Detailed Overview of Economic Events and Corporate Reports for November 16, 2025. G20 Meeting, Preliminary GDP of Japan for Q3, and Remaining Reports from Companies in the USA, Europe, Asia, and Russia.
Sunday presents a relatively calm agenda for global markets, but with several important benchmarks. The focus of the day is on the G20 Sherpas meeting in South Africa, discussing global economic issues and the final agenda for the upcoming leaders' summit. The Asian session is preparing for the release of preliminary GDP data from Japan for the third quarter, which could influence the yen's value and investor sentiment in the region. In the USA and Europe, there are no major macroeconomic releases due to the holiday, hence attention shifts to the week's outcomes and signals from the G20. On the corporate front, the quarterly reporting season is nearly complete: no new reports are expected from blue-chip stocks in the S&P 500 or Euro Stoxx 50, though some companies from Asia and emerging markets continue to release results. It is crucial for investors to evaluate limited weekend events in the context of overall dynamics: geopolitics and G20 meetings ↔ data from Asia ↔ expectations for monetary policy in the coming week.
Macroeconomic Calendar (MSK)
- All day — G20: commencement of the final Sherpa meeting ahead of the leaders' summit (Johannesburg, South Africa, November 16–19).
- 02:50 (Mon) — Japan: GDP for Q3 (preliminary estimate).
G20: Global Agenda and Policy Coordination
- The final G20 Sherpa meeting aims to finalize the summit communiqué project; the focus is on measures to sustain global growth, reforms of international financial institutions, climate initiatives, and fostering development.
- The political backdrop is complicated: the USA has announced the absence of an official delegation at the upcoming summit, highlighting divisions within the G20. However, other participants are keen to demonstrate unity on key issues – from debt relief for developing countries to energy policy coordination.
- Markets are monitoring any statements from Johannesburg: a G20 consensus on global economic stimuli or climate financing might boost risk appetite, while signs of geopolitical tension could increase demand for safe-haven assets (gold, yen).
Japan: Preliminary GDP Data for Q3
- Japan's economy, which grew by +0.5% quarter-on-quarter in Q2 2025 (annualized +2.2% year-on-year), may have slowed down from July to September. Forecasts suggest a potential quarterly contraction for the first time in a year and a half (~–0.5 to –0.7% quarter-on-quarter), driven by exports decline, a drop in housing investments, and inventory reduction.
- Importantly, domestic demand remains relatively resilient: household consumption and business capital expenditures are estimated to continue growing moderately. This indicates that the current downturn may be a one-off – for instance, exports may have decreased following earlier stockpiling ahead of US tariffs, while construction activity adjusted post-regulatory changes.
- For markets, the GDP data will signal monetary outlooks: a deeper recession could enhance expectations for accommodative policies from the Bank of Japan and weaken the yen, benefiting exporter stocks. Conversely, if the economy unexpectedly avoided contraction or if the decline was minimal, it will bolster confidence in recovery, potentially leading to growth in the Nikkei 225 and strengthening of the yen.
Corporate Reports: USA and Europe
- In the USA, the third-quarter earnings season is practically finished. Most companies from the S&P 500 have reported, reflecting a general recovery in profits after last year’s downturn. The holiday means no new reports, so investors are digesting previously published results. Central trends show the retail sector exhibiting sustained consumer demand, technology companies generally exceeding expectations, and industrial margins recovering amid easing inflationary pressure.
- European markets are also experiencing a pause in corporate releases. In Euro Stoxx 50, the overwhelming majority of issuers have already disclosed quarterly results, with an overall tone being positive-neutral: banks and energy firms benefit from rising interest rates and commodity prices, while the consumer sector faces mixed demand. In the absence of new reports on holiday, investors in Europe are focusing on external signals – the situation in China and the outcomes of G20 meetings – evaluating how they may impact the prospects for regional exporters.
Corporate Reports: Asia and Russia
- In Asia, individual corporate results continue to be released. In China and other Asian markets, several companies with non-standard financial years or those smaller in capitalization report results for July-to-September during this period. For example, investors are expecting financial results from major Chinese retailers and technology firms next week, which will add volatility to the sector. In the Japanese market, most large firms already reported earlier in November, so no new drivers are anticipated from reports on Sunday.
- In the Russian market (MOEX), the results publication season for nine months is drawing to a close. Key blue-chip companies – banks, oil and gas companies, and metallurgists – reported in the early weeks of November, predominantly showing revenue growth due to a weak ruble and high prices for export commodities. Remaining reports are more sporadic (mostly from mid-sized and small issuers) and do not significantly affect the index. Investors in Russia are focusing on companies' forecasts regarding dividends and operational results for the fourth quarter, as well as external factors including oil price dynamics and sanction risks.
Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX
- Euro Stoxx 50: The absence of weekend statistical publications means that European market sentiment will be influenced by global news. On Monday, investors in Europe will assess the outcomes of the G20 meeting and any statements regarding global trade or climate policy. Additionally, following weak macro data from China (slowdown in industrial production and retail sales in October), European exporters may face pressure if signs of cooling demand are confirmed.
- Nikkei 225 / Japan: The Japanese market enters a new week with the GDP data and external context in mind. The Nikkei-225 has shown an upward trend in 2025, fueled by a weak yen and a surge in foreign investments. Attention now shifts to macro indications: confirmation of GDP decline could temporarily dampen enthusiasm, especially in the financial and real estate sectors. However, robust domestic demand and lack of surprises from the Bank of Japan will keep investors supported. Additionally, sentiment will be impacted by the upcoming earnings report from the largest US chipmaker (Nvidia) this week – serving as a barometer for demand in technology, which is crucial for Japanese export-oriented companies.
- MOEX / Russia: The Russian stock market finished the week with gains, partially due to stable oil prices and a surge in retail investors. In the absence of external triggers on Sunday, local market dynamics are defined by technical factors and expectations for the new week. The ruble has strengthened in recent days due to tax-related currency sales, which somewhat restrains the Russian index, rich in exporters. Nonetheless, the strong backdrop of commodity markets and record dividend payouts continue to maintain interest in Russian securities. Investors should watch for any potential statements from authorities or companies over the weekend that could affect specific stock prices on Monday.
Day's Summary: What Investors Should Focus On
- G20 and Geopolitics: Any agreements or disagreements voiced at the G20 meeting will set the tone for the week ahead. Unity on supporting the global economy and trade will enhance market optimism, while escalation in rhetoric among major powers (e.g., the USA and China) may, on the contrary, increase demand for “safe havens.”
- Data from Asia: The market's reaction to Japan's GDP will be immediate – especially in the currency market. A significant deviation from the forecast could trigger notable movements in the USD/JPY exchange rate and set a momentum for Asian indexes. It is crucial for investors to assess Asian dynamics on Monday morning to adjust their positions before Europe opens.
- Liquidity and Weekend Risks: On Sunday, major global exchanges are closed, which may lead to low liquidity in certain venues (e.g., in the Middle East, where trading occurs) and sharp movements amid unexpected news. It is advisable to keep a protected portfolio: use stop orders and hedging, considering potential gaps at the market opening on Monday.
- Start of the New Week: The information lull over the weekend is a good opportunity for investors to re-evaluate macro and micro factors. The upcoming week will bring important events (FOMC minutes, inflation data from Europe, key reports from individual companies), so it is prudent to define levels and strategies now. A calm Sunday can be used for portfolio balancing and preparation for potential volatility.
