Economic Events and Corporate Reports - Tuesday, January 13, 2026: U.S. CPI and Earnings Season Kickoff

Detailed Overview of Economic Events and Corporate Reports on January 13, 2026. U.S. CPI, Bank of England Governor's Speech, U.S. Housing Sales and Budget Statistics, API Oil Data, as well as Financial Results from Companies in the U.S., Europe, Asia, and Russia.

Tuesday promises a busy agenda for global markets, with investors focusing on the December inflation data from the U.S., which could set the tone for the movement of risk assets. In Europe, attention is drawn to the speech by the Governor of the Bank of England, which may influence the pound's exchange rate and sentiment in the British market. At the same time, the U.S. kicks off the *corporate earnings season* for the fourth quarter: major banks and companies will report their results, providing early guidance on the state of business economics. The energy sector will be closely watching the evening's oil inventory statistics (API), adding context following the release of macroeconomic data. It's essential for investors to evaluate indicators in combination: U.S. inflation ↔ Fed expectations ↔ bond yields ↔ currencies ↔ commodities ↔ risk appetite.

Macroeconomic Calendar (MSK)

1. 12:00 – United Kingdom: Speech by Bank of England Governor Andrew Bailey at an economic forum.
2. 16:30 – U.S.: Consumer Price Index (CPI) for December.
3. 18:00 – U.S.: New Home Sales (October figure).
4. 22:00 – U.S.: Federal budget for December (monthly Treasury report).
5. 00:30 (Wed) – U.S.: Weekly oil inventories per API data.

Key Aspects to Note in U.S. CPI

• Core Inflation (Core CPI): A key indicator for future Fed policy. Forecasts expect the core index to slow down to ~2.6% YoY; confirmation of this downward trend would strengthen expectations for easing monetary policy and support the stock market. Conversely, if Core CPI comes in above expectations, it could bolster hawkish sentiments within the Fed, raise Treasury yields, and put pressure on stocks, particularly in the tech sector.
• Price Structure: Investors will analyze the contributions of service prices (especially housing) and goods to the overall index. Slowing rent and service cost growth signals diminishing inflationary pressure within stable components. In contrast, an unexpected rise in these categories may indicate persistent inflation inertia.
• Market Reaction: Sharp movements in the U.S. dollar and bond yields are possible immediately after the CPI release. A stronger dollar amidst high CPI readings could depress commodity prices (oil, gold) and currencies of emerging markets, while softer inflation data could weaken the USD and create a favorable environment for risk assets.

United Kingdom: Speech by the Governor of the Bank of England

• Monetary Policy Tone: Andrew Bailey's remarks at 12:00 MSK will be a crucial event for the pound and the British market. If the Bank of England Governor implies that inflation in the UK remains elevated and may require further tightening of policy, this could support the GBP and the banking sector but may exert pressure on the FTSE 100. Softer, more "dovish" signals (such as confidence in falling inflation and a pause in rate hikes) would weaken the pound, although exporters and shares of British export-oriented companies would view this positively.
• Assessment of the UK Economy: Investors will also be on the lookout for hints regarding the state of the UK economy as it approaches 2026. Comments on growth rates, labor market conditions, and lending could adjust expectations for Bank of England policy. Any references to financial stability or the banking sector will be essential for understanding the regulator's risks and sentiments.

United States: Housing Market and Budget Indicators

• New Home Sales: Statistics on New Home Sales (for October) will provide additional insight into the state of the U.S. housing market. Although this indicator is lagging, the trend in new home sales reflects the impact of high interest rates on buyer demand. An improvement or stability in the figure may signal resilience in consumer demand and support the stocks of homebuilding firms, whereas a sharp decline could indicate a cooling real estate market due to expensive mortgages.
• U.S. Federal Budget: The Treasury's evening report on the budget for December will reveal the size of the deficit or surplus at year’s end. A significant deficit will remind the market of fiscal risks—rising national debt and potential increases in borrowing in the new year. While monthly budget data rarely impacts the market immediately, their analysis is crucial for long-term investors: a trend toward widening deficits may eventually exert pressure on bond yields and must be factored into 2026 strategy considerations.

Corporate Earnings: Before Market Opening (BMO)

• JPMorgan Chase (JPM): The largest bank in the U.S. will release its earnings before the session begins. Investors are eager to see how high interest rates have reflected in net interest income and the bank’s margin. Attention will be focused on lending volumes and provisions for potential loan losses: an increase in reserves may indicate management's caution regarding economic prospects. Also critical are the trading and investment banking results for JPMorgan in Q4: strong figures will suggest Wall Street's resilience, whereas weak investment banking performance will confirm the ongoing decline in M&A and IPO activity. JPMorgan's guidance on the U.S. economy and the banking sector for 2026 will be a crucial benchmark for the financial market.
• Bank of New York Mellon (BK): One of the leading global custodial banks will present results before trading begins. Key for BNY Mellon are fee income from custody and asset management services, reliant on market dynamics and institutional client activity. Investors will assess whether the volume of assets under management/custody has grown amid market volatility at the year's end. Another focus will be on interest income on client deposits: rate increases may have improved margins but could also encourage outflows to higher-yielding instruments. Management comments on the state of global markets and capital inflows/outflows will provide direction for stocks in the financial sector across Europe and the U.S.
• Delta Air Lines (DAL): One of the largest airlines in the world will report its Q4 results, including the holiday season. In its earnings, investors will look for signs of sustained consumer demand for air travel: high flight load factors and passenger volumes will indicate travel remains a priority for consumers despite economic conditions. Revenue per available seat mile (PRASM) and comments regarding ticket prices will be particularly important—reflecting the airline's ability to pass on increased costs (fuel, labor) to customers. If Delta improves its margins or provides an optimistic revenue outlook for 2026, it could bolster the entire air transportation sector. However, a cautious tone regarding business travel or costs may act as a drag on sector stocks.
• Concentrix (CNXC): The American business process outsourcing provider will report before the market opens. The company is known for its contact center and customer support services for corporations worldwide. Investors are interested in Concentrix's revenue growth amid digitalization and its merger with Webhelp (the deal was completed earlier in 2025)—synergies from the merger could have increased business scales. Profitability metrics will be scrutinized: whether the operating margin has been maintained in light of integration costs and inflation in the service sector's wages. Concentrix's demand forecast from corporate clients for 2026 will signal whether companies continue to invest in customer service and IT outsourcing, even amid economic uncertainty.

