Economic Events and Corporate Reports — Friday, February 6, 2026 Nonfarm Payrolls USA, Reserve Bank of India rate, GDP of Russia

Key Economic Events and Corporate Reports on Friday, February 6, 2026: US Labor Market Data, Reserve Bank of India Rate Decision, GDP of Russia, Germany's Statistics, and Reports from Major Public Companies Worldwide.

This Friday, financial markets in the CIS region will focus on significant macroeconomic publications and corporate reports. The day promises to be eventful, featuring the decision from India's central bank, industrial production statistics from Europe, crucial US labor market data (Nonfarm Payrolls), and blocks of reports from major corporations. Below, we will review the primary events of February 6, 2026, their expected indicators, and potential market impacts. By the end of the day, investors will need to evaluate the results of the publications to adjust their strategies accordingly. A brief overview will help prepare for these events and understand what to expect in the markets.

EU: Possible Trade Tariffs Against the US

In light of ongoing trade tensions between the European Union and the United States, investors are closely monitoring the situation regarding potential tariffs. Previously, the US considered imposing a 10% tariff on a range of products from Europe (which could later increase to 25%) due to disagreements surrounding Greenland, but in January, this threat was unexpectedly withdrawn. The European Union, in response, has prepared countermeasures, including tariffs of 10%, 25%, and 30% on American goods (such as motorcycles, jeans, meat, etc.), which could come into effect as early as February 7, 2026. Following the US's softened stance, the EU has temporarily suspended the introduction of these tariffs for six months. Nevertheless, the possibility of a renewed tariff dispute remains a risk factor. If rhetoric escalates again, tension may re-emerge in EU equity markets. Meanwhile, no new measures are officially announced for February 6, and it is likely that both parties will continue dialogue in the vein of the July trade agreement, which includes maximum tariffs of 15% and a phased liberalization of trade. Investors should take these geopolitical factors into account, even if no immediate actions are expected on this day.

India: Central Bank Rate Decision (07:30 MSK)

Early on Friday, the Reserve Bank of India (RBI) will announce its decision on the interest rate. The meeting of the Indian regulator attracts attention as the Indian economy is demonstrating strong growth while inflation stabilizes. Analysts predict that the RBI will likely maintain the current key repo rate at 5.25%. It's worth noting that throughout 2025, the Indian central bank reduced the rate by a total of 125 basis points, including the most recent cut of 0.25 percentage points in December to 5.25%. Economists indicate that the easing cycle is probably over—the regulator prefers to wait and assess the effects of previous stimulative measures. The decision will be announced at 10:00 Indian time (07:30 MSK) following a three-day meeting. Markets are pricing in an RBI "pause": maintaining the rate could support the rupee's exchange rate and Indian stocks, whereas an unexpected move (such as an additional cut) would come as a surprise. Investors holding assets in Indian instruments should also monitor the regulator's rhetoric regarding liquidity and inflation— a neutral tone is expected, focusing on maintaining stability until macroeconomic dynamics become clearer.

Germany: Industrial Production for December (10:00 MSK)

At 10:00 MSK, Germany's industrial production data for December 2025 will be released. The previous month (November) saw a month-on-month increase of +0.8%, surpassing expectations, thanks to a revival in the automotive and machinery sectors, though the energy sector had contracted. However, a slight decrease in production is anticipated for December due to weakening external demand. The consensus forecast for the month-on-month change in industrial output in Germany stands at around -0.3% (following a +0.8% increase in November), although some models predict a minor uptick of approximately +0.3%. The year-on-year figures may also be close to zero or negative, considering last year’s high base and operational interruptions during the holiday season. This data serves as an indicator of the health of the EU’s largest economy and will influence the euro and European equity markets. If the statistics exceed expectations (for instance, if growth is maintained due to high orders— factory orders in Germany unexpectedly jumped by +7.8% month-on-month in December), it will support the euro and uplift sentiment in European exchanges. Conversely, weak industrial production could amplify concerns regarding the eurozone's economic slowdown.

USA: Nonfarm Payrolls for January and Unemployment Rate (16:30 MSK)

The main macro event of the day is the release of the labor market report for January 2026 in the US. Traditionally, the January NFP (Nonfarm Payrolls) release attracts heightened attention from the Fed and investors; this time, there is even more interest due to expected data revisions and a trend towards slower hiring. According to the consensus forecast, employment in January is expected to increase by approximately +70,000 jobs—slightly above the modest result from December (~50,000), but significantly lower than the average pace from the previous year. Major banks, such as BofA, are even more cautious and predict around +45,000 new positions, highlighting the softening labor market and potential statistical revisions. The unemployment rate is estimated to have remained at 4.4%—the same as the previous month. Recall that in December, unemployment fell to 4.4% from 4.5% in November despite modest job growth of only 50,000. Analysts will carefully examine the report's details: sectors contributing to job growth or reductions, trends in average hourly earnings, and revisions for prior months. Even a moderate NFP increase in the range of 50–70,000 could signal weakening in the US economy. For the markets, this could mean a reassessment of expectations regarding the Fed's policies— a weak report would increase the likelihood of a dovish shift from the regulator and pressure the dollar, while an unexpectedly strong surge in hiring could prompt an increase in bond yields and bolster the dollar. Thus far, the baseline scenario is a moderate increase in employment with stable unemployment around 4.4%, confirming the picture of a slowing but still relatively tight US labor market.

