Analytical Overview of Economic Events and Corporate Reports for Saturday, November 29, 2025: Expectations from the OPEC+ Meeting, Initial Outcomes of Black Friday, and The Impact of Global Factors on the Markets of the USA, Europe, Asia, and Russia.
The last Saturday of November brings investors a moment of quiet in the markets following a shortened trading week and the opening of the holiday sales season. Exchanges around the world are closed for the weekend, allowing market participants to assess the impact of recent macroeconomic data and corporate news. The main topics of the day are the initial outcomes of "Black Friday" – the kick-off day of the sales season – and preparations for a key event in the oil market: the upcoming OPEC+ meeting on Sunday. In these conditions, the focus of investors from the CIS countries shifts toward external factors and global indicators, with virtually no new corporate reports being released on Saturday itself.
For global equity markets – from Wall Street to Asian exchanges (the S&P 500, Euro Stoxx 50, Nikkei 225, as well as the Moscow Exchange index) – the past week has been uneven. American markets lowered their activity due to the Thanksgiving holiday and a shortened session on Friday, while Europe and Asia traded as usual, processing a flow of statistics and finishing reports. Now, in the quiet of the weekend, investors evaluate how strong signals of consumer demand and stability in the raw materials market are before trading resumes on Monday.
Global Agenda: Expectations from the OPEC+ Meeting
Attention is focused on the OPEC+ ministers’ meeting scheduled for Sunday, November 30. The oil market is holding its breath in anticipation of the results of these negotiations. According to the latest reports, the cartel and its allies are likely to maintain existing production limits: the eight largest exporters (the "volunteers," including Russia and Saudi Arabia) have previously extended their cuts until the end of Q1 2026. Thus, the main question at the upcoming OPEC+ meeting is not the quotas for the next quarter (which have already been established), but the technical details: ministers will discuss mechanisms for assessing the maximum production capacities of participating countries to plan policy for 2027.
Oil prices are demonstrating relative stability ahead of the meeting. Brent is holding slightly above $60 per barrel, while WTI is around $58–59, rebounding from recent lows. The lack of expectations for new production cuts is restraining price growth. Analysts note that without additional measures from OPEC+, a new wave of price declines could be seen in the coming months, potentially dropping below $50 per barrel by early 2026.
However, any unexpected moves from the outcomes of Sunday’s meeting will be crucial: a confirmation of the current course (stable production) will be perceived neutrally by the market, while an unexpected signal for deeper cuts could support oil prices and shares of oil and gas companies. Conversely, a lack of action could intensify pressure on exporters: currencies of resource-rich countries, including the Russian ruble, are likely to react sensitively to the meeting's outcome.
Consumer Demand: Initial Outcomes of Black Friday
In the USA and Europe, this weekend marks a bustling holiday sales season, traditionally kicked off by Black Friday on November 28. Initial data indicates a high level of consumer activity, particularly in the online segment. Analysts estimate that American consumers have set a new record for online sales: the total volume of online revenue over the holiday weekend (from Thanksgiving to Cyber Monday) may exceed last year's figures by 5–7%. Meanwhile, foot traffic in physical stores has increased slightly or remained at last year's levels, as more shoppers prefer to order online.
Retailers are noting increased demand for electronics, toys, and home goods. Retail giants like Walmart and Amazon report stable sales, while off-price discount chains (e.g., those owned by TJX, which operates TJ Maxx, and Ross Stores) are attracting budget-conscious shoppers with aggressive discounts. Amid high inflation and rising borrowing costs, low-income consumers are cautious with spending, while affluent households, benefiting from the stock market's rise in 2025, continue to spend actively.
In Europe, the Black Friday initiative is also gaining momentum: large chains and online stores are experiencing a boost in revenue, although the real growth rates are tempered by squeezed incomes in several countries.
Nevertheless, a successful start to the holiday sales will be a positive signal for equity markets: shares of retail and e-commerce companies could see support if strong sales are confirmed by statistics.
US Company Reports
The American corporate calendar is nearly empty this weekend, with no new financial reports scheduled for Saturday. This is not surprising, as the quarterly reporting period in the USA has come to a close. The overwhelming majority of companies in the S&P 500 index have already reported for Q3, and fresh releases are not anticipated until next week. The outgoing week brought some of the final important reports of the season. For instance, tech giant NVIDIA previously exceeded profit forecasts due to surging demand for AI chips, triggering a rally in the sector and reinforcing faith in the ongoing "AI boom." Major retail chains Walmart and Target also shared quarterly results: their revenue remained steady, signaling sustained consumer demand even amid high inflation. After such a news-heavy period, the current weekend offers the markets a respite. Investors have time to digest the received information and adjust strategies before a few remaining companies report in early December, shifting attention to macro statistics.
