Detailed Overview of Economic Events and Corporate Earnings Reports on January 14, 2026. US Producer Price Inflation (PPI), Retail Sales Data, FOMC "Beige Book," China’s Foreign Trade Data, and Financial Results from Major US Banks and Other Companies in Europe, Asia, and Russia.
Wednesday sets a busy agenda for global markets: investors are focused on the December statistics for producer inflation and consumer demand in the US, which could set the tone for asset dynamics. Early in the morning, Asia will assess the data on China's foreign trade, reflecting the state of global demand for goods. In the afternoon, the Russian market will pay attention to the Central Bank of Russia's plans for foreign currency sales, which may impact the ruble's exchange rate. In the second half of the day, the US will release a block of key macroeconomic statistics (PPI, Retail Sales, Housing Market), and in the evening, the Federal Reserve will publish the "Beige Book" – an overview of economic activity across regions. Concurrently, the corporate earnings season continues: before the opening of American exchanges, three banks from the "big four" in the US will present their results, setting benchmarks for the financial sector. It is important for investors to assess macro and micro factors in combination: inflation and sales ↔ expectations for the Federal Reserve's interest rate ↔ bond yields ↔ bank reports ↔ risk appetite in global markets.
Macroeconomic Calendar (MSK)
- 06:00 – China: December foreign trade data (exports, imports, trade balance).
- 12:00 – Russia: The Central Bank of Russia will announce the volume of foreign currency sales in the domestic market for January.
- 16:30 – US: Producer Price Index (PPI) for December.
- 16:30 – US: Retail Sales (November).
- 18:00 – US: Existing Home Sales for December.
- 18:30 – US: EIA Weekly Crude Oil Inventory Report.
- 22:00 – US: Federal Reserve's "Beige Book" (economic overview by districts for January).
China: Foreign Trade Indicators and Global Demand
- December data on exports and imports from China will provide important signals regarding the state of global trade at the end of 2025. Investors will assess whether Chinese exports have stabilized after a period of decline: an increase in this figure will indicate a revival in external demand, while a continued decrease will confirm ongoing global weakness. The volume of China's imports, especially for raw materials, is also crucial: an increase in purchases of oil, metals, and other resources may indicate strengthening domestic demand and support commodity prices. A significant surplus in China's trade balance will serve as an indicator of foreign currency earnings – a factor that influences the yuan's exchange rate and indirectly affects sentiment in developing markets.
Russia: Central Bank’s Currency Sales and Ruble Rate
- The Central Bank of Russia will announce the volume of foreign currency sales at noon – a key parameter for the domestic currency market. The regulator regularly conducts such operations as part of the budget rule to smooth ruble volatility. An increase in planned currency sales may support the ruble's exchange rate, signaling authorities' intentions to stabilize the financial market and ensure budget expenditures. Conversely, if the volume of sales is modest or below expectations, it could weaken the ruble, indicating limited Central Bank intervention. Market participants will closely monitor this information, as it will set the tone for ruble pairs and sentiment on the Moscow Exchange on Wednesday.
US: Producer Price Index and Retail Sales Data
- PPI: The Producer Price Index (PPI) for December will indicate whether inflationary pressure at the producer level is still slowing. Forecasts suggest a moderate increase in PPI, as falling raw material prices and improved supply chains may have contained manufacturing costs. Especially relevant is the change in core PPI (excluding food and energy prices) – further slowing in this index would confirm the trend towards easing price pressure in the economy. For investors, PPI data will serve as one of the indicators ahead of the next FOMC meeting: weaker growth in producer prices could reinforce expectations that the Fed will refrain from further rate hikes, while unexpectedly high producer inflation could raise bond yields and exert pressure on the stock market.
- Retail Sales: Statistics on US retail sales (for November) will allow assessment of consumer demand at the start of the holiday season. The previous month (October) was sluggish, so analysts expect a rebound in November due to Black Friday and Cyber Monday sales. A robust increase in retail sales would indicate the resilience of American consumers despite high rates and prices, positively reflecting on the GDP outlook for Q4. Special attention should be given to the core categories, excluding automobiles and fuel: growth in this indicator signals a broad base of demand. Conversely, if sales disappoint again with weak dynamics, fears may intensify about consumers starting to cut back on spending due to inflation and high credit costs, potentially cooling economic growth.
US: Housing Market and FOMC "Beige Book"
- Existing Home Sales: The Existing Home Sales indicator for December will reflect the situation in this key segment of the US real estate market. Previously, rising mortgage rates and high housing prices had slowed activity: home sales dropped to multi-year lows. If December continues this trend of declining sales volumes, it will confirm that high mortgage rates are restraining buyers and cooling the housing market. However, a degree of stabilization in the market, adapting to new conditions, could be seen – in this case, stagnation or slight growth in deal numbers would be perceived as a sign of hitting the bottom. Investors monitor the housing market as an indicator of household financial well-being and an early warning signal of potential issues in the mortgage and banking sectors.
