Key Economic Events and Corporate Reports of Wednesday, December 17, 2025: Inflation in the UK, Eurozone, and Russia, EIA Data on US Oil Stocks, Earnings Reports from Major Public Companies
Inflation in the UK: Ahead of the Bank of England's Decision
At 10:00 AM Moscow time, the data on inflation in the UK for November will be published. It is expected that the annual Consumer Price Index will remain in the 3–4% YoY range, possibly accelerating slightly from October’s figure (~3.6% YoY). Inflation in the UK has significantly decreased from double-digit peaks earlier this year, but still exceeds the Bank of England’s target level of 2%. Moderated price dynamics strengthen expectations that the Bank of England may implement its first rate cut in the past couple of years the following day (December 18). A strong slowdown in CPI would increase the likelihood of easing monetary policy, whereas an unexpectedly high inflation surge would compel the regulator to exercise caution. The market will closely monitor the morning release as it will set the tone for movements in the British pound and UK equities.
Inflation in the Eurozone: Close to Target Level
The EU statistical office will publish the final CPI index for November at 1:00 PM Moscow time. Preliminary estimates suggest annual inflation in the Eurozone was around 2.2%, slightly up from 2.1% in October. This level is nearly aligned with the European Central Bank’s target of 2%, indicating successful moderation of price growth compared to past years. Core inflation remains slightly above the overall figure (around 2.4% YoY) but also shows a declining trend. Confirmation of moderate inflation will bolster confidence that the ECB may take a pause after a series of rate hikes and maintain its current policy unchanged. Overall, stable price indicators in Europe reduce pressure on the regulator and support expectations for a gradual return of inflation to target, which is positive for European markets.
EIA Oil Stocks: Impact on Commodity Markets
At 6:30 PM Moscow time, the weekly EIA report on commercial oil inventories in the US will be released. Last week’s data reported a reduction in inventories by approximately 1.8 million barrels (after a minor increase the week before), reflecting sustained fuel demand. New figures will indicate whether this trend continues; analysts do not rule out further declines in inventories ranging from 1 to 2 million barrels, although an unexpected increase in stocks due to seasonal factors could also occur. For the oil market, this is one of the key indicators of supply and demand balance. If the report shows a significant reduction in stocks, oil prices could receive support. Conversely, an increase in inventories would exert pressure on prices, especially considering the recent market weakness – just prior, WTI dropped to $56 per barrel, reaching its lowest levels in recent months amid oversupply concerns heading into early 2026. Investors in the oil and gas sector will closely analyze the EIA publication, as it could trigger notable price fluctuations in oil and shares of commodity companies.
Inflation in Russia: Slowdown Ahead of Central Bank Decision
At 7:00 PM Moscow time, fresh data on consumer inflation in Russia will be available. For November, the year-on-year price growth in Russia significantly slowed down – officially, inflation decreased to about 6.6% YoY (down from 7.7% in October), marking its lowest point in over two years. This deceleration was even stronger than analysts had anticipated and indicates a weakening of price pressures due to stringent monetary policy and a stronger ruble in the autumn. Weekly indicators for the first weeks of December also suggest a continuation of this trend (for instance, by late November, weekly price growth had slowed to a mere 0.04%). This dynamic fosters optimism that the Bank of Russia may initiate a cycle of key rate cuts at its upcoming Board of Directors meeting on December 19. Currently, the rate stands at 16.5% per annum, and the market's baseline forecast is a reduction of 0.5 percentage points (to 16.0%). However, much depends on the current inflation data: if the new report indicates an unexpected spike in prices at the beginning of December, the central bank may prefer to wait. Investors will carefully assess the published figures, as they will directly influence the rhetoric and decision of the regulator, subsequently affecting the bond market and the banking sector.
Corporate Reports in the US: Focus on Tech and Consumer Markets
The US stock market will receive a wave of corporate news – several companies from the S&P 500 will release their earnings reports, setting the tone for relevant sectors. Some reports will be available before the US trading opens (around 2:00 PM Moscow time), while others will be released after the market closes late in the evening.
- Micron Technology (NASDAQ: MU): One of the largest semiconductor manufacturers will report its results for Q1 of the 2026 fiscal year (release expected after market close). Analysts forecast a sharp increase in results due to heightened demand for memory in artificial intelligence: consensus estimates suggest Micron's profit could reach ~$3.8 per share (up from $1.8 a year earlier), with a steady increase in revenue. Investors will pay particular attention to management's forecasts regarding the memory market and chip prices – an optimistic outlook could uplift not just Micron’s shares but also the entire tech sector.
