Economic Events and Corporate Reports - Tuesday, January 6, 2026: Services PMI, Germany CPI, API oil Inventories

Detailed Overview of Economic Events and Corporate Reports on January 6, 2026: Service PMI, Germany’s Inflation, API Oil Inventories, Ukraine Meeting, and Company Reports from the USA, Europe, Asia, and Russia.

The first working Tuesday of the new year is packed with crucial data for investors worldwide. The focus will be on service sector activity indexes (PMI) for December across several key economies—from Australia and India to the Eurozone, the UK, and the US. In Europe, the release of inflation data for Germany stands out: the price dynamics in the largest economy in the EU will help assess the next steps for the European Central Bank. Concurrently, the geopolitical agenda will be underlined by a high-level meeting of the Ukrainian allies coalition in France, the outcomes of which could influence market risk appetite. On the corporate front, earnings season continues: while early January typically lacks significant releases, investors will monitor the results from several companies in the US, Asia, and other regions, which may set the tone for specific sectors. In sum, the combination of macroeconomic statistics and corporate news on Tuesday will provide the first benchmarks for global markets in 2026. It is crucial to analyze the indicators holistically: robust PMIs will signal economic health, while slowing inflation will support bonds and stocks, whereas geopolitical decisions may adjust the dynamics for commodities and currencies.

Macroeconomic Calendar (MSK)

1. Throughout the day – France: High-level meeting of Ukraine’s ally nations ("coalition of the willing").
2. 01:00 – Australia: Service PMI for December.
3. 08:00 – India: Service PMI and Composite PMI for December.
4. 11:55 – Germany: Service sector PMI / Composite PMI (December).
5. 12:00 – Eurozone: Final estimates of Service PMI and Composite PMI (December).
6. 12:30 – UK: Final Service PMI and Composite PMI (December).
7. 16:00 – Brazil: Service PMI and Composite PMI (December).
8. 16:00 – Germany: Consumer Price Index (CPI, December).
9. 17:30 – Canada: Service PMI and Composite PMI (December).
10. 17:45 – USA: S&P Global Services PMI and Composite PMI (December).
11. 00:30 (Wed) – USA: Weekly oil inventories data from the API.

Global Service PMIs: Signal of Growth Rates

The December Service PMIs will provide a comprehensive view of the global economic status at the end of 2025. It is crucial for investors to assess whether the service sector remains resilient, which often compensated for industrial weakness last year. In the Asia-Pacific region, Australia’s data may reflect the impact of tourism recovery and domestic demand, whereas India, traditionally showcasing high growth rates, is likely to remain comfortably above the 50-point expansion threshold. The final European PMIs (Germany, Eurozone, UK) will either confirm or adjust preliminary estimates: an improvement in service sector activity in December will boost hopes for a soft landing for the economy, while a decline in PMI may indicate persistent pressure from high rates on business and consumers. In the US, the PMI from S&P Global will complete the overall picture: if the index rises, it will indicate strong demand in the service sector and support the stock market, while signals of slowing activity may enhance expectations for a softer Fed policy. Overall, synchronized growth in service PMIs across various countries will act as a positive driver for global markets, benefiting cyclical stocks and emerging markets, while mixed or weak data may increase interest in defensive assets.

Germany: Is Inflation Slowing Down?

Investors in Europe will focus on Germany’s CPI for December—a key indicator for assessing inflationary pressures in the Eurozone. Previous months have shown a decline in Germany’s annual inflation toward the target 2–3%, and new data will confirm whether this trend is sustained. A slowdown in price growth in December (especially in food and energy components) will strengthen expectations that the European Central Bank will refrain from new rate hikes: this would be a positive signal for markets, supporting German government bonds (Bunds) and the DAX stock index. Conversely, unexpected acceleration in inflation may alarm investors: an increase in CPI beyond forecasts could revive discussions regarding the need for further tightening by the ECB, typically putting pressure on European stocks and leading to a rise in bond yields. Particular attention will be paid to core inflation (excluding energy and food prices), reflecting internal price pressures within the service sector and wages. The data from Germany will also set the tone ahead of the overall inflation statistics for the Eurozone: markets will evaluate the prospects for the euro and the dynamics of Euro Stoxx 50 through the lens of German figures.

