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, is a rare day when global markets receive a comprehensive price-determining signal. While stock exchanges are closed, today marks a virtual meeting of seven key OPEC+ countries discussing oil production quotas for September—an event that will shape the dynamics of Brent prices and the oil and gas sector stocks on Monday’s market opening. Meanwhile, investors are analyzing Berkshire Hathaway's quarterly report, traditionally released on the first weekend of August, and preparing for a busy week ahead: upcoming ISM indices, the U.S. labor market report, and dozens of corporate releases from S&P 500, Euro Stoxx 50, Nikkei 225, and the Moscow Exchange indices. We explore the key economic events and corporate reports of the day and the upcoming week.
OPEC+ Meeting: The Key Economic Event of the Day
The central event of Sunday is the online meeting of seven principal OPEC+ producers: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. The ministers will assess the state of the global oil market and make decisions regarding the 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 step that concludes the voluntary cuts of 1.65 million barrels implemented in 2023.
- Signal of a Pause: Discussion on freezing quotas from October 2026 to January 2027, which would maintain restrictions of around 2 million barrels per day and provide support for prices.
- Hawkish Scenario: A hint towards further production increases after September would intensify pressure on Brent and shares of oil companies.
The results of this meeting will directly impact the 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 nations, the cartel's decision is a crucial factor for August.
Oil and Geopolitics: Background for the Cartel’s Decision
The OPEC+ decision is being made under unusual circumstances. Exports through the Strait of Hormuz are slowly recovering following the conflict surrounding Iran, causing actual production from several Middle Eastern producers to remain below permitted quotas—paper increases in targets do not always translate into real barrels. Another structural shift is the UAE's exit from OPEC after nearly six decades of membership, altering the power balance within the alliance. In such a configuration, even a formal increase in quotas may coincide with shortages of physical supplies in certain directions.
Berkshire Hathaway: Insights from the Q2 Report
The second focus of the weekend is Berkshire Hathaway's report for the second quarter of 2026, which the holding company traditionally discloses in early August, allowing the market time for analysis before the stock exchanges open. The consensus forecast included revenue of around $95.3 billion and earnings per Class B share of approximately $5.24. Investors are particularly focusing on:
- Cash reserves and buyback rates as indicators of management’s view on market valuations;
- GEICO's insurance margin against the backdrop of rising claims and customer acquisition costs;
- The initial quarters under Greg Abel’s leadership and the integration of the acquisition of Taylor Morrison Home for $8.5 billion;
- The dynamics of insurance float, which exceeded $176 billion.
Berkshire shares have lagged behind the S&P 500 this year due to a decrease in the "Buffett premium" and minimal exposure to the tech sector, so the reaction to the figures on Monday could be pronounced.
Asia: Signals from South Korea and Anticipation of China's PMI
The recently published trade statistics from South Korea for July remain a primary indicator for 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 impact sentiments in the Nikkei 225 index. On Monday, August 3, the Purchasing Managers’ Index (PMI) for China's manufacturing sector will be released by RatingDog (formerly Caixin)—a private measure of the health of small and medium-sized businesses in China, sensitive to U.S. tariff policies. Weak data will heighten expectations for new stimulus from Beijing.
U.S. Tariff Policy: Risk Factor for August
The trade agenda remains a source of volatility for global markets. Investors are keeping an eye on the approach of August 19—the date when U.S. tariffs of 50% on a wide array of Canadian goods will take effect, alongside a 25% tariff on imports from Brazil. The escalation of restrictions is bolstering inflation expectations in the U.S. and creating pressures on exporters in the Euro Stoxx 50, automotive manufacturers, and raw material supply chains in North America.
Context of the Past Week: Fed, Inflation, and Tech Giants’ Reports
A new week begins with strong initial inputs. American indices ended July predominantly higher: optimistic reports from Microsoft and Alphabet compensated for disappointing results from Apple and Meta, along with softer inflation data and the Fed's decision to maintain rates in the 3.50%–3.75% range. A decline in oil prices further supported risk appetite in the tech sector. In Russia, a package of reforms took effect on August 1—ranging from recalculating pensions for working retirees to electronic tax notifications—slightly positive for consumer stocks on the Moscow Exchange.
Corporate Reports of the Week: From Palantir to Disney
The Q2 earnings season in the U.S. is reaching a new peak. Key releases for the week include:
- Monday, August 3: Palantir, Marriott International, Snap; in Russia—TGC-1’s IFRS report for the first half of the year.
- Tuesday, August 4: Caterpillar, McDonald's, Merck, Pfizer, Spotify—before market open; AMD and Amgen—after market close.
- Wednesday, August 5: Walt Disney, Eli Lilly, Uber, Shopify, eBay; in Russia—IFRS report from Rostelecom.
- Thursday, August 6: ConocoPhillips, Airbnb, Warner Bros. Discovery, DraftKings; in Russia—UniPro report.
- Friday, August 7: Take-Two Interactive, Under Armour, Wendy's.
Particular attention is directed to the semiconductor sector: the results and forecasts from AMD will serve as a litmus test for the sustainability of demand for AI infrastructure.
Macro Calendar for the Week: ISM and U.S. Employment Report
- August 3 — July ISM manufacturing index in the U.S., PMI for China’s manufacturing sector.
- August 4 — JOLTS job openings and U.S. trade balance for June.
- August 5 — ADP employment report and ISM services index.
- August 6 — Weekly jobless claims and Challenger job cuts data.
- August 7 — July U.S. labor market report (Non-Farm Payrolls), the main release for expectations regarding the Fed’s rate policy.
What Investors Should Focus On
Sunday, August 2, 2026, is a day for positioning ahead of the market opening. First: the outcome of the OPEC+ meeting—the decision on 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 cash position of the holding company and the tone of comments from Greg Abel are traditionally seen as a barometer for conservative capital's attitudes towards current S&P 500 valuations. Third: macroeconomic statistics for the upcoming week—from China’s PMI to Friday’s U.S. employment report, which could shift expectations regarding the Fed’s rate trajectory following the July decision. A balanced approach to managing crude asset exposure, readiness for volatility in semiconductor stocks surrounding the AMD report, and attention to tariff news from Washington will remain fundamental strategies in the early days of August.
