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

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

This Friday, financial markets will focus the attention of CIS investors on important macroeconomic publications and corporate reports. The day promises to be eventful: from the decision of the Reserve Bank of India (RBI) and industrial production statistics in Europe to key labor market data from the United States (Nonfarm Payrolls) and a series of reports from large companies. Below we will review the main events of February 6, 2026, their expected indicators, and potential market impact. By the end of the day, investors will need to evaluate the publication results to adjust their strategies. This brief overview will help prepare for these events and understand what to expect in the markets.

EU: Possible Trade Tariffs Against the US

Amid ongoing trade tensions between the EU and the US, investors are monitoring the situation surrounding potential tariffs. Earlier, the US considered imposing a 10% tariff on a range of goods from Europe (potentially increasing to 25%) due to disagreements over Greenland, but unexpectedly withdrew this threat in January. The EU, on its part, prepared retaliatory measures – specific tariffs of 10%, 25%, and 30% on American goods (such as motorcycles, jeans, meat, etc.), which could take effect as early as February 7, 2026. After the US softened its position, the EU delayed the implementation of these tariffs for six months. However, the possibility of a resumption of tariff confrontations remains a risk factor. If rhetoric intensifies again, European stock markets may experience tension. For now, no new measures have been announced for February 6, and it is likely that both sides will continue discussions in line with the July trade agreement, which stipulates a maximum tariff of 15% and a phased liberalization of trade. Investors should consider these geopolitical factors, although direct actions may not occur on that day.

India: RBI Rate Decision (07:30 MSK)

Early Friday morning, the decision of the Reserve Bank of India (RBI) on the interest rate will be announced. The meeting of the Indian regulator attracts attention as the Indian economy shows strong growth and inflation stabilizes. Analysts forecast that the RBI is likely to keep the key repo rate at the current level of 5.25%. Recall that throughout 2025, the Indian central bank cut the rate by a total of 125 basis points, including a recent cut of 0.25 percentage points in December to 5.25%. Economists note that the easing cycle is likely complete – the regulator prefers to wait and assess the effects of previous stimulus measures. The decision will be announced at 10:00 Indian time (07:30 MSK) after a three-day meeting. The markets price in the “pause” of the RBI: maintaining the rate may support the rupee and Indian equities, while an unexpected move (such as additional cuts) would be 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 clarify.

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 an increase of +0.8% month-on-month, better than expected, owing to a revival in the automotive industry and mechanical engineering, although the energy sector lagged. However, in December, economists expect a slight decline in production due to weakening external demand. The consensus forecast for monthly industrial output in Germany is around -0.3% month-on-month (after growth of +0.8% in November), although some models predict a small increase of about +0.3%. Year-on-year rates may also approach zero or be negative, considering last year's high base and operational interruptions during the holidays. For the euro market and European stocks, this data serves as an indicator of the health of the largest economy in the EU. If the statistics exceed expectations (e.g., growth continues due to high orders – in December, factory orders in Germany unexpectedly jumped by +7.8% month-on-month), this will support the euro and sentiment on European exchanges. Otherwise, weak industrial production will heighten concerns about the eurozone's economic slowdown.

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

The day’s main macro event is the publication of the US labor market report for January 2026. Traditionally, the January NFP (Nonfarm Payrolls, number of new jobs outside agriculture) release garners heightened attention from the Fed and investors, and this time it attracts even more interest due to expected data revisions and a contracting hiring trend. According to consensus forecasts, employment in January increased by approximately +70,000 jobs – slightly above December's modest result (~50,000), but significantly below last year's average growth rates. Major banks, such as BofA, are even more cautious, predicting around +45,000 new jobs, indicating a 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 decreased to 4.4% from 4.5% in November, despite a modest rise in employment of just 50,000. Analysts will meticulously analyze the report details: sectors that contribute to job growth or reduction, the dynamics of average hourly earnings, and revisions of previous months. Even with a modest NFP growth of around 50,000-70,000, the figure could be seen as a weak signal of a cooling US economy. For markets, this may mean a reassessment of the Fed’s policy expectations – a weak report would increase the likelihood of a softening stance from the regulator and put pressure on the dollar, while an unexpectedly strong hiring jump would be a surprise capable of boosting bond yields and strengthening the dollar. Currently, 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.