Oil and Commodities: Focus on Inventories and Geopolitics

Energy prices on Tuesday may be influenced by two factors: weekly oil inventory statistics in the US and international political developments. On Wednesday, data from the American Petroleum Institute (API) regarding commercial oil and petroleum product inventories for the past week will be released. Previous API reports indicated volatility in inventories at year-end—from significant reductions due to escalating export demand to unexpected stock accumulations. If the new data reveal a substantial decrease in oil inventories, this will support Brent and WTI prices, signaling sustained demand and limited market supply. Conversely, if inventories increase, this could short-term weaken oil prices, heightening concerns regarding oversupply or declining demand. An additional factor on Tuesday will be the above-mentioned meeting of the “coalition of the willing” regarding Ukraine: any escalatory statements or new sanctions could impact commodity markets, particularly the oil market and gas prices, taking into account Russia’s role and that of allied countries in global energy supply. Overall, commodity investors will need to pay attention to both the API figures and news from the realm of high politics on this day.

Geopolitics: Meeting of Ukraine Allies Coalition

A high level of geopolitical activity on Tuesday will be represented by a summit in France involving countries from the "coalition of the willing" supporting Ukraine. This diplomatic forum, gathering leaders and senior representatives from key Western countries, aims to coordinate further military and financial assistance for Ukraine, as well as discuss strategy amid the ongoing conflict. For financial markets, the outcomes of the meeting are crucial concerning overall risk appetite: confirmation of unity among allies and an expansion of support could bolster investor confidence in the stability of the situation in Europe, indirectly supporting the euro and assets of emerging markets in the region. However, should disagreements arise during the meeting or no concrete decisions be made, this could heighten geopolitical uncertainty. News from Paris may particularly influence companies in the defense sector (in the event of new arms supply contracts being announced) and commodity markets, especially if sanctions against energy resources are discussed. Investors will be closely monitoring statements from summit participants and the willingness of countries to intensify sanction pressure or, conversely, hints at possible pathways to conflict resolution.

Earnings Reports: Before Opening (BMO, USA, and Asia)

• RPM International (RPM) – an American manufacturer of construction materials and coatings. Investors are expecting the report for the last quarter of the 2025 financial year: the focus will be on the margins of the construction chemicals and finishing materials segments amid fluctuations in raw material prices. Positive forecasts regarding demand in construction and renovation could support the shares not only of RPM but also of the entire industrial materials sector.
• Takashimaya Co. (8233.T) – one of the largest department store chains in Japan. The company will present results for the pre-holiday quarter, which includes the sales season and New Year shopping. Key metrics include growth in comparable sales in major cities and dynamics in consumer demand within offline retail. Investors will also be keen on management comments regarding tourist flows and the recovery of domestic consumption in Japan.
• Lindsay Corporation (LNN) – a producer of irrigation systems and agricultural equipment (USA). The company's report will provide insight into farmers' capital investments amid volatile agricultural commodity prices. Special attention will be paid to the volume of new orders for irrigation systems and infrastructure projects, as well as profitability considering the rising costs of raw materials and logistics.
• AngioDynamics (ANGO) – an American medtech firm specializing in equipment for minimally invasive surgery and therapy. In the financial results for the quarter, analysts will aim to see signs of improved sales from key product lines and reduced losses. Focus will be on revenue growth rates in oncology and vascular surgery segments, as well as an updated profitability forecast from management.
• AZZ Inc. (AZZ) – an industrial group from the USA working in the energy and utility equipment sector, as well as in metal protection services (hot-dip galvanizing). AZZ’s report will serve as an indicator of activity in infrastructure projects and the energy sector. Investors will evaluate the volume of orders for electrical equipment and metal structures, along with profitability dynamics in light of the implementation of federal infrastructure modernization programs.

Earnings Reports: After Market Close (AMC, USA)

• AAR Corp. (AIR) – an American company providing maintenance and supply services in the aerospace sector. AAR’s quarterly report will indicate how confidently the civil aviation is recovering: a rise in revenue from aircraft maintenance and parts supply indicates increased activity among airlines. Management comments on defense contracts and the state of its clients—the Air Force and other government agencies—will also be important.
• Penguin Solutions (PENG) – a technology company specializing in high-performance computing solutions (HPC), corporate server platforms, and memory components. Although Penguin Solutions belongs to the mid-cap category, its results are interesting regarding trends in artificial intelligence and cloud computing. The market will be looking into revenue from the data center solutions segment and business margins amid high demand for AI and data storage equipment.
• Saratoga Investment Corp. (SAR) – an investment company (BDC) providing financing to middle-market businesses in the USA. Saratoga Investment’s report after market close may give signals about the credit market's condition: the dynamics of net investment income and the volume of loans issued will reflect both companies' capital needs and the quality of the credit portfolio. Investors will also pay attention to the BDC’s dividend size, which is sensitive to changes in profits.

Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX

• Euro Stoxx 50: For leading European companies, no major individual reports are expected on January 6, so macro data will set the tone for trading in the Eurozone. Composite Service PMI and inflation data from Germany will shape expectations for the EU economy, influencing the banking sector and consumer companies. The euro and pound rates may respond to the statistics, impacting the region's exporters. Overall, the European market will evaluate how confidently the region is exiting the winter period of restrained growth.
• Nikkei 225 / Japan: The Japanese stock market is on the brink of the main earnings season for the third quarter of the financial year. Although most major Japanese corporations will publish results closer to the end of January, some releases are already attracting attention. Specifically, the performance of retailers like Takashimaya will provide an early signal of consumer activity during the holiday season. Additionally, external factors, including the yen's dynamics and PMI data from China, may influence investor sentiment in Tokyo. The Nikkei 225 will react sensitively to the technology sector: any news regarding demand for electronics and semiconductors will dictate direction for high-tech blue chips.
• MOEX / Russia: The Russian stock market resumes operations after an extended New Year holiday, so investor activity on January 6 may be lower than usual. No significant corporate reports from issuers within the MOEX index are expected on this day: traditionally, the release of financial results for the full year of 2025 will start later, in January-February. Nevertheless, external benchmarks—global oil prices and global market sentiment—will be key for Russian stock dynamics and the ruble rate. Certain companies may disclose operational metrics for December (e.g., production volumes from oil and gas producers or sales figures from retailers), giving local investors additional reasons for reevaluating positions. Overall, the MOEX enters the new year under the influence of external factors and geopolitical rhetoric, maintaining focus on commodity trends and the monetary policy of the Central Bank of Russia.

Day's Summary: What Investors Should Pay Attention To

• Service PMIs Worldwide: Synchronized improvements in service sector activity indexes (especially in the Eurozone, the UK, and the US) will act as a positive signal for stock and commodity markets. However, weak figures in specific countries may intensify discussions about recession risks—potentially increasing interest in bonds and defensive assets.
• Inflation in Germany: The CPI figures for December will set the tone for expectations regarding ECB policy. Soft inflation data (below forecasts) could bolster European bonds and weaken the euro, supporting shares in rate-sensitive sectors (real estate, auto lending). Conversely, unexpected inflation spikes may put pressure on the Euro Stoxx 50 and locally strengthen the euro on Forex.
• Oil and Commodities: The API report on oil inventories may spur price movements for energy resources during the Asian and European sessions on Wednesday. Investors in oil and gas companies should be prepared for volatility: a reduction in inventories will strengthen Brent prices and shares in the oil and gas sector, while increasing inventories or negative news from the Ukrainian summit may weaken the oil market.
• Geopolitical News: The outcomes of the coalition meeting on Ukraine in France will have a delayed impact. Any statements about expanding support or, conversely, disagreements among allies may reflect on European markets and the euro rate. Additionally, an intensification of sanctions rhetoric may affect commodity markets (oil, metals) and stocks related to these sectors.
• Corporate Earnings: Among the day's releases, RPM International (an indicator for the construction sector) before the market opens and AAR Corp. (aviation sector) after the market closes are of particular interest. Their results and forecasts may locally influence corresponding sector indices. Investors should also focus on the technological aspects of reports (e.g., data from Penguin Solutions in the HPC segment) and consumer demand signals from Asia (sales from Takashimaya)—these factors will help adjust strategies at the start of the new year.
• Risk Management: Given the abundance of mixed events—from macroeconomic data to geopolitics—January 6 may bring increased market volatility. It will be prudent for investors to pre-determine key levels for their positions and utilize protective instruments (stop orders, hedging), while also avoiding excessive risks ahead of the release of the most vital indicators. Balancing between PMI data, inflation, and news, diversification should be maintained while monitoring the correlation of assets in the portfolio.