Investor Calendar July 13 to 17, 2026: US CPI, China's GDP and Earnings Season

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

The week of July 13–17, 2026, is set to be pivotal for global markets as we move into the heart of summer. For investors in the US, Europe, Asia, and Russia, several key factors will demand attention: the official commencement of the US corporate earnings season, June CPI and PPI inflation numbers in the US, China's Q2 GDP, retail sales, industrial output, and housing market statistics, the Bank of Canada's interest rate decision, the monthly OPEC report on the oil market, and the potential advancement of the EU's 21st sanction package against Russia.

The central intrigue of the week lies in whether the market can maintain its risk appetite after a strong first half and whether the earnings reports from major public companies will confirm profit resilience. 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 keep an eye on ASML, BP, Ericsson, Rio Tinto, Nordea, ABB, Atlas Copco, Volvo, Sandvik, and Assa Abloy. In Asia, key focal points will include TSMC, Wipro, Tech Mahindra, and macro data from China. For the Russian market, the operational results of Aeroflot, X5, and Henderson, as well as dividend announcements from Sberbank and other issuers, will be of particular significance.

Key Themes for Investors This Week

The economic events of the week create a dense web of signals for assessing monetary policy, corporate profits, and global demand. Investors should focus on several areas:

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

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

Monday will kick off the week, not primarily with macroeconomic statistics, but rather with geopolitical developments and commodity signals. Discussion and potential advancement of the 21st EU sanctions package against Russia, as well as a meeting of the coalition of interested parties regarding Ukraine, are anticipated. For investors, this factor represents an assessment of the risk premium concerning Russian assets, energy, logistics, the banking sector, and European industrial companies.

At 14:00 Moscow time, OPEC will release its monthly oil market report. This document is essential for assessing supply and demand balance, OPEC+ quotas, projections for world oil consumption, and production dynamics outside the cartel. For the oil and gas sector, this is one of the key documents of the month: the reaction in Brent and WTI prices can influence shares of oil companies, currencies of commodity economies, and inflation expectations.

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

Corporate Earnings for Monday: Among notable companies reporting are PrairieSky Royalty in Canada and Thermador Groupe in France. On the Russian market, the operational results of Aeroflot for June are expected. For MOEX, dividend announcements from various issuers, including registry closures and the final days for purchasing dividend-declaring shares, will also be important.

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

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

Tuesday will mark the first truly major day of the week. At 06:00 Moscow time, China will release trade data for June. China’s exports and imports are vital for evaluating external demand, the state of the industrial cycle, commodity prices, and the prospects of Asian markets. Weak data may increase pressure on cyclical sectors, while robust results will bolster metal producers, logistics, industrial firms, and the Nikkei 225.

At 09:00 Moscow time, Switzerland will present industrial PPI for June. While this figure isn’t a primary global driver, it helps gauge price pressures in Europe. The main event of the day will occur at 15:30 Moscow time with the US CPI report. Investors will be focused not only on the headline consumer price index but also on the core inflation excluding food and energy. The US CPI could dramatically alter expectations regarding the Fed's interest rates, the dollar, gold, the S&P 500, and Nasdaq.

At 17:00 Moscow time, Waller will speak at the House Financial Services Committee. The market will be looking for signals regarding the permissibility of further tightening or a pause in Fed policy. Late in the evening, at 00:30 Moscow time, API data on US oil inventories will be released.

Corporate Earnings for Tuesday: The key segment of the US earnings season will begin with reports from JPMorgan Chase, Bank of America, Goldman Sachs, Wells Fargo, and Citigroup. Other important companies include Fastenal, BP, DNB Bank, Ericsson, and Rio Tinto. US investors will be evaluating the net interest margin, reserves for credit losses, deposit trends, trading revenues, and investment banking fees.

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

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

Wednesday will unify several key blocks: China, the US, Canada, Russia, and corporate earnings from global leaders. At 05:00 Moscow time, China will publish its Q2 GDP figures for 2026. This is amongst the most important macro indicators of the week for global investors as it influences expectations on demand for oil, gas, metals, semiconductors, consumer goods, and transport.

At 12:00 Moscow time, industrial production for the eurozone will be issued for May. For Euro Stoxx 50, this figure serves as an indicator 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 PPI reflects an acceleration in producer prices, the market may price in a more hawkish tone from the Fed.

At 16:45 Moscow time, the Bank of Canada will announce its rate decision, followed by a press conference at 17:30 Moscow time. Concurrently, EIA data on US oil inventories will be released. At 19:00 Moscow time, Russia will publish its CPI, which is crucial for expectations regarding the Bank of Russia’s rate, the ruble, and Russian bonds. At 21:00 Moscow time, the Fed will release its Beige Book—a qualitative overview of the economic conditions by region across the United States.

