Detailed Overview of Economic Events and Corporate Reports for January 24, 2026. U.S. Federal Reserve Meeting, Bank of Canada Decision, Business Activity Indicators (IFO in Germany, Durable Goods Orders in the U.S.), as well as Quarterly Results from Companies in the U.S., Europe, Asia, and Russia.
Saturday offers a breather for the markets, but investors are already gearing up for a busy business week ahead. In focus is the upcoming meeting of the U.S. Federal Reserve, whose outcome will set the tone for bond yields and the dollar's exchange rate. In Europe, attention will shift to business climate indicators: on Monday, the IFO index for Germany will be released, reflecting the mood of businesses in the region's largest economy. At the same time, fresh data on durable goods orders in the U.S. will signal the condition of the industrial sector.
On the corporate front, the earnings season continues: American industrialists, financial firms, and technology companies are reporting their results for the fourth quarter, joined by European leaders in retail and transportation, as well as select Asian corporations. Investors are keen on aligning macro and micro signals comprehensively: central bank policies ↔ yields and currencies ↔ commodity prices ↔ earnings forecasts ↔ risk appetite.
Macroeconomic Calendar (MSK)
- 12:30 — Germany: IFO Business Climate Index (January).
- 16:30 — U.S.: Durable Goods Orders (December).
U.S. Federal Reserve: Rate Decision Expectations
- The Federal Reserve will meet next week, and investors are looking for signals about the further trajectory of interest rates. Should the Fed leave the rate unchanged, attention will shift to the rhetoric in the statement and press conference: any hints of a policy easing later in the year could support the stock market, while indications of maintaining a "hawkish" stance could escalate the rise in treasury yields and pressure on high-risk assets.
- The key metric for the Fed remains core inflation in the U.S., the dynamics of which will determine the tone of comments. A reduction in inflationary pressure will strengthen expectations of a pause or even a rate cut in the future, while persistently high inflation will compel the regulator to maintain a tight policy. The Fed's decision will directly impact the dollar's exchange rate and, through the "yields – dollar" link, the valuation of technology stocks and gold prices.
Bank of Canada: Signal for Global Rates
- The Bank of Canada is also set to announce its interest rate decision in the coming days. The regulator is expected to maintain the rate at current levels, considering the stabilization of inflation and economic slowdown. However, investors will be keenly observing the accompanying statement: a more dovish tone from the Bank of Canada could indicate the approach of a rate-cutting cycle, serving as a signal for other central banks in developed countries.
- The reaction of the Canadian dollar and the bond market to the meeting's outcome is crucial not only locally but also globally. Sharp fluctuations in Canadian bond yields could transfer to the U.S. and European markets via arbitrage. Additionally, the Bank of Canada’s policy serves as a benchmark for several commodity currencies; a softer tone may bolster sentiment in emerging markets and influence oil prices positively.
U.S.: Durable Goods Orders
- The December report on durable goods orders will reveal whether industrial demand has recovered at the year's end. Previously, the metric had declined amid volatility in the aviation sector; the new data release will provide insight into investment demand trends within the U.S. manufacturing sector.
- Particular attention is paid to the component of orders excluding defense and aerospace goods—known as core capital goods orders. An increase in this indicator would signal a revival of business investments, positively impacting the stock market and the S&P 500 industrial sector. Conversely, if the statistics indicate another decline in orders, it may heighten concerns about economic slowdown and influence expectations regarding further Fed actions.
Europe: IFO Index in Germany
- The IFO Business Climate Index is a leading indicator reflecting the sentiment of about 9,000 German companies. The January release will show how businesses evaluate the current state and prospects of Germany's economy at the beginning of the year. In previous months, the index has remained at lower levels, indicating firms' caution amid high resource costs and weakening external demand.
- An improvement in the IFO value could signal that the European industrial slowdown is nearing its bottom: positive expectations from German businesses may support the euro's exchange rate and the shares of cyclically sensitive companies in the Euro Stoxx 50. Conversely, further deterioration of the metric would amplify recession fears in Europe, strengthening investor interest in German government bonds as a "safe haven."
Earnings Reports: Before Market Open (BMO, U.S. and Europe)
- Ryanair Holdings (RYAAY) — Europe's largest low-cost airline. In focus: passenger traffic during the winter season and forecasts for flight load factors in 2026. Improved financial metrics for the Irish airline may indicate a recovery in tourism activity, supporting sentiment in the airline industry.
