Analytical Review of Key Economic Events and Corporate Reports for Sunday, January 4, 2026. Continuation of Holiday Lull, Minimal Data, and Preparation for the First Trading Week of the Year.
Sunday, January 4, 2026, unfolds against the backdrop of ongoing tranquility in global markets following the New Year festivities. Major exchanges in the US and Europe are closed for the holiday, and trading activity remains subdued as investors assess the outcomes of 2025 and formulate strategies for the new year. No macroeconomic publications or corporate reports from major companies are expected today, leaving the market without new drivers for price movements. Nevertheless, market participants are taking this pause to analyze the released data and prepare for the first full trading week of 2026, when fresh statistical indicators and reports will begin to emerge.
Macroeconomic Calendar (MSK)
No significant macroeconomic statistics are scheduled for release on Sunday, January 4. Most government institutions and central banks are taking a break for the holidays, leaving no new benchmarks for the market. The absence of fresh data leaves markets without new indicators until the workweek begins.
USA (S&P 500 Index)
- US markets are closed on this holiday, with no economic indicators or quarterly reports from S&P 500 companies scheduled for January 4. Investors in the US are reflecting on year-end dynamics: during the last week of December, the S&P 500 showed moderate growth amid expectations of easing monetary policy by the Fed in 2026.
- The Federal Reserve confirmed its course towards easing policy at its December meeting following a series of interest rate cuts in the second half of 2025. The slowdown in inflation towards the target level and a stable labor market allow the regulator to signal its readiness to support economic growth. These expectations have bolstered appetite for risk assets.
- Yields on long-term US Treasury bonds have stabilized following a recent decline, reflecting investor confidence that inflationary pressures are under control. The upcoming publication of key employment data (Non-Farm Payrolls for December, due by the end of the first week of January) is in focus — its results will help determine the mood on Wall Street at the start of the new year.
Europe (Euro Stoxx 50 Index)
- European markets are also closed on January 4, with no new macroeconomic events occurring in the region. The pan-European Euro Stoxx 50 index finished 2025 without significant changes, remaining close to its yearly highs. The decrease in inflation by year-end eased pressure on the European Central Bank, which signaled the imminent end of the interest rate hike cycle. Bond yields in the eurozone have stabilized, and the banking sector enjoys a breather in anticipation of easing credit conditions in 2026.
- Among European corporate sectors, mixed dynamics were observed in the results of the last quarter: banks showed profit growth amid previously high rates, while industrial companies faced increased costs due to expensive energy sources. Investors on European exchanges are awaiting new data (such as business activity and consumer confidence indices in early January) to assess prospects for corporate profits in the first quarter of the new year.
Asia (China and Japan Markets)
- In Asia, the key exchanges are closed on January 4, but attention is focused on economic signals. In China, December's PMI indices indicate moderate growth in the services sector amid a weak industrial recovery, signaling a gradual stabilization of the economy (Chinese authorities promise additional stimuli in 2026). Japan's Nikkei 225 remains near multi-year highs due to a weak yen and the ultra-loose policy of the Bank of Japan: despite inflation above 2%, the regulator has yet to rollback stimulus, supporting exporters' profits.
Commodity and Currency Markets: Oil, Gold, and the Ruble
- Brent oil prices remain near $75–80 per barrel, stable due to extended OPEC+ production restrictions and steady demand; the absence of news on the holiday has not led to price fluctuations. Gold prices are likewise calm — the metal trades around $2000 per ounce with minimal volatility: at the end of 2025, gold slightly increased in value amid a weakening dollar and demand for safe-haven assets, with expectations of peak interest rates continuing to support interest in the precious metal.
- The ruble is showing stability during the holiday. The official exchange rate of the Russian currency holds around the level of the last close (approximately 75 rubles per 1 US dollar), but trading volumes are minimal due to the festive season and the pause on the Moscow Exchange. The absence of external shocks and relatively stable oil prices support the ruble. Volatility in the Russian currency market will return with the resumption of trading after the New Year holidays; then, the ruble's exchange rate will begin to respond to dollar dynamics on Forex, energy prices, and any news regarding sanctions or economic policy.
Corporate Sector: Reporting and Company Prospects
- The global corporate calendar for January 4 is empty — no major public companies from the S&P 500, Euro Stoxx 50, Nikkei 225, or Moscow Exchange are publishing financial results today. The third-quarter earnings season wrapped up back in November, and a pause now occurs before the start of the new reporting cycle. Major corporations traditionally avoid significant announcements during the holiday season, thus the news flow from businesses today is neutral.
- In the US, the fourth-quarter 2025 earnings season is set to begin: during the second half of January, the largest banks and tech giants will start reporting. Investors await these releases with cautious optimism — profit forecasts are generally positive thanks to resilient consumer demand and easing inflationary pressures. The previous season (Q3 2025 outcomes) was successful for the American market: most companies exceeded profit forecasts. For instance, Microsoft reported a sharp increase in revenue from its cloud division, while Walmart noted high sales in its retail business, reinforcing confidence in consumer activity.
- In Europe, the publication of financial results for the full year of 2025 will start closer to February, making January a traditionally quiet period for the European corporate calendar. Nevertheless, reports from the third quarter showed generally decent results: many companies managed to maintain profitability. The European banking sector benefited from higher interest rates in the first half of the year, while manufacturing corporations faced cost pressures. Investors in the region are now focusing on macro indicators to understand whether corporate profit growth will continue amid economic slowdown.
Russia (Moscow Exchange Index)
- The Russian market is closed on January 4 for New Year holidays (trading on the Moscow Exchange will resume after January 8), so there are no financial reports from major companies or corporate events occurring today. By the end of December, the Moscow Exchange index maintained relative stability due to high energy resource prices and an easing of monetary policy in Russia. Most leading companies reported for the first nine months of 2025 back in the fall, showing resilient results: oil and gas giants benefitted from high oil and gas prices, while banks noted a rise in lending activity due to the Central Bank of Russia's key rate reduction.
- Now, the focus for the Russian market shifts to external factors and government decisions. In the coming days, attention will be on oil price dynamics and the ruble's exchange rate, which will set the tone for the Russian market once trading reopens. Additionally, investors are monitoring possible statements from the Russian government at the beginning of the year — for example, regarding budget policy or measures to support specific industries. Any such news, along with global trends established during the festive pause, will underpin the movement of the Moscow Exchange index in the early trading sessions of January.
Summary of the Day: What Investors Should Pay Attention To
- Monetary Policy of the Fed and ECB: Even in the absence of new events, it is essential to consider comments and signals from central banks. If representatives from the US Fed or ECB make statements over the weekend regarding the outlook for rates, this could impact sentiment at the start of the week. Markets are factoring in policy easing, and any surprises in the rhetoric from regulators could adjust this optimism.
- Data from China: Statistics emerging from China in these days (such as PMI indices or trade figures) will influence global risk appetite. Unexpectedly strong or weak figures from the PRC could set the tone for trading in Asia and, indirectly, in Europe and the US. Investors should pay attention to publications from the world's second-largest economy to assess its state at the year's start.
- Commodity Prices and Geopolitics: Despite the holiday, it is advisable to keep an eye on news that might influence oil, gas, and metals. Any unplanned statements from OPEC+ or geopolitical events (such as conflicts or sanction decisions) could prompt price fluctuations in commodities by the time trading opens. This will affect the shares of commodity companies and currencies of resource-rich countries (including the Russian ruble).
