Publication date: October 16, 2026

In this market calendar, we discuss the key macroeconomic developments and releases that could drive financial markets in the coming week.

A look back at the past week

U.S. inflation figures set the tone for the financial markets last week. Inflation rose more than expected, leading investors to increasingly factor in another interest rate hike by the Federal Reserve (Fed) later this month. Higher interest rates make borrowing more expensive and put particular pressure on the valuations of technology and growth stocks.

On Wednesday, U.S. inflation figures for September were released. Year-over-year inflation rose from 3.4% in August to 3.7%, while economists had expected 3.6%. This increase was largely driven by higher energy prices.





More important for the Fed was core inflation, which excludes food and energy prices. This rose from 2.4% to 2.6% on a year-over-year basis, compared with an expected 2.5%. On a monthly basis, core inflation rose by 0.3%, while 0.2% had been expected. This suggests that underlying inflationary pressures are more persistent than previously assumed.

The figures reinforced expectations of a possible interest rate hike at the Fed’s October 28 meeting. U.S. bond yields rose, the dollar gained ground, and stock markets came under pressure.

On Thursday, producer prices and retail sales figures were released. Producer prices rose 1.3% month-over-month in September—
’s sharpest increase since March 2022. On a year-over-year basis, the increase rose from 5.6% to 6.3%. This points to persistent price pressures among producers, which could later feed through to consumer prices. Retail sales rose by 0.8%, well above the expected 0.3%. However, a significant portion of this increase was attributable to higher fuel prices. Excluding gas stations, sales rose by only 0.2%, indicating a more moderate trend in underlying consumer spending.

Geopolitical tensions surrounding Iran and the Strait of Hormuz also remained a key factor. Uncertainty about oil supplies kept energy prices high, thereby increasing the risk of persistent inflationary pressure. As long as energy prices remain high, it will be more difficult for the Fed to bring inflation back toward its 2% target, increasing the likelihood of further tightening of monetary policy.


Outlook for the coming week:

The coming week will be relatively quiet in terms of macroeconomic releases. The most important figures will be released on Friday, when the preliminary Purchasing Managers’ Index (PMI) figures for the eurozone and the United States are announced. In addition, attention will shift to the U.S. earnings season, with quarterly results from companies including Netflix, Tesla, and Meta Platforms.

On Tuesday, data on housing starts and building permits will be released in the United States. High mortgage rates are putting pressure on the U.S. housing market. A further weakening could signal a slowdown in economic activity, while better-than-expected figures could reinforce expectations of a prolonged period of restrictive monetary policy.

The U.S. earnings season continues this week with results from several major technology companies. Investors will be paying particular attention to revenue growth, profit margins, and outlooks for the coming quarters. Following the recent price declines in the technology sector, these figures could be decisive for market sentiment.

On Friday, the preliminary Purchasing Managers’ Index (PMI) figures for October will be released for Germany, France, the eurozone, and the United States. These figures provide an initial snapshot of economic developments in the manufacturing and services sectors. Investors will be paying particular attention to signs of slowing economic growth and persistent price pressures. Stronger figures could bolster confidence in the economic outlook but, at the same time, dampen expectations of interest rate cuts. Disappointing figures, on the other hand, could heighten concerns about economic growth.

In addition to these releases, geopolitical tensions in the Middle East and developments in the bond markets remain key areas of focus. A further rise in oil prices could increase inflationary pressure and thus put renewed pressure on the stock markets. Conversely, a stabilization of energy prices and bond yields could provide room for a recovery.


Stock Market Calendar for Week 43

Below is an overview of the most important macroeconomic releases and corporate earnings reports for the coming week. These figures may lead to increased volatility in the financial markets.

Monday, October 19, 2026:

Tuesday, October 20, 2026:

United States:

• 2:30 p.m.: Housing starts and building permits for September

• 4:00 p.m.: Pending home sales for September

• 10:00 p.m.: Netflix quarterly earnings

Wednesday, October 21, 2026:

Europe:

• 10:00 p.m.: SAP quarterly results

United States:

• 10:00 p.m.: Tesla quarterly earnings
• 10:00 p.m.: Meta Platforms quarterly earnings

Thursday, October 22, 2026:

United States:

• 2:30 p.m.: Weekly unemployment insurance claims
  
  

Friday, October 23, 2026:

Europe:

• 9:15 a.m.: France Purchasing Managers' Index for October (preliminary)

• 9:30 a.m.: Germany Purchasing Managers’ Index for October (preliminary)

• 10:00 a.m.: Eurozone Purchasing Managers' Index for October (preliminary)

United States:

• 3:45 p.m.: October Manufacturing and Services Purchasing Managers' Index (PMI) (preliminary)

Please note that publication dates and times are subject to change. For the most up-to-date information, always consult the official communication channels of the relevant institutions and government agencies.

Disclaimer: Investinginvolves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences. They are therefore intended for educational purposes only.