- FOMC "Beige Book": At 22:00 MSK, the Federal Reserve will publish the regional economic overview ("Beige Book"), summarizing qualitative reports from the 12 Federal Reserve districts. Although this document lacks specific figures, its tone is important for understanding business and consumer sentiments on the threshold of 2026. Investors will analyze how the Fed describes labor market conditions, price pressures, and business activity across different regions. If the report highlights signs of slowing inflation and cooling demand, it will bolster expectations for a softer policy in the future. However, mentions of persistent wage growth or labor shortages could indicate the need for further inflation fighting. Overall, the impact of the "Beige Book" is indirect, but any unexpected highlights could have a short-term effect on the currency and equity markets through adjustments in rate expectations.
Earnings Reports: Before Market Open (BMO)
- Citigroup (C): The major banking conglomerate and one of the "big four" in the US will report before the session begins. For Citigroup, which has a wide international business, investors will evaluate the results of trading and investment banking divisions against the backdrop of a capital market revival at year-end. After a lull in M&A deals and placements in 2025, a potential recovery in commission income in Q4 would be a positive signal. Also in focus will be Citi's consumer banking business and credit cards: rising interest income from high rates may have bolstered profits, but metrics related to provisioning for potential losses are also important. Citigroup's management, undergoing significant reorganization, may share updated projections for 2026 – comments from the CEO regarding the global economy and business optimization plans will set the tone for the bank's shares and the sector as a whole.
- Wells Fargo (WFC): One of the largest retail banks in the US will present results before the market opens. Attention will be on interest margins and lending volumes: how rising rates have affected Wells Fargo's net interest income and whether it has led to deposit outflows in search of higher yields. Investors are also monitoring the bank’s progress in cutting costs and resolving past regulatory issues: improvements in operational efficiency could boost confidence in management. Additionally, Wells Fargo’s report will showcase the state of US mortgage lending and consumer loans: the bank typically excels in these segments, so dynamics around new issuances and delinquency rates will provide insight into borrowers' financial health. Changes in loan loss provisioning will be taken as an indicator of the bank's expectations regarding the economic environment in 2026.
- Bank of America (BAC): Another leading American bank from the top 4 will report on Wednesday morning. Bank of America, which has one of the largest deposit bases, has significantly benefited from rising interest rates through increased interest income. However, shareholders are concerned about whether expensive money has begun to dampen lending activity: data on consumer and commercial loan volumes will show whether demand for loans remains strong. Attention will also be on BofA's trading and brokerage business, as well as asset management (Merrill Lynch): a successful quarter in the markets may have brought the bank good commissions. Comments from CEO Brian Moynihan regarding US economic prospects will be crucial for understanding sentiment in the financial sector – a positive tone and absence of recession fears will support the sector, while cautious statements may heighten investor concerns.
- Infosys (INFY): One of Asia’s largest IT companies (India) will publish its financial results before the US market opens. As a global provider of IT consulting and outsourcing services, Infosys showcases demand for technology services worldwide. Investors will analyze the company's revenue growth rate in US dollar terms: stable double-digit growth will confirm the resilience of orders from corporate clients in the US and Europe, even amidst threats of economic slowdown. Special attention should be paid to operational margins and costs: Indian IT giants face rising wages and competition, so maintaining profitability indicates effective cost control and pricing strategies. Infosys' management forecast for 2026 revenue and new contracts will serve as a barometer for the entire IT services sector, impacting both the shares of competitors in India (TCS, Wipro) and Western investors' expectations regarding corporate digitalization budgets.
Earnings Reports: After Market Close (AMC)
- On the evening of Wednesday, January 14, no major US issuers are scheduled to publish financial reports. After the main session concludes, investors do not expect important corporate surprises – most companies from the S&P 500 and Nasdaq indices have timed their releases for the following days of the week. Thus, the news background after market closure will be relatively calm, allowing participants to focus on analyzing the macro data and reports released earlier without additional distractions.
Other Regions and Indices: S&P 500, Euro Stoxx 50, Nikkei 225, MOEX
- S&P 500 (USA): On Wednesday, the US stock market is experiencing a combination of important macro releases and the continuation of the banking earnings season. Morning results from Citigroup, Wells Fargo, and BofA will set the tone for the financial sector: a successful start to earnings reports may support positive momentum, especially if restrained inflation data (PPI) is released simultaneously – this will shift investors' focus to improving corporate performance. However, high PPI or weak retail sales could temper enthusiasm, even with strong bank profits, as macroeconomic risks come to the forefront. The S&P 500 index recently reached new highs, so any combination of surprises (both pleasant and negative) could provoke heightened volatility throughout the January 14 session.
