Key Economic Events and Corporate Reports for Sunday, December 28, 2025: A Global Calm in the Markets, Absence of New Data, and Preparation for the Final Trading Sessions of the Year.
Sunday, December 28, 2025, is marked by a complete calm in the global financial markets. Following the Christmas holidays and a shortened trading week, global exchanges remain on pause: all major venues are closed for the holiday. No new macroeconomic publications or corporate reports from major companies are expected, and investor activity is at a minimum. The lack of fresh drivers means that price dynamics remain neutral, with market participants utilizing this breather to assess the situation and prepare for the final trading sessions of the year.
Global Markets: A Holiday Trading Day
All key stock exchanges in the U.S., Europe, and Asia are closed on December 28 due to the holiday (Sunday). American indices S&P 500 and NASDAQ ended the previous shortened week with no significant changes: Friday's trading on Wall Street was sluggish due to the absence of many participants, and no new price movements developed before the weekend. European markets are also on pause — exchanges in London, Frankfurt, and other financial centers are closed, and the Euro Stoxx 50 pan-European index remains unchanged today. A similar situation prevails in Asia: trading is not taking place on the Tokyo (Nikkei 225) and Shanghai exchanges on Sunday. The Russian stock market (Moscow Exchange index) is also closed until the start of the new week. The global absence of trading results in major indices remaining at their previous closing levels, without any new impulses.
Macroeconomic Statistics: No Significant Publications
The international economic calendar for December 28 is virtually empty: government institutions and central banks of major countries do not release statistics on holidays. Neither the U.S. nor countries in Europe or Asia have significant macroeconomic indicators scheduled for release, as the holiday period is accompanied by a pause in official announcements. Investors have nothing to add to the already known picture: all important data released earlier in December has already been factored into the market. Consequently, market participants lack new macroeconomic benchmarks, and market sentiments are formed under the influence of previous news and expectations. Only a few local reports (e.g., on industrial production and the banking sector) may surface on this day, but their influence on global markets is negligible.
Corporate Calendar: A Quiet End to the Year
No corporate reports from major public companies are scheduled for December 28. The quarterly reporting season concluded earlier in the month, and none of the firms included in key indices (S&P 500, Euro Stoxx 50, Nikkei 225, Moscow Exchange index) are issuing financial results on this day. Even in the U.S., where markets are typically active, large corporations avoid any announcements during the height of the holiday season. A small number of second-tier companies theoretically could release press releases or operational updates, but doing so on a non-working day makes little sense—investors simply wouldn’t see them until the markets reopen. Thus, the news background from the corporate sector remains neutral and does not impact market participants' sentiment.
Trading Activity: Low Liquidity and Volatility
The absence of trading sessions and fresh news leads to extremely low liquidity in financial markets this weekend. "Thin" trading—characterized by minimal transaction volumes—defines the end of the week: the main players have already exited the market ahead of the New Year, and those remaining are not taking active actions. Consequently, the volatility of leading assets is at a reduced level. Stock indices remain confined within narrow ranges, as there are insufficient buyers or sellers to induce significant price shifts. This neutral dynamic is attributed to large investors having taken profits and closing some positions in advance, with no plans for new trades until January. With trading activity virtually at zero, sharp price movements are unlikely.
Currencies and Commodities: Calmness Over the Weekend
Currency and commodity markets are also in a state of tranquility. The international forex market is closed until Monday, hence the exchange rates of major currency pairs (USD/EUR, USD/JPY, etc.) remain around the levels of the last closing, without new fluctuations. Prices for oil and gold, having concluded the week with minor deviations, will not update over the weekend—trading in oil, metals, and other commodities will resume only with the opening of exchanges at the start of the following week. Thus, external benchmarks for stock markets in terms of commodity and currency quotations remain stable. Neither the dollar nor oil provides new signals for market participants, which supports a general atmosphere of caution.
Seasonal Factors: Santa Claus Rally and Portfolio Rebalancing
At the end of December, investors traditionally anticipate the phenomenon of the "Santa Claus rally"—seasonal price increases in stock markets amidst low trading volumes. However, in 2025, the conditions for a strong rally are minimal: the macroeconomic data from recent weeks has been mixed, and many participants are adopting a cautious, wait-and-see approach. With reduced liquidity, strong growth drivers are absent, thus no significant price spikes are forecasted in the final sessions of the year.
Another end-of-year factor is portfolio rebalancing by large institutional players. In the last days of December, funds and investment banks may conduct sales and purchases to align their portfolios with target proportions before the closing of the annual reports. These