- Bank of Hawaii (BOH) — a regional bank in the U.S. Key metrics: deposit inflow/outflow amid interest rate changes, net interest margin (NIM), and the quality of the loan portfolio. BOH's results will provide a local snapshot of the banking sector's health: stable margins and low defaults will calm investors, while decreased profitability or increased reserves for losses could reignite concerns about regional banks.
- Steel Dynamics (STLD) — a steel manufacturing company (S&P 500). Key focus: shipment volumes of steel and price dynamics for metal products. Management commentary regarding demand from the construction and automotive industries will serve as a barometer for industrial activity. Strong STLD results alongside growth forecasts could support the entire steel sector.
Earnings Reports: After Market Close (AMC, U.S.)
- Nucor Corp. (NUE) — the largest steel manufacturer in the U.S. Important metrics: operational profitability amid changing steel prices, plant utilization, and capital expenditure forecasts. As an industry leader, Nucor sets the tone for the entire steel sector: an optimistic report from the company could enhance confidence in industrial stocks, especially in light of significant infrastructure projects in the U.S.
- SoFi Technologies (SOFI) — a fintech platform providing banking and investment services. Key for investors: growth in the customer base and loan issuance volume, along with progress towards profitability. High revenue growth rates and decreased losses could elevate risk appetite in the fintech sector, while weak results will increase doubts regarding SoFi’s business model resilience.
- W.R. Berkley (WRB) — a major player in the property and casualty insurance market. Key points: claims payout levels, premium trends, and investment income from reserves placement. Insurance companies are sensitive to the interest rate cycle: an increase in investment income amidst high rates could compensate for rising loss ratios. WRB's results will offer a view of the health of the insurance sector and corporate clients' sentiment.
Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX
- Euro Stoxx 50: On January 24, there are relatively few significant corporate reports in Europe, making macroeconomic expectations the driving force for the markets. Investors are monitoring how the incoming data (IFO from Germany) and the outlook for the ECB's monetary policy will impact European stocks. The dynamics of the consumer sector and luxury industry remain a focal point: later in the week, LVMH will report, and the market will assess demand for luxury goods.
- Nikkei 225 / Asia: The third financial quarter earnings season continues in Japan; several industrial and technology companies, including automakers and electronics manufacturers, will soon release results. In China, investors are preparing for the publication of official PMI indexes, expected at the end of January — these data will signal the recovery of the Chinese economy and may influence commodity markets and currencies of emerging nations.
- MOEX / Russia: In the Russian corporate sector, there are no significant reports during this period— the peak of annual reporting for the largest Russian companies typically falls in March-April. However, some issuers are releasing operational indicators: for example, retail chains might share preliminary sales data from the holiday season, while oil and gas companies may reveal 2025 production statistics. These anecdotal releases could serve as benchmarks for the local market, although global impact remains limited.
Summary: Key Considerations for Investors
- Monetary Policy: Statements from the U.S. Fed and the Bank of Canada will be the main drivers of the week. Any surprises (for instance, a softer tone from the Fed or an unexpected move from the Bank of Canada) could prompt a reassessment of rate expectations and consequently lead to sharp movements in the bond and currency markets.
- Macroeconomic Data: The combination of U.S. durable goods order statistics and the European IFO index will set the starting backdrop for trading. Robust figures from both the U.S. and Germany will bolster hopes for a "soft landing" for the global economy, while weak reports will escalate recession discussions. Market reactions to these indicators will reflect the extent to which investors are currently data-driven and sensitive to economic signals.
- Corporate Reports: Attention is focused on results from industrial giant Nucor and several financial companies. Successful reports may shift focus from macroeconomic risks to corporate growth stories—especially if companies not only beat profit forecasts but also provide reliable guidance for 2026. Conversely, disappointments in reporting may remind investors that high rates and costs are pressuring business margins.
- Risk Management: In anticipation of significant events, it is wise to maintain caution. Investors should pre-determine their volatility ranges in which they are willing to reassess positions. Utilizing stop-loss orders, diversifying assets across currencies and sectors, as well as hedging key risks will help navigate a potentially turbulent week with reduced losses.