Corporate Earnings: After Market Close (AMC)

• No significant releases are expected after the close of the main session on Tuesday. The corporate calendar on the evening of January 13 is sparse—most major issuers from the S&P 500 and Nasdaq have scheduled their financial results for the coming days of the week. Thus, investors will not see substantial corporate intrigue after market close, and the news backdrop will be relatively calm.

Other Regions and Indices: S&P 500, Euro Stoxx 50, Nikkei 225, MOEX

• S&P 500 (U.S.): On Tuesday, the American stock market enters a new earnings season. Morning releases from heavyweights like JPMorgan and Delta will set the tone for the financial and transportation sectors. Since the S&P 500 index recently reached elevated levels, investors are carefully evaluating the first reports: can corporate profits justify the market's confident expectations? Additionally, the dynamics of the S&P 500 on this day will depend on CPI data—a strong earnings report from banks may shift focus from macroeconomic concerns to micro-level issues, but unexpected inflation figures could trigger market-wide fluctuations.
• Euro Stoxx 50 (Europe): There are no scheduled quarterly reports among blue-chip stocks in the eurozone for January 13. European markets will mainly orient themselves based on external factors—the reaction of markets to U.S. inflation data and signals from the United Kingdom. The absence of major corporate drivers in the euro index indicates that macroeconomic news and currency dynamics (especially EUR/USD and GBP/USD following Bailey's speech) could play a decisive role. Some local reports are worth mentioning: for instance, the British company *Games Workshop* (FTSE 250) will publish mid-year results, while the German agricultural holding *Südzucker* will report quarterly—these releases are important in their respective sectors but are unlikely to influence the wider market.
• Nikkei 225 (Japan): The Japanese market continues to release results from companies with fiscal years that differ from the calendar year. There are no significant reports from Nikkei 225 giants on Tuesday, but investors are monitoring corporate news from second-tier companies. Notably, the retail pharmacy chain *Cosmos Pharmaceutical* will present financial results for the first half of the year, reflecting consumer activity in the pharma retail sector. Overall, trading activity in Tokyo will be more influenced by the general sentiment in global markets following the release of U.S. data: the Japanese index is sensitive to shifts in risk appetite and fluctuations in the yen, so any surprises in the CPI could impact the Nikkei 225's dynamics.
• MOEX (Russia): On the Moscow Exchange, no major issuers are expected to publish financial reports on January 13—the season for quarterly and annual results from Russian companies traditionally starts later in January and February. Some activity may be observed in terms of operational updates from specific companies or board decisions regarding dividends, but these events are unlikely to have a significant impact on the MOEX index. In the absence of domestic drivers, the Russian market will likely follow global market sentiments and oil price dynamics: U.S. CPI data and external factors will set the primary direction for the ruble and the value of Russian assets on Tuesday.

Day's Conclusions: What Investors Should Pay Attention To

• U.S. CPI: The release of inflation data in the United States is the day's main trigger. Investors should prepare for a spike in volatility at 16:30 MSK: any deviation of the actual CPI from the forecast will quickly reflect on the dollar's exchange rate, yield rates, and global equity indices. Particular attention should be paid to core inflation; its slowdown may spur stock growth, while an unexpectedly high figure may lead to discussions about new Fed actions and potentially a short-term sell-off of risk assets.
• Speech by the Bank of England Governor: Andrew Bailey's afternoon remarks have the potential to shift expectations regarding UK interest rates. For investors dealing in currencies, it is important to monitor GBP's reaction: any firm comments from Bailey could bolster the pound and affect European financial stocks, while a softer tone could have the opposite effect. This speech will also provide insight into the regulators' sentiments in Europe at the year's start.
• Corporate Earnings in the U.S.: The onset of earnings season sets thematic movements within the market. Strong results and forecasts from JPMorgan, Delta, and other companies prior to the market opening may support the corresponding sectors (banking, transportation), shifting focus from macro stats to corporate narratives. However, investors should compare corporate trends with the macro backdrop: for instance, even robust bank reports may be overshadowed by negative sentiments from high CPI data, and conversely, moderate inflation may amplify positive effects from strong corporate profits.
• Oil and Commodity Prices: The oil market will receive signals from the API report on crude oil inventories (00:30 MSK Wednesday). While this indicator is preliminary, an unexpected increase or decrease in inventories can trigger price movement in oil, affecting stocks in the oil and gas sector and currencies of commodity-exporting countries. Combined with inflation data (energy component of CPI), this will help clarify the trajectory of the commodity segment. Commodity investors should stay alert after the closure of primary markets.
• Risk Management in a Busy Day: The combination of important macro data and the first significant earnings reports creates conditions for heightened volatility. It is advisable to preset tolerable fluctuation ranges for portfolios and to establish stop orders or hedging positions, especially when trading over short horizons. On such an information-rich market, avoiding excessive leverage and emotional decisions is prudent: it is better to wait for the release of key indicators and then make well-thought-out investment decisions based on facts rather than forecasts.