Alibaba and Facebook among market cap stock movers on Thursday

As traders approach another pivotal day for financial markets, a series of crucial economic data releases that could sway market dynamics are expected on Friday, January 23, 2026. The spotlight will be on the Services PMI and Manufacturing PMI figures, both key indicators of economic health across different sectors. These releases will provide valuable insights into business activity and could significantly influence market sentiment heading into the weekend.

Major Economic Events to Watch

• 9:45 AM ET - Services PMI (Forecast:52.9, Previous: 52.5): This monthly release from Markit Economics surveys over 400 executives in private sector service companies. A reading above the 50 threshold indicates expansion in the service sector, which could be bullish for the USD if it exceeds expectations.

• 9:45 AM ET - Manufacturing PMI (Forecast:51.9, Previous: 51.8): This measure of purchasing manager activity in the manufacturing sector provides early signals about economic performance. Readings above 50 indicate expansion, and a stronger-than-expected figure would typically support the USD.

Other Important Economic Events to Watch

• 9:45 AM ET - S&P Global Composite PMI (Previous:52.7): A comprehensive measure combining both manufacturing and services sector activity to provide a broader view of economic conditions.

• 10:00 AM ET - Michigan Consumer Sentiment (Forecast:54.0, Previous: 54.0): This University of Michigan index gauges consumer confidence by surveying approximately 500 consumers about their financial outlook.

• 10:00 AM ET - Michigan Consumer Expectations (Forecast:55.0, Previous: 54.6): The forward-looking component of the Michigan sentiment index, reflecting consumers’ outlook for the next six months.

• 1:00 PM ET - Baker Hughes U.S. Rig Count (Previous:410): A key indicator for the oil drilling industry that signals demand for oil products and services.

• 1:00 PM ET - U.S. Baker Hughes Total Rig Count (Previous:543): A broader measure including all active drilling rigs across the United States.

• 3:30 PM ET - CFTC Crude Oil speculative positions (Previous:58.1K): Weekly data showing speculative positioning in crude oil futures markets.

• 3:30 PM ET - CFTC Gold speculative positions (Previous:251.2K): Reveals positioning trends among speculative traders in gold futures.

• 3:30 PM ET - CFTC Nasdaq 100 speculative positions (Previous:29.1K): Shows speculative positioning in Nasdaq 100 futures contracts.

• 3:30 PM ET - CFTC S&P 500 speculative positions (Previous:-122.1K): Indicates market sentiment through speculative positioning in S&P 500 futures.

Other Economic Events to Watch

• 10:00 AM ET - US Leading Index (Previous:-0.3%): A composite index designed to signal peaks and troughs in the business cycle.

• 10:00 AM ET - Michigan Current Conditions (Forecast:52.4, Previous: 50.4): Measures consumers’ assessment of current economic conditions.

• 10:00 AM ET - Michigan 1-Year Inflation Expectations (Forecast:4.2%, Previous: 4.2%): Reflects consumers’ expectations for inflation over the next year.

• 10:00 AM ET - Michigan 5-Year Inflation Expectations (Forecast:3.4%, Previous: 3.4%): Indicates longer-term inflation expectations among consumers.

• 10:30 AM ET - Dallas Fed PCE (Previous:1.90%): A measure of core inflation that trims extreme price changes to provide a clearer signal of underlying inflation trends.

• 3:30 PM ET - CFTC Aluminium speculative net positions (Previous:-3.3K): Shows positioning in aluminum futures markets.

• 3:30 PM ET - CFTC Copper speculative positions (Previous:53.4K): Reveals speculative positioning in copper futures.

• 3:30 PM ET - CFTC Silver speculative positions (Previous:32.1K): Indicates market sentiment in silver futures markets.

• 3:30 PM ET - CFTC Natural Gas speculative positions (Previous:-185.6K): Shows positioning trends in natural gas futures.

• 3:30 PM ET - CFTC Wheat speculative positions (Previous:-86.0K): Reveals speculative positioning in wheat futures markets.

• 3:30 PM ET - CFTC Corn speculative positions (Previous:-33.4K): Shows positioning in corn futures.

• 3:30 PM ET - CFTC Soybeans speculative positions (Previous:58.9K): Indicates market sentiment through soybean futures positioning.

For further information and the latest updates, please refer to our Economic Calendar, here

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Earnings season continues, below we highlight companies expected to report earnings the next trading day so you can prepare for the action. Leading the charge on Friday, January 23, are oil services giant Schlumberger, telecommunications equipment provider Ericsson, and regional banking powerhouse First Citizens Bancshares, along with several other notable firms across diverse sectors.

Earnings Before the Open:

• Schlumberger Ltd (SLB) - EPS estimate: $0.7398, Revenue estimate: $9.55B

• Ericsson L M Tel Co-Exch (ERIC) - EPS estimate: $0.1887, Revenue estimate: $7.13B

• First Citizens Bancshares (FCNCA) - EPS estimate: $43.99, Revenue estimate: $2.21B

• Booz Allen Hamilton Holding Corp (BAH) - EPS estimate: $1.29, Revenue estimate: $2.76B

• Webster Financial Corp (WBS) - EPS estimate: $1.53, Revenue estimate: $731.51M

Earnings After the Close:

No companies scheduled to report after market close.

Check back daily for updates and insights into the earnings season and track real-time results at Investing.com’s Earnings Calendar and Headlines section. Do you want to trade the earnings of the biggest companies like a pro? Then get InvestingPro now and access over 1000 metrics that will give you a significant advantage in the shark tank that is Wall Street. Click here.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.