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 – a rare weekend when global markets receive a significant price-setting signal. Stock exchanges are closed, but today seven key OPEC+ countries are conducting a virtual meeting regarding oil production quotas for September – an event that will determine the dynamics of Brent prices and stocks in the oil and gas sector when trading resumes on Monday. At the same time, investors are analyzing the quarterly report from Berkshire Hathaway, traditionally released in the first weekend of August, and gearing up for a busy week ahead: upcoming ISM indices, a US labor market report, and numerous corporate releases from companies within the S&P 500, Euro Stoxx 50, Nikkei 225, and the Moscow Exchange. Let’s break down the key economic events and corporate reports of the day and the upcoming week.
OPEC+ Meeting: The Main Economic Event of the Day
The central event on Sunday is the online meeting of the seven main OPEC+ producers: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. The ministers will assess the state of the global oil market and decide on the production levels for September.
Base Scenarios for the Oil Market
- Base Scenario: An increase in quotas by approximately 188,000 barrels per day – the fifth consecutive step that concludes the reversal of voluntary cuts of 1.65 million barrels introduced in 2023.
- Pause Signal: Discussion of freezing quotas from October 2026 to January 2027, which would maintain around 2 million barrels per day in restrictions and support prices.
- Harsh Scenario: Hints at further increases in production after September would intensify pressure on Brent and the stocks of oil companies.
The outcomes of the meeting will directly impact the stocks of ExxonMobil, Chevron, Shell, TotalEnergies, as well as Rosneft, Lukoil, and Gazprom Neft on the Moscow Exchange. For the ruble and the budgets of exporting countries, the cartel’s decision will be a key factor in August.
Oil and Geopolitics: The Background for the Cartel's Decision
The OPEC+ decision is being taken under unusual conditions. Exports through the Strait of Hormuz are gradually recovering after the conflict regarding Iran, leading to the actual production of several Middle Eastern producers remaining below the allowed quotas – paper increases in targets do not always translate into physical 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 this configuration, even a formal increase in quotas may be accompanied by a supply shortage in certain directions.
Berkshire Hathaway: Insights from Q2 Report
The second theme of the weekend is Berkshire Hathaway’s report for the second quarter of 2026, which the holding company traditionally releases in the early days of August, giving the market time for analysis before the market opens. The consensus estimated revenue of around $95.3 billion and earnings per B-share of approximately $5.24. Key focal points for investors include:
- The size of the cash cushion and the pace of share buybacks as indicators of management's attitude towards market valuations;
- The underwriting margin of GEICO against the backdrop of rising payouts and client acquisition costs;
- The first quarters under Greg Abel's leadership and the integration of the acquisition of homebuilder Taylor Morrison for $8.5 billion;
- The dynamics of insurance float exceeding $176 billion.
Berkshire’s stock has been lagging behind the S&P 500 this year due to a reduction in the "Buffett premium" and minimal exposure to the tech sector, so the reaction to the figures on Monday may be pronounced.
Asia: Signals from South Korea and Anticipation of China’s PMI
Recent trade statistics from South Korea for July remain the primary benchmark for the state of global trade: the export dynamics of semiconductors from Samsung and SK Hynix set the tone for the stocks of chipmakers from TSMC to Nvidia and influence sentiment in the Nikkei 225 index. On Monday, August 3, the Purchasing Managers’ Index (PMI) for China will be released by RatingDog (formerly Caixin) – a private measure of the state of small and medium-sized businesses in China, sensitive to US tariff policy. Weak data will heighten expectations for new stimulus from Beijing.
US Tariff Policy: An August Risk Factor
The trade agenda remains a source of volatility for global markets. Investors are closely monitoring the approach of August 19 – the date when 50% tariffs by the US on a wide range of Canadian goods will take effect, as well as the 25% duty on imports from Brazil. The escalation of restrictions supports inflationary expectations in the US and puts pressure on exporters in 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 begins with strong fundamentals. American indices ended July predominantly higher: supported by solid reports from Microsoft and Alphabet, offsetting disappointing results from Apple and Meta, as well as softer inflation data and the Fed's decision to maintain rates in the 3.50%–3.75% range. The drop in oil prices further supported risk appetite in the tech sector. In Russia, a package of changes went into effect on August 1 — from recalculating pensions for working retirees to electronic tax notifications — moderately positive for the consumer sector of the Moscow Exchange.
Corporate Reports of the Week: From Palantir to Disney
The second quarter earnings season in the US is reaching a new peak. Key releases for the week include:
- Monday, August 3: Palantir, Marriott International, Snap; in Russia – TGC-1 IFRS report for the half-year.
- Tuesday, August 4: Caterpillar, McDonald's, Merck, Pfizer, Spotify – before opening; AMD and Amgen – after market close.
- Wednesday, August 5: Walt Disney, Eli Lilly, Uber, Shopify, eBay; in Russia – Rostelecom IFRS report.
- Thursday, August 6: ConocoPhillips, Airbnb, Warner Bros. Discovery, DraftKings; in Russia – Uniper report.
- Friday, August 7: Take-Two Interactive, Under Armour, Wendy's.
Special attention is on the semiconductor sector: AMD’s results and forecasts will serve as a litmus test for the resilience of demand for artificial intelligence infrastructure.
Macroeconomic Calendar for the Week: ISM and US Employment Report
- August 3 – July ISM index in the US manufacturing sector, China’s PMI.
- August 4 – JOLTS job vacancies and US trade balance for June.
- August 5 – ADP employment report and ISM Services Index.
- August 6 – Weekly jobless claims and Challenger layoffs data.
- August 7 – July US labor market report (Non-Farm Payrolls), the key release for expectations regarding Fed rates.
What Investors Should Pay Attention To
Sunday, August 2, 2026, is a day for positioning ahead of market openings. First: the outcomes of the OPEC+ meeting – decisions on September quotas and any signals about a pause from October will determine the dynamics of oil, commodity currencies, and oil and gas stocks on Monday. Second: the Berkshire Hathaway report – the holding's cash position and the tone of Greg Abel's comments are traditionally read as a barometer of conservative capital's attitude toward the current valuations of the S&P 500. Third: the macroeconomic statistics for the upcoming week – from China's PMI to Friday's US employment report, which can shift expectations regarding the trajectory of Fed rates after July’s decision. A balanced focus on commodity asset allocation, readiness for volatility in semiconductor stocks around AMD's report, and attention to tariff news from Washington remain the foundational strategy for the early days of August.