USA: Michigan Consumer Sentiment Index and Inflation Expectations (18:00 MSK)

Later in the evening, at 18:00 MSK, preliminary data for the University of Michigan's Consumer Sentiment Index for February will be released. In the previous month (January), American consumers showed slight improvement: the final index rose to 56.4 points, up from 52.9 in December, marking the highest level in five months. For February, a slight downward adjustment is expected—the consensus forecast is around 55 points, amid ongoing inflation and uncertainty. In addition to the sentiment index itself, data from the survey on Americans' inflation expectations hold significant weight. In the January report, short-term (one-year) inflation expectations notably decreased to 4.0%, the lowest level since January 2025, albeit still above pre-pandemic levels. Long-term (five-year) expectations, on the other hand, slightly increased from 3.2% to 3.3%, remaining above the range of 2.8–3.2% observed in 2024. Such figures suggest consumers anticipate a slowdown in inflation over the next year, but remain unsure about a return to target levels in the long term. If February's survey indicates further declines in inflation expectations and stability in the sentiment index, it will serve as a positive signal for the Fed (evidence of strengthening "anchors" in expectations) and for the markets, as it alleviates the need for aggressive actions from the central bank. Conversely, an unexpected spike in inflation expectations could disturb market participants. Investors will closely monitor this data as it influences interest rate sentiments and consumer activity.

Russia: GDP for Q4 2025 and Industrial Production (19:00 MSK)

In the evening, Rosstat will publish a block of essential macro statistics concerning the Russian economy. First, a preliminary estimate of GDP for Q4 2025 will be released. According to officials' statements, the Russian economy grew by approximately 1% for the entirety of 2025, slowing after a rapid recovery over the previous two years. For the first nine months of 2025, the total GDP growth was 1.0% year-on-year, and in Q3, a year-on-year increase of 0.6% was recorded. As a result, Q4 is expected to show close to zero growth rates—likely between 0% and +0.5% year-on-year, in line with the overall stagnation picture amid external restrictions and the waning effects of post-COVID recovery. Investors will assess how these actual figures align with expectations. Second, December's industrial production data will be released. Towards the end of the year, Russian industry exhibited a declining trend: in November, output fell by 0.7% year-on-year after a 3.1% growth in October, which was worse than forecasts (which anticipated +1.2%). The preliminary estimates for December are also cautious, with consensus predicting a drop of around 1% year-on-year. If the actual figures reveal a decline close to these values, it will confirm the trend of slowing industrial production by year-end. Separately, markets are monitoring developments in the oil, gas, and manufacturing sectors: preliminary data indicates that output in the manufacturing sector rose by approximately +2.8% for the entire year of 2025, while extraction may have decreased. The reaction of the Russian equity market and the ruble to the statistics will likely be limited, as the figures are close to expected. However, it is important for domestic policy to receive signals: resilience in GDP growth, albeit at a low level (around 1%), and the preparedness of industry for future challenges. Investors should note that macro factors in Russia are currently secondary compared to geopolitical considerations, but unexpected deviations in statistics may have short-term effects on the ruble's exchange rate and local stock prices.

Corporate Reports on February 6, 2026

In addition to macroeconomic factors, the corporate reporting season will continue in various regions on February 6. On this day, financial results will be presented by companies from the US, several European countries, and Asia. Below, we have compiled a list of key issuers reporting, noting their ticker, sector, reporting time, and the market's main expectations.

USA (S&P 500 and Others): Key Reports

* Times are given in Moscow time (MSK). In the US, most reports on February 6 are released before the opening of the exchange (BMO – before market open) since it is Friday.

Among the highlighted American issuers, investors should pay special attention to Biogen's report—the pharmaceutical company will present its Q4 2025 results and full-year results. A nearly 10% decline in revenue (to ~$2.2 billion) and earnings per share down to ~$1.60 is expected due to falling sales of existing MS drugs and competitive pressures in the market. Guidance from Biogen's management regarding new drugs and forecasts for 2026 will be in focus. Another interesting release is from Centene: the insurer is likely to report a sharp increase in revenue (+18% YoY) due to expanding Medicaid programs, but due to one-time expenses, a net loss for the quarter may occur. This could impact the company's stock, although operational trends are positive. Under Armour's report will close out the week; investors hope to see stabilization in sportswear sales after a challenging year. The consensus estimate for Under Armour is a slight loss (~$0.02 per share) with revenue around $1.55 billion, and any deviation could significantly affect the stock, given the volatility of the retail sector. Reports from AutoNation (sales dynamics and the profitability of the dealership business are expected to be stable), Cboe (growth in derivative trading revenues, consensus on earnings $2.9/share), and several other companies will also be released. Overall, Friday in the US is less packed with notable names than previous days of the week, but the data from Biogen, Under Armour, and others will offer insights into the health of various sectors—ranging from biotech to consumer markets.

