in the yen's exchange rate, as well as investor sentiment regarding the technology sector. The lack of internal drivers means that the Nikkei 225 index will likely move in alignment with global trends in risk appetite. Overall, Asian markets will continue to monitor the prospects of monetary policies from the US Fed and China, which dictate capital inflows into the region.
- MOEX: The Russian market remains in a state of low activity this Thursday due to the New Year holidays (official holidays in Russia have been extended to January 8). Significant corporate reporting is not scheduled on the Moscow Exchange, so market sentiment will be influenced by external factors—oil and gas prices, dynamics of global stock indices, and currency rates on the forex market. Investors in the Russian market will focus on how global data and corporate reports may impact risk appetite and will prepare for a revival in trading next week when the holidays conclude.
Day's Summary: What Investors Should Focus On
- 1) European Indicators: Morning data from Germany and the Eurozone will set the tone for session in the EU. Strong orders from German enterprises and a low PPI may support the euro and industrial sector stocks, bolstering hopes for a soft landing for the economy. However, weak statistics may heighten expectations for stimulus measures, 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 act as a key driver for dollar-denominated assets in the afternoon. Particular attention will be on the jobless claims figure: further confirmation of labor market strength may trigger a rise in Treasury yields and pressurize technology company stocks. Should the data indicate economic cooling (rise in unemployment, increasing trade deficit, heightened inflation expectations), investors may shift to a cautious mode, supporting bonds and defensive sectors.
- 3) Corporate Reports and Forecasts: The first company result publications in 2026 will provide local ideas for movements in individual 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 reveal trends in corporate IT spending. In Europe, reports from retail networks (M&S, Tesco) will act as indicators of consumer behavior during the holiday period. Successful corporate releases may improve investor sentiment in the corresponding 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 decrease in gas or oil prices due to mild winter conditions and high inventories will support the transportation and chemical sectors but may exert pressure on energy company stocks. Conversely, a sudden price surge in energy resources will immediately impact inflation expectations and profitability of energy-intensive enterprises. Therefore, investors should consider energy markets while balancing their portfolios on this day.