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

Closer to the evening, at 18:00 MSK, preliminary data from the University of Michigan Consumer Sentiment Index for February will be released. In the previous month (January), American consumers were slightly more upbeat: the final index rose to 56.4 points, compared to 52.9 in December, reaching a five-month high. It is expected that in February, the sentiment may slightly decline – the consensus forecast is around ~55 points amid persistent inflation and uncertainty. Alongside the sentiment index itself, the survey data on Americans' inflation expectations are significant. In the January report, short-term (one-year) inflation expectations notably dropped to 4.0% – the lowest level since January 2025, although still above pre-pandemic levels. Long-term (five-year) expectations, on the contrary, ticked up slightly – from 3.2% to 3.3%, remaining above the 2.8%-3.2% range observed in 2024. Such indicators suggest consumers expect a slowdown in inflation over the coming year but are not confident in a return to target levels in the long term. If the February survey indicates further declines in inflation expectations and stability in the sentiment index, this would be a positive signal for the Fed (evidence of strengthening “anchors” of expectations) and for the markets, as it reduces the necessity for aggressive central bank actions. Conversely, an unexpected spike in inflation expectations could alarm market participants. Investors will closely watch these data as they influence interest sentiment and consumer activity.

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

In the evening, Rosstat will publish a block of important macro statistics on the Russian economy. Firstly, the preliminary GDP estimate for Q4 2025 will be released. According to officials, the Russian economy grew by approximately 1% in 2025, slowing down after a rapid recovery in 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 rise of 0.6% year-on-year was recorded. Thus, close to zero growth rates are expected in the fourth quarter – likely between 0% and +0.5% year-on-year – reflecting a general picture of stagnation amid external constraints and the depletion of post-COVID recovery effects. Investors will evaluate how closely the actual figures align with these estimates. Secondly, data on industrial production for December will be published. At the end of the year, the Russian industry began to show signs of weakening dynamics: in November, output fell by 0.7% year-on-year following a growth of 3.1% in October, which was worse than expected (predicted +1.2%). Preliminary estimates for December are also cautious – consensus anticipated a decline of around 1% year-on-year. If actual figures show a decline close to these values, it will confirm the trend of industrial slowdown by the year's end. Markets are separately tracking the situation in the oil and gas sector and manufacturing: preliminary data indicate that output in the manufacturing sector grew approximately by +2.8% for the entire year of 2025, while extraction may have decreased. The reaction of the Russian stock market and the ruble to the statistics will be limited as the figures are close to expectations. However, important signals for domestic policy include the sustainability of GDP growth at a low level (around 1%) and the readiness of the industry for further challenges. Investors should note that macro factors in Russia are currently often secondary compared to geopolitical ones, but unexpected deviations in statistics may impact the ruble exchange rate and local stock prices in the short term.

Corporate Reports for February 6, 2026

In addition to macroeconomics, the corporate reporting season will continue on February 6 across different regions. On this day, companies from the US, several European countries, and Asia will present their financial results. Below we have compiled key issuers reporting, including their ticker, sector, report release time, and main market expectations.

US (S&P 500 and others): Key Reports

* Time is indicated in Moscow time (MSK). In the US, most reports on February 6 will be released before the market opens (BMO – before market open), as this is a Friday.

Among the highlighted American issuers, investors should pay special attention to Biogen's report – the pharmaceutical company presents its Q4 2025 results and the full year. A nearly 10% decline in revenue (to ~$2.2 billion) and earnings per share down to ~$1.60 are expected amid declining sales of older MS drugs and market competition. Comments from Biogen's management regarding new drugs and outlook for 2026 will be pivotal. Another interesting release is Centene: the insurer is likely to show a sharp revenue increase (+18% year-on-year) due to the expansion of Medicaid programs, but due to one-time expenses, a net loss may occur in the quarter. This may impact the company's shares, although operational trends are positive. Under Armour will close the week with its report: investors hope to see stabilization in sports apparel sales after a challenging year. The consensus for Under Armour is a small loss (~$0.02 per share) with revenue around $1.55 billion, and any deviation could significantly impact the shares, given the retail sector's volatility. AutoNation (sales dynamics and dealer business margins are under scrutiny, stable performance is expected), Cboe (growth in derivatives trading revenues, consensus on earnings of $2.9/share), among other companies, will also report. 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 allow assessing the health of various sectors – from biotech to consumer goods.