Europe (Euro Stoxx 50): Reporting Situation

In Europe, February 6 will be a relatively quiet day regarding corporate reporting from major companies. Investors will likely focus more on macro statistics (as discussed above) and the results already published by various giants (such as Shell and BNP Paribas, which reported on February 5). No companies within the Euro Stoxx 50 index have planned to publish financial reports specifically for February 6. This is explained by the schedule of the European reporting season: most leading corporations in the Eurozone disclose Q4 results later in February or early March. However, individual second-tier companies will release data. For instance, the Norwegian telecommunications operator Telenor ASA will issue its Q4 2025 report in the morning, while Swedish real estate firms Balder and Hoist Finance will report in the afternoon. Although these firms are not part of the Euro Stoxx 50, their results may shed light on the state of the corresponding sectors in Europe—telecoms and real estate. Overall, the European stock market on February 6 will be guided by external signals (from the US and Asia) and the dynamics of economic indicators, while volatility from corporate news is expected to be low. Investors in European stocks should prepare for the main influx of annual reports closer to mid-month, but should already keep a pulse on any corporate announcements or warnings.

Asia (Nikkei 225): Key Japanese Companies

In the Asian region, the week's end will be marked by the release of reports from several major companies, primarily from Japan. Toyota Motor— the world's largest automaker— will present its financial results for Q3 of the 2026 financial year (October-December 2025) on February 6. This report is crucial for assessing the state of the automotive industry: a rise in Toyota's profits is expected due to a weaker yen and high sales of hybrid models, although analysts will monitor the impact of component shortages and strategies in the electric vehicle sector. Also on this day, according to Japanese media, other Nikkei heavyweights like the financial conglomerate Mitsubishi UFJ Financial Group (MUFG) and tech giant Sony Group are completing the publication of a weekly block of reports (their results may, however, be released earlier in the day or after the market closes on February 5). The Japanese stock market has already priced in expectations of positive results: many corporations have raised forecasts amid a weaker national currency and internal demand. If the reports meet expectations (for Toyota, the consensus anticipates increased operating profit and confirmation of the annual sales forecast), the stock prices of these companies and the Nikkei 225 index will receive support. Investors in Asian assets should also pay attention to telecoms— for instance, Advanced Info Service (AIS) from Thailand will publish quarterly results early in the morning, which could set the tone for trading in Southeast Asia. Overall, on February 6, Asian markets will react not only to local reports but also to the overall sentiment formed from the night data from the US and Europe.

Russia (MOEX): Corporate Calendar

On the Russian market, no financial reporting from major issuers is expected on February 6. Annual and quarterly results from companies making up the Moscow Exchange Index (MOEX) traditionally come out later—usually in March-April (annual IFRS) or after the quarter concludes. Thus, neither Sberbank nor Gazprom nor other "blue chips" will present any new data on this day. However, investors should note that some companies may publish operational production figures for January or provide forecasts for the year as part of industry events. Additionally, the corporate backdrop in Russia on February 6 will be shaped by external news: the dynamics of oil and metals prices, as well as global risk appetite trends. Therefore, it can be said that this day for the Russian stock market will be characterized by macroeconomic statistics (GDP and industrial production, discussed above) and external signals rather than internal corporate drivers. Investors on the MOEX should utilize the relative lull in the reporting calendar to prepare for the onset of the Russian financial reporting season in spring and evaluate the fundamental ratios of Russian stocks ahead of future releases.

Conclusion: What Investors Should Pay Attention To

February 6, 2026 consolidates several topics capable of influencing market sentiment. Investors should assess the results of the Reserve Bank of India's decision and data from Europe in the morning, then focus on the "super Friday" in the US— the Nonfarm Payrolls report, which will set the tone for trading in the latter half of the day. In the evening, important indicators from Russia will emerge, although their influence will be more localized. The corporate block is less packed than in previous days of the week, but reports from companies like Biogen, Under Armour, and Toyota will serve as indicators of the state of their respective sectors. By evenly distributing attention between macro and microeconomic factors, an investor can timely respond to emerging information. The main advice is to watch for deviations of actual data from forecasts: it is these surprises (whether an unexpected surge in US unemployment, a sharp change in inflation expectations, or an unexpectedly strong/weak corporate report) that often provoke the most vigorous market responses. May this Friday be productive for you— having thoroughly prepared, you will face it fully equipped and ready to make informed investment decisions.