- Euro Stoxx 50 (Europe): There are no quarterly earnings publications scheduled for European blue chips on January 14, so regional markets will look for guidance from external factors. Investors in Europe are attentive to signals from the US and China: improvement in Chinese exports may support shares in the industrial sector and EU automakers, while weak data from China could dampen sentiment. European markets will also evaluate the released statistics on Eurozone industrial production for November (expected publication on that day) – although the influence of this indicator is limited, it will show the trajectory of industry ahead of the winter season. In the absence of domestic corporate drivers, the Euro Stoxx 50 will react to dynamics on Wall Street: afternoon data from the US (PPI, sales, housing market) and the tonality of the "Beige Book" may impact the euro's exchange rate, the European banking sector, and overall risk appetite on European exchanges.
- Nikkei 225 (Japan): On January 14, no earnings reports from key companies in the Nikkei 225 index are expected in Tokyo, but Asian investors will digest fresh data from China and the US. The Japanese market is sensitive to trends in global trade and the yen's exchange rate, so strong Chinese statistics could lift the shares of exporters, while unexpectedly weak Chinese exports may heighten caution. Additionally, second-tier corporate news continues: for instance, the retail chain Seven & i Holdings will publish operating metrics reflecting domestic demand in Japan. Overall, the dynamics of the Nikkei 225 on this Wednesday will largely depend on shifts in global risk appetite following the American releases: if the combination of PPI, sales, and banking reports calms the markets, then Japanese shares may continue to rise; if concerns increase, the Nikkei may shift into a defensive mode with heightened attention to the yen's exchange rate.
- MOEX (Russia): On the Moscow Exchange, no financial reporting from major issuers is expected on January 14 – traditionally, the Russian quarterly results season starts later (in late January – February). The internal news background will be set only by select corporate events (board meetings, operational reports), but they are unlikely to have an impact on the MOEX index. Thus, the Russian market will follow external benchmarks: oil price dynamics and sentiment in global exchanges. Morning signals from Asia (Chinese trade) and daytime statistics from the US will define the direction for Russian stocks. Additionally, the announced volumes of currency sales by the Central Bank will be a factor for the ruble's exchange rate: active regulator intervention may support the national currency, which will indirectly improve sentiment in the local stock market. However, the key external factor remains the situation in the energy market – the EIA report in the evening may cause fluctuations in oil prices and subsequently influence movements in the oil and gas segment of the MOEX.
End of Day: What Investors Should Pay Attention To
- Macroeconomic Data from the US: The publication of PPI and retail sales data in the US is the main trigger of the day, capable of setting market directions. Increased volatility is expected at 16:30 MSK, when these indicators will be released: a noticeable deviation from the forecasts will instantly reflect on the US dollar rate, treasury bond yields, and global stock indices. A combination of weak producer inflation and strong retail sales may support optimism (as fears regarding rates diminish while the economy remains resilient), whereas simultaneously high PPI and retail sales failures may heighten stagflation fears. It is essential for investors to quickly assess the balance between inflation risks and demand signals, as well as consider the evening "Beige Book" for a fuller picture of the US economy.
- Major Bank Earnings: Results from Citigroup, Wells Fargo, and Bank of America set the tone not only for the financial sector but for the entire earnings season. Strong profits and optimistic bank forecasts may locally outweigh macro news and trigger a rally in banking stocks, buoying the entire S&P 500. Conversely, weak points in the reports (e.g., increased reserves or slowdown in lending activity) may intensify economic condition concerns. It is advisable for investors to focus on bank management's comments regarding 2026 prospects – their assessments of consumer activity, borrower quality, and investment climate will provide valuable insight for future investment strategies.
- Chinese Indicators and Commodities: Before European trading opens, China’s export/import indicators will influence sentiment in the commodities segment and in emerging markets. If Chinese statistics exceed forecasts, this will support oil and metal prices, improve forecasts for exporting companies, and strengthen EM currencies. Conversely, weakness in China’s foreign trade may trigger commodity price declines and capital outflows from trade-sensitive markets. In conjunction with the evening EIA report on oil inventories, this data will help understand the trajectory of the commodity market: an unexpected oil inventory reduction in the US (18:30 MSK) will amplify the rise in oil prices, whereas an increase in inventories or weak Chinese exports could temporarily cool the oil market. Investors in commodities and oil and gas company shares should stay alert to price fluctuations.
- Risk Management under Multiple Drivers: The combination of several significant events (US macro data, bank reports, Chinese trade indicators) creates conditions for volatility spikes. On such a day, it is essential to maintain risk management discipline: predefine acceptable movement ranges for key positions, set stop-losses, and limit the use of leverage. For investors, it makes sense to avoid impulsive decisions during peak news noise – best to wait for the release of all key information (including the FOMC "Beige Book" at the end of the day) and analyze its cumulative impact. Mixed signals (e.g., strong reports, but weak data or vice versa) may temporarily jolt the market, so a measured approach and diversification will help navigate a busy eventful day with minimal losses and readiness to take advantage of emerging opportunities.