Corporate Earnings for Wednesday: Companies reporting include ASML, Johnson & Johnson, Morgan Stanley, BlackRock, Progressive, Bank of New York Mellon, PNC Financial, Elevance Health, Cintas, United Airlines, M&T Bank, Conagra Brands. In Europe, the focus will be on Richemont, Antofagasta, SEB, SEB S.A., and others. ASML is expected to be a key indicator of demand for semiconductor equipment and AI infrastructure.

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

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

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

At 15:30 Moscow time, the US will publish three crucial indicators: Initial Jobless Claims, Philadelphia Fed Manufacturing Index, and retail sales for June. This strong set of data will assess consumer demand, labor market conditions, and industrial activity. At 17:00 Moscow time, Pending Home Sales will be released, followed by EIA natural gas inventories at 17:30 Moscow time.

Corporate Earnings for Thursday: Key reports are expected from TSMC, UnitedHealth Group, Netflix, GE Aerospace, Abbott Laboratories, Prologis, U.S. Bancorp, State Street, Citizens Financial, Intuitive Surgical, Nordea, and Telenor. In Europe, reports from Vinci, Publicis Groupe, Aéroports de Paris, ABB, Investor AB, Atlas Copco, SSE, and Experian are anticipated. In Asia, attention will be focused on TSMC, Wipro, and Tech Mahindra. On the Russian market, investors will await the operational results of X5 for Q2 and the first half of 2026, as well as operational data from Henderson.

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

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

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

Friday will conclude the week with significant macroeconomic data from both Europe and the US. At 12:00 Moscow time, the eurozone will release its June CPI. For Euro Stoxx 50 and European bonds, this is the week's primary inflation indicator, influencing expectations regarding ECB policy, the banking sector, consumer stocks, and the euro/dollar currency pair.

At 15:30 Moscow time, the US will present Housing Starts for June. At 16:15 Moscow time, industrial production data will be released, followed by Michigan Consumer Sentiment's preliminary index for July and consumer inflation expectations at 17:00 Moscow time. This data block is crucial for assessing the resilience of the American consumer, production dynamics, and the Fed's future policy direction.

A separate focus for investors in digital assets will be the anticipated hearings regarding the CLARITY Act in the US Congress. Cryptocurrency regulation, token status, allocation of powers among regulators, and rules for exchanges may impact the markets for Bitcoin, Ethereum, public crypto companies, and the fintech sector.

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

Russian Market: Friday is also critical for MOEX investors due to the final day for purchasing Sberbank shares with dividends. Dividend events may influence trading volumes, 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 serve as a test for several investment hypotheses. In the US, the S&P 500 and Nasdaq will depend on inflation, bond yields, and the quality of corporate reports. Banks will indicate the state of the credit cycle, technology companies will reflect the resilience of AI capital expenditures, and consumer data will signify the strength of internal demand.

In Europe, the Euro Stoxx 50 will react to the eurozone CPI, the trade balance, industrial production, and reports from ASML, ABB, Nordea, Volvo, Sandvik, and Assa Abloy. For the Nikkei 225, China, TSMC, the semiconductor cycle, and the yen currency factor are crucial. For MOEX, key drivers will remain oil, the ruble, the sanctions agenda, inflation in Russia, dividends, and operational results from major issuers.

• S&P 500: banks, US inflation, retail sales, reports from Netflix, UnitedHealth, GE Aerospace, and TSMC via the global technology chain.
• Euro Stoxx 50: ASML, European inflation, industry, banks, and exporters.
• Nikkei 225: China, semiconductors, yen dynamics, and global demand for electronics.
• MOEX: oil, EU sanctions, Russia CPI, dividend calendars, and operational data from companies.

What Investors Should Pay Attention to by the End of the Week

The week of July 13–17, 2026, may mark a turning point for estimating the second half of the year. If US CPI and PPI confirm a slowdown in inflation, and earnings reports from banks and technology companies surpass expectations, the market will gain arguments in favor of continuing a risk-on stance. However, if inflation accelerates again and companies start to speak more cautiously about demand and margins, investors may shift toward profit-taking in overheated sectors.

1. US Inflation: CPI and PPI will set the trajectory for rates, the dollar, and bond yields.
2. Bank Reports: JPMorgan, Bank of America, Goldman Sachs, Wells Fargo, Citigroup, and Morgan Stanley will indicate the health of the US financial system.
3. China: Trade data and GDP will become indicators of global industrial demand.
4. Oil and Gas: 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 CPI are crucial 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 time of high event concentration. The optimal strategy is not to evaluate individual releases in isolation but to consider the aggregate set of signals: inflation, rates, reports, oil, China, and geopolitics. It is the intersection of these factors that will determine the dynamics of the S&P 500, Euro Stoxx 50, Nikkei 225, MOEX, commodity assets, and currencies of emerging markets in the second half of July.