- General Mills (NYSE: GIS): This consumer goods company will present results for Q2 of the 2026 fiscal year (before the market opens). A decline in performance is anticipated compared to the high base period of the previous year: consensus forecasts suggest a revenue decrease of about 8–9% YoY and a drop in adjusted earnings per share by approximately 25–30%. Increased competition, normalization of demand following the pandemic surge, and unfavorable currency rates are putting pressure on General Mills’ sales. Investors will be looking for signs of margin stabilization and the effectiveness of cost-cutting measures in the report.
- Jabil Inc. (NYSE: JBL): This major contract manufacturing company (EMS contractor) will publish its financial results for Q1 of 2026. As a member of the S&P 500, Jabil serves technological giants, and its figures can act as a barometer for industrial demand. The market anticipates steady results amid rising orders in electronics and electric vehicles. Jabil management's comments on the state of supply chains and demand from major clients (such as those in cloud technology and automotive sectors) will be critical for assessing the prospects of the industrial sector.
- The Toro Company (NYSE: TTC): This lawn care and irrigation equipment manufacturer will report its results for Q4 of the 2025 fiscal year. Although Toro is less known to the broader public, its results are interesting from the perspective of the construction materials and infrastructure market in the US. Analysts expect moderate revenue growth due to consistently high demand from public utilities and sports facilities; however, investors will be keen on management’s outlook for the next year. Any signs of a slowdown in demand for Toro’s products could impact valuations of companies in the industrial sector.
- Raymond James Financial (NYSE: RJF): This financial company (investment bank and brokerage) will publish operational metrics for November. The report will reveal data on commission revenues, client assets volumes, and other key metrics. These figures will provide insights into how recent fluctuations in the stock market have influenced clients’ investment activity. Strong results from Raymond James could indicate a favorable environment for brokerage houses and Wall Street banks at the year-end, while weak results would suggest cautious investor sentiment and reduced trading activity.
Europe and Asia: A Pause in Earnings Season
In European and Asian markets, no major quarterly earnings reports from large companies are expected on December 17. The earnings season for major indices in the region, such as Euro Stoxx 50 and Nikkei 225, has already concluded, so no significant corporate surprises are anticipated for the day. Investors in these markets, in the absence of fresh reports, will primarily focus on external factors – macroeconomic statistics and news backdrop. Some individual companies may hold investor days or publish operational metrics, but the impact of such events will be limited to local effects. Overall, for Europe and Asia, this Wednesday will pass relatively quietly on the corporate front, and market participants' attention will shift to global trends and inflation data.
Corporate Events in Russia
On December 17, the Russian corporate calendar also does not feature financial reports from major issuers – the quarterly report season has already concluded. No large companies in the Moscow Exchange index are reporting on this day. However, one event of interest to shareholders is that Renaissance Insurance is conducting a dividend cutoff. December 17 is the last day to be registered as a shareholder eligible for dividend payouts for the first nine months of 2025. This means that investors holding the company's shares until the end of Wednesday’s trading will be entitled to the announced dividend payments. Such corporate events typically do not have a significant impact on the market as a whole, but they are important for holders of specific securities. Otherwise, the news flow for the Russian market will be shaped by macroeconomic inflation data and external factors.
What Investors Should Pay Attention To
- Morning CPI data in the UK (10:00 AM Moscow time) and Eurozone (1:00 PM Moscow time) will set the tone for European markets and influence expectations regarding decisions by the Bank of England and the ECB on interest rates.
- EIA Oil Report (6:30 PM Moscow time) will be a key evening event for commodity markets: inventory dynamics in the US will directly reflect on oil prices and the shares of oil and gas companies.
- Corporate Reports from the US (throughout the day) may cause movements in specific sectors: strong results from tech companies (e.g., Micron) could support the Nasdaq, while weak reports from the consumer or financial sectors might negatively impact the broader market.
Investors are advised to closely monitor the publication of these data and reports throughout the day. Unexpected deviations from forecasts can intensify market volatility, but at the same time, they create opportunities for correcting investment strategies ahead of the upcoming new year.