Europe (Euro Stoxx 50): Reporting Situation

In Europe, February 6 will be a relatively quiet day in terms of the corporate reporting of major companies. Investors' focus will be more on macro statistics (as discussed above) and the outcomes of reports already published the day before from several giants (such as Shell and BNP Paribas, which reported on February 5). None of the companies on the Euro Stoxx 50 index have scheduled their financial reports for February 6. This is explained by the European reporting season's schedule: most leading corporations in the Eurozone disclose their Q4 results later in February or early March. However, some second-tier companies will present their data. For instance, Norwegian telecommunications operator Telenor ASA will release its Q4 2025 report in the morning, and Swedish real estate companies Balder and Hoist Finance will report in the afternoon. Although these firms do not belong to the Euro Stoxx 50, their results might shed light on the state of their respective sectors in Europe – telecom and real estate. Overall, the European stock market on February 6 will look towards external signals (from the US and Asia) and the dynamics of economic indicators, with low volatility from corporate news expected. Investors in European stocks should prepare for the main flow of annual reports closer to mid-month, but it is important to keep abreast of any corporate announcements or warnings.

Asia (Nikkei 225): Key Japanese Companies

In the Asian region, the end of the week will be marked by the release of reports from several large 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 vital for assessing the state of the automotive industry: a profit increase for Toyota is expected, thanks 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 segment. Additionally, other Nikkei heavyweights are expected to report that day, such as the financial conglomerate Mitsubishi UFJ Financial Group (MUFG) and tech giant Sony Group, completing their weekly reporting block (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 the expectations of positive results: many corporations raised their forecasts against a backdrop of a weaker national currency and domestic demand. If the reports meet expectations (for Toyota, the consensus anticipates an increase in operating profit and confirmation of the annual sales forecast), shares of these companies and the Nikkei 225 index will receive support. Investors in Asian assets are also advised to keep an eye on telecoms – for instance, Advanced Info Service (AIS) from Thailand will publish quarterly results early in the morning, potentially setting the trading tone in Southeast Asia. Overall, on February 6, Asian markets will react not only to local reports but also to the overall sentiment shaped by the overnight data from the US and Europe.

Russia (MOEX): Corporate Calendar

On the Russian market, no financial reports from major issuers are expected on February 6. Annual and quarterly results from companies listed on the Moscow Exchange index (MOEX) typically come later – generally in March-April (annual IFRS) or after the end of the quarter. Thus, neither Sberbank, Gazprom, nor other "blue chips" will provide new data on that day. However, investors should keep in mind that some companies may publish operational production figures for January or provide year forecasts during industry events. Additionally, the corporate backdrop in Russia on February 6 will be shaped by external news: dynamics in oil and metal prices, as well as global risk appetite trends. Therefore, it can be said that for the Russian stock market, this day will be focused on macroeconomic statistics (GDP and industry, as discussed above) and external signals rather than internal corporate drivers. MOEX investors should use this relatively quiet patch in the reporting calendar to prepare for the start of the Russian financial reporting season in spring and evaluate the fundamental ratios of Russian stocks ahead of upcoming releases.

Conclusion: What Investors Should Pay Attention To

February 6, 2026, brings together several themes that could influence market sentiment. Investors should evaluate the outcomes of the RBI’s decision and the 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 second half of the day. In the evening, important benchmarks from Russia will appear, although their influence will be more localized. The corporate section is less packed than in previous days of the week, but the reports from companies like Biogen, Under Armour, and Toyota will serve as indicators of the health of their sectors. By evenly distributing attention between macro and microeconomic factors, investors can react in a timely manner to the information released. The key advice is to monitor deviations of actual data from forecasts: unexpected surprises (such as a sudden spike in US unemployment, a sharp change in inflation expectations, or an unexpectedly strong/weak corporate report) typically provoke the most intense market reactions. May this Friday be productive for you – adequately prepared, you will meet it well-equipped and capable of making sound investment decisions.