Economic Events and Corporate Reports: Sunday, August 2, 2026 — OPEC+ Oil Production Meeting, Berkshire Hathaway Report, and Start of a New Trading Week
Sunday, August 2, 2026, represents a rare weekend where global markets receive a significant pricing signal. Stock exchanges are closed; however, today seven key OPEC+ countries hold a virtual meeting to discuss oil production quotas for September—an event that will influence the dynamics of Brent crude 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: upcoming are ISM indices, the US labor market report, and dozens of corporate releases from S&P 500, Euro Stoxx 50, Nikkei 225, and the Moscow Exchange. We will explore the key economic events and corporate reports of the day and the upcoming week.
OPEC+ Meeting: The Central Economic Event of the Day
The main event of Sunday is the online meeting of seven key OPEC+ producers: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. Ministers will assess the state of the global oil market and make decisions regarding production levels for September.
Base Scenarios for the Oil Market
- Base Scenario: An increase in quotas by approximately 188,000 barrels per day—marking the fifth consecutive increase that concludes the reversal of voluntary cuts of 1.65 million barrels implemented in 2023.
- Signal of a Pause: Discussion of a freeze on quotas from October 2026 to January 2027, which would maintain around 2 million barrels per day in restrictions and provide support for prices.
- Strict Scenario: A hint at further increases in production post-September would intensify pressure on Brent and the shares of oil companies.
The outcomes of the meeting will directly affect shares 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 is a key factor in August.
Oil and Geopolitics: The Context for the Cartel's Decision
The OPEC+ decision is being made under unusual conditions. Exports through the Strait of Hormuz are only gradually recovering after the conflict surrounding Iran, which has left actual production levels for several Middle Eastern producers below allowed quotas—paper increases in targets do not always translate into real barrels. An additional structural shift is the exit of the UAE from OPEC after nearly six decades of membership, which has changed the power balance within the alliance. In this configuration, even a formal increase in quotas may coincide with physical supply shortages in certain directions.
Berkshire Hathaway: Insights from the Q2 Report
The second focal point of the weekend is Berkshire Hathaway’s second-quarter 2026 report, which the holding company traditionally discloses in early August, giving the market time for analysis before the stock exchanges open. Consensus expectations were for revenue around $95.3 billion and earnings per Class B share of approximately $5.24. Investor focus includes:
- The size of the cash cushion and the pace of share buybacks as an indicator of management's attitude towards market valuations;
- The insurance business margin of GEICO amid rising claims and the cost of acquiring customers;
- The first quarters under the leadership of Greg Abel and the integration of the acquisition of the builder Taylor Morrison Home for $8.5 billion;
- The dynamics of insurance float, which has exceeded $176 billion.
Berkshire shares have lagged behind the S&P 500 this year due to a reduction in the "Buffett premium" and minimal exposure to the technology sector, hence the reaction to the figures on Monday may be pronounced.
Asia: Signals from South Korea and the Anticipation of China's PMI
Recently published trade statistics from South Korea for July remain the key indicator of the state of global trade: the export dynamics of semiconductors from Samsung and SK Hynix set the tone for chipmaker stocks from TSMC to Nvidia and influence sentiment in 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 condition of small and medium-sized businesses in China, sensitive to US tariff policies. Weak data will intensify 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 on a broad range of Canadian goods will take effect, along with the 25% tariff on imports from Brazil. The escalation of restrictions maintains inflationary expectations in the US and creates pressure on Euro Stoxx 50 exporters, automakers, and North American commodity chains.
Context of the Past Week: Fed, Inflation, and Tech Giants' Reports
The new week starts with strong inputs. US indices finished July predominantly higher, supported by robust reports from Microsoft and Alphabet, which compensated for 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. A decline in oil prices further boosted risk appetite in the technology sector. In Russia, on August 1, a package of changes came into force—ranging 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 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 report under IFRS for the half-year.
- Tuesday, August 4: Caterpillar, McDonald's, Merck, Pfizer, Spotify—before the open; AMD and Amgen—after the 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—Unipro report.
- Friday, August 7: Take-Two Interactive, Under Armour, Wendy's.
Special attention is directed towards the semiconductor sector: the results and forecasts from AMD will serve as a litmus test for demand resilience in AI infrastructure.
Macro Calendar for the Week: ISM and US Employment Report
- August 3 — July ISM index in the US manufacturing sector, PMI for China's industry.
- August 4 — JOLTS job openings 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 main release for expectations on Fed rates.
What Investors Should Focus On
Sunday, August 2, 2026, is a day for positioning ahead of the market opening. Firstly: the results of the OPEC+ meeting—the decision regarding September quotas and any signals about a pause from October will determine the dynamics of oil prices, commodity currencies, and oil and gas stocks on Monday. Secondly: the Berkshire Hathaway report—the holding's cash position and the tone of Greg Abel's comments are traditionally seen as a barometer of conservative capital's attitude towards current valuations of the S&P 500. Thirdly: macro statistics for the upcoming week—from China's PMI to Friday's employment report, capable of shifting expectations for the Fed's rate trajectory following the July decision. A measured control of commodity asset allocations, readiness for volatility in semiconductor stocks surrounding AMD's report, and attention to tariff news from Washington remain the basic strategy for the early days of August.