European Company Reports
European equity markets also do not expect any new corporate publications on Saturday. Most leading issuers in the region (including companies in the Euro Stoxx 50) have already disclosed their financial results for Q3 in previous weeks. The reporting season in Europe has effectively concluded, and no significant releases are scheduled for the weekend. Following a deluge of corporate news in October and early November, there is now a relative lull: investors are digesting previously published reports and assessing macroeconomic trends. Recent results from large European corporations paint a mixed picture of the region's economy. For example, reports from industrial giant Siemens and several major Eurozone banks confirmed that growth persists in some sectors, while consumer demand and investments appear weak. In the absence of new reports during these days, European market participants will primarily focus on external factors – global news, Wall Street dynamics after the holidays in the USA, as well as conditions in raw materials markets. Upcoming December macro statistics (including data on inflation and business activity) and year-end forecasts from companies will be the next guideposts for Europe.
Asian Company Reports
The Asia-Pacific region is also lacking corporate events on Saturday. The earnings season for the July–September period in the largest Asian economies is nearly wrapped up by the end of November. Many technology and industrial giants from China and Japan reported earlier in the month. Last week, Chinese internet giant Alibaba released its financial results – its revenue for Q3 2025 grew approximately by 5% year-on-year (around +15% excluding previously divested divisions), but net profit fell by more than half due to large investments in new business ventures. Another indicator of the Chinese consumer market, Meituan, disappointed investors: its quarterly revenue increased by only 2% year-on-year, falling short of forecasts, and due to a pricing war with competitors, Meituan recorded a net loss – its first in three years.
However, these isolated instances do not alter the overall picture: most major Asian firms previously shared respectable results. Therefore, this weekend, external drivers dominate Asian exchanges. Market participants, in the absence of fresh reports, are watching the outcomes of the week and global events – especially signals from the American market and raw material prices – that will set the tone for trading in Asia on Monday morning.
Russian Company Reports
The Russian stock market is not expecting any new reports from major public companies on Saturday. The main wave of financial results publication for the first nine months of 2025 has already passed in November. Almost all flagship firms on the Moscow Exchange reported earlier: banks showed moderate profit growth (for instance, Sberbank announced a ~6% year-on-year increase in net profit according to RAS for the first nine months, demonstrating the resilience of the banking sector amidst sanctions and high rates); oil and gas corporations recorded a decline in revenue due to lower energy prices and increased tax pressure; metallurgy and chemical companies published mixed results, balancing between export restrictions and the recovery of domestic demand.
Last week, investors received a few delayed reports: the pipeline monopoly Transneft presented its financial results for Q3 2025 under IFRS – the company's figures were close to expectations (revenue around 360 billion rubles for the quarter, net profit at the level of the previous quarter). Additionally, energy company RusHydro reported a profit increase of nearly 29% year-on-year, confirming a positive trend in the electric power sector. With no new releases expected over the weekend, traders on the Moscow Exchange are taking a breather to analyze the data already published and adjust their positions. The further movement of the Russian market at the beginning of next week will be determined primarily by the global news backdrop – the dynamics of oil prices following the OPEC+ meeting and general sentiments in the global markets.
What Investors Should Pay Attention To
- Outcomes of the OPEC+ Meeting: On Sunday, the decision from the oil-exporting countries regarding production for the upcoming months will be made known. If OPEC+ meets expectations and maintains the current quotas unchanged, the reaction from the oil market will be restrained. However, any unexpected actions – such as announcements of additional production cuts – could sharply alter the commodity market dynamics. It is important for investors to track the statement following the meeting: it will determine the trajectory of oil prices in December and the dynamics of oil and gas sector shares. Additionally, the Russian ruble and other currencies of raw material economies may experience significant fluctuations on Monday influenced by the results from the OPEC+ meeting.
- Holiday Sales: Initial reporting data from retailers over the sales weekend will provide guidance on consumer activity. A strong start to Black Friday and Cyber Monday will indicate consumers' willingness to spend, which will improve revenue forecasts for companies in the retail and e-commerce sectors for Q4. This could support their stock prices and overall optimism in the markets. Conversely, if consumer activity falls short of expectations, investors may reconsider growth rate expectations for the end of the year. Shares of retail chains and online platforms risk coming under pressure, and stock indices may start the week with a cautious sentiment.
- Global Risk Appetite Before the New Week: The combination of weekend news will shape investors’ mood for Monday’s trading opening. The absence of negative surprises and positive signals (e.g., successful sales among retailers, stable OPEC+ decisions without conflicts) could strengthen risk appetite, pushing futures on key indices upward before the session begins. If the weekend brings conflicting or worrying news, markets might start Monday with increased demand for safe-haven assets – such as gold and government bonds – and weaken currencies of emerging nations. Investors in the CIS countries should monitor news on Sunday evening and the dynamics of futures on equity indices to be prepared for possible volatility jumps at the beginning of the new week.
Overall, November 29 is focused on assessing consumer and commodity indicators. The success of the holiday sales season kickoff and the verdict from OPEC+ will largely determine the initial market stance ahead of December. In the absence of domestic events, investors from the CIS are advised to pay special attention to the external backdrop. From next week onwards, the focus will shift to the upcoming central bank meetings and final statistics for the year – but the groundwork for this is being laid now, during these quiet weekend days, as global markets digest signals from consumers and oil producers.
