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, is a rare weekend when global markets receive a comprehensive pricing signal. Although stock exchanges are closed, 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 shares in the oil and gas sector when trading opens on Monday. Meanwhile, investors are analyzing Berkshire Hathaway's quarterly report, traditionally published on the first weekend of August, and preparing for a busy week ahead, including ISM indices, the US labor market report, and dozens of corporate releases from companies in the S&P 500, Euro Stoxx 50, Nikkei 225, and the Moscow Exchange index. 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 of Sunday is an online meeting of seven main producers in OPEC+: 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 — the fifth consecutive step concluding a reversal of voluntary cuts of 1.65 million barrels implemented in 2023.
- Signal for a Pause: Discussion of freezing quotas from October 2026 to January 2027, which will maintain around 2 million barrels per day in limitations, providing support for prices.
- Strict Scenario: A suggestion of further production increases after September could intensify pressure on Brent and shares of oil companies.
The outcomes of the meeting will directly impact shares of ExxonMobil, Chevron, Shell, TotalEnergies, and also "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 for August.
Oil and Geopolitics: The Context for the Cartel's Decision
The OPEC+ decision is made under unusual circumstances. Exports through the Strait of Hormuz are gradually recovering after the conflict surrounding Iran, causing the actual production of several Middle Eastern producers to remain below allowed quotas — a theoretical increase in targets does not always translate into actual barrels. Additionally, a structural shift is underway with the UAE's exit from OPEC after nearly six decades of membership, altering the balance of power within the alliance. In such a context, even a formal increase in quotas could be accompanied by a shortage of physical supplies in specific markets.
Berkshire Hathaway: Insights from the Q2 Report
The second storyline of the weekend is Berkshire Hathaway's report for the second quarter of 2026, traditionally disclosed by the holding in the early days of August, giving the market time to analyze before the stock exchanges open. Consensus estimates were around $95.3 billion in revenue and a Class B earnings per share of approximately $5.24. Investors are focused on:
- The size of the cash cushion and the pace of stock buybacks as indicators of management's attitude toward market valuations;
- The margin of the insurance business GEICO amidst 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 at $8.5 billion;
- The dynamics of the 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 tech sector, so reactions to the figures on Monday could be pronounced.
Asia: Signals from South Korea and Anticipation of China's PMI
The recently released 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 shares 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's manufacturing sector from RatingDog (formerly Caixin) will be released — a private measure of the condition of small to medium-sized businesses in China, sensitive to US tariff policies. Weak data will heighten expectations for new stimulus measures from Beijing.
US Tariff Policy: An August Risk Factor
The trade agenda remains a source of volatility for global markets. Investors are monitoring the approach of August 19 — the date when 50% tariffs on a wide range of Canadian goods will take effect, as well as the 25% tariff on imports from Brazil. The escalation of restrictions supports inflation expectations in the US and exerts pressure on exporters in the Euro Stoxx 50, automotive manufacturers, and North American raw material supply chains.
Context of the Past Week: Fed, Inflation, and Tech Giants' Reports
The new week begins with strong inputs. American indices closed July predominantly higher: strong reports from Microsoft and Alphabet compensated for the 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 decline in oil prices further supported risk appetite in the tech sector. In Russia, on August 1, a package of changes came into force — from recalculating pensions for working pensioners 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 reports of the week include:
- Monday, August 3: Palantir, Marriott International, Snap; in Russia — TGC-1 report under IFRS for the first half of the year.
- Tuesday, August 4: Caterpillar, McDonald's, Merck, Pfizer, Spotify — before the market opens; AMD and Amgen — after market close.
- Wednesday, August 5: Walt Disney, Eli Lilly, Uber, Shopify, eBay; in Russia — Rostelecom's 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: AMD's results and forecasts will serve as a test for the resilience of demand for artificial intelligence infrastructure.
Weekly Macroeconomic Calendar: ISM and US Employment Report
- August 3: July ISM index in the US manufacturing sector, PMI for industrial output in China.
- August 4: JOLTS job openings and the 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 impacting Fed rate expectations.
What to Watch for Investors
Sunday, August 2, 2026, is a day for positioning ahead of the market openings. First: the outcomes of the OPEC+ meeting — decisions regarding September quotas and any signals of a pause from October will determine the dynamics of oil, commodity currencies, and shares in the oil and gas sector 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 current S&P 500 valuations. Third: macro statistics for the upcoming week — from China's PMI to Friday's US employment report, which could shift expectations for the Fed rate trajectory following the July decision. A balanced control of the share of 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 early days of August.
