Economic Events and Corporate Reports: Sunday, August 2, 2026 — OPEC+ Meeting on Oil Production, Berkshire Hathaway Report, and the Start of a New Trading Week
Sunday, August 2, 2026, marks a rare weekend when global markets receive a full pricing signal. Although stock exchanges are closed, today seven key OPEC+ countries are conducting a virtual meeting to discuss oil production quotas for September—an event that will determine the dynamics of Brent prices and the oil and gas sector stocks when trading opens on Monday. Concurrently, investors are analyzing Berkshire Hathaway's quarterly report, traditionally released on the first weekend of August, and preparing for a busy week ahead: with ISM indexes, the U.S. labor market report, and dozens of corporate releases from companies within the S&P 500, Euro Stoxx 50, Nikkei 225, and Moscow Exchange index. We'll dive into the key economic events and corporate reports for today and the upcoming week.
OPEC+ Meeting: The Main Economic Event of the Day
The central event of Sunday is the online meeting of seven major OPEC+ producers: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. The ministers will assess the state of the global oil market and reach a decision on production levels for September.
Market Scenarios for Oil
- Main Scenario: An increase of approximately 188,000 barrels per day—this would be the fifth consecutive step ending the voluntary cuts of 1.65 million barrels implemented in 2023.
- Signal of a Pause: The proposal to freeze production quotas from October 2026 through January 2027 is under discussion, which would maintain approximately 2 million barrels per day in restrictions and provide support for prices.
- Hard Scenario: A hint at further production increases beyond September would intensify pressure on Brent prices and the stocks of oil companies.
The outcomes of this meeting will directly impact the shares of ExxonMobil, Chevron, Shell, TotalEnergies, as well as Rosneft, Lukoil, and Gazprom Neft on the Moscow Exchange. For the Russian Ruble and the budgets of exporting countries, the cartel's decision remains a key factor for August.
Oil and Geopolitics: The Background for the Cartel's Decision
The OPEC+ decision is being made under unusual conditions. Exports through the Strait of Hormuz are gradually recovering from the conflict surrounding Iran, causing the actual production of several Middle Eastern producers to remain below permitted quotas—paper increases in targets do not always translate into real barrels. An additional structural shift is the UAE's exit from OPEC after nearly six decades of membership, altering the balance of power within the alliance. In such a configuration, even a formal increase in quotas may coincide with physical supply shortages in certain directions.
Berkshire Hathaway: Insights from the Q2 Report
Another storyline for the weekend is Berkshire Hathaway's Q2 2026 report, traditionally unveiled in the first days of August, allowing the market time for analysis before the stock exchanges open. Consensus estimates projected revenue of about $95.3 billion and earnings per B share of approximately $5.24. Points of focus for investors include:
- The size of the cash cushion and the pace of stock buybacks as an indicator of management's attitude towards market valuations;
- The margin of the insurance business GEICO in light of rising payouts and customer acquisition costs;
- The first quarters under Greg Abel's leadership and the integration of the acquisition deal for the builder Taylor Morrison Home worth $8.5 billion;
- The dynamics of the insurance float, which exceeded $176 billion.
Berkshire stock has underperformed compared to the S&P 500 this year due to the shrinking "Buffett premium" and minimal exposure to the tech sector, so the market’s reaction to the figures on Monday could be pronounced.
Asia: Signals from South Korea and Awaiting China's PMI
The recently published trade statistics from South Korea for July remain a crucial reference point for global trade: the export dynamics of semiconductors from Samsung and SK Hynix set the tone for chipmaker stocks ranging from TSMC to Nvidia and influence sentiment within the Nikkei 225 index. On Monday, August 3, the Purchasing Managers' Index (PMI) for China's manufacturing sector from RatingDog (formerly Caixin) will be released—a private measure of the state of small and medium-sized enterprises in China, sensitive to U.S. tariff policies. Weak data will heighten expectations for new stimulus from Beijing.
U.S. Tariff Policy: An August Risk Factor
The trade agenda continues to be a source of volatility in global markets. Investors are paying close attention to August 19—the date when 50 percent tariffs on a wide range of Canadian goods will come into effect, alongside the 25 percent tariff on imports from Brazil. The escalation of restrictions maintains inflation expectations in the U.S. and adds pressure on exporters within the Euro Stoxx 50, automotive manufacturers, and North American commodity supply chains.
Context of the Past Week: Fed, Inflation, and Tech Giants' Reports
The new week starts with strong fundamentals. American indexes concluded July predominantly higher: buoyed by robust reports from Microsoft and Alphabet that compensated for disappointing results from Apple and Meta, as well as softer inflation data and the Fed's decision to maintain rates within the 3.50–3.75% range. The decline in oil prices further supported risk appetite within the tech sector. In Russia, a package of changes came into effect on August 1—from recalculating pensions for working retirees to electronic tax notifications—moderately positive for the consumer sector on the Moscow Exchange.
Corporate Reports of the Week: From Palantir to Disney
The Q2 earnings season in the U.S. is hitting a new peak. Key releases for the week include:
- Monday, August 3: Palantir, Marriott International, Snap; in Russia—TGC-1’s IFRS report for the first half of the year.
- Tuesday, August 4: Caterpillar, McDonald's, Merck, Pfizer, Spotify—before market open; AMD and Amgen—after market close.
- Wednesday, August 5: Walt Disney, Eli Lilly, Uber, Shopify, eBay; in Russia—IFRS report from Rostelecom.
- Thursday, August 6: ConocoPhillips, Airbnb, Warner Bros. Discovery, DraftKings; in Russia—report from Unipro.
- Friday, August 7: Take-Two Interactive, Under Armour, Wendy's.
Special attention will be directed towards the semiconductor sector: AMD’s results and forecasts will serve as a litmus test for demand resilience in artificial intelligence infrastructure.
Macro Calendar for the Week: ISM and U.S. Employment Report
- August 3: July ISM index in the U.S. manufacturing sector, PMI for China's manufacturing.
- August 4: JOLTS job vacancies and U.S. trade balance for June.
- August 5: ADP employment report and ISM index for services.
- August 6: Weekly claims for unemployment benefits and Challenger job cuts data.
- August 7: U.S. July labor market report (Non-Farm Payrolls)—the main release affecting expectations for the Fed rate.
What Investors Should Watch For
Sunday, August 2, 2026, is a day for positioning before market openings. The first point of focus: the outcomes of the OPEC+ meeting—decisions on September quotas and any signals regarding a pause starting in October will dictate oil dynamics, commodity currencies, and oil and gas sector stocks on Monday. The second point: Berkshire Hathaway's report—the holding company's cash position and the tone of Greg Abel’s comments are traditionally viewed as a barometer of conservative capital's sentiment towards current S&P 500 valuations. The third point: macroeconomic statistics for the upcoming week—from China's PMI to Friday’s U.S. employment report—could shift expectations for the Fed’s rate trajectory following the July decision. Maintaining a balanced exposure to commodity assets, readiness for volatility in semiconductor stocks around the AMD report, and attention to tariff news from Washington remain the foundational strategy for the first days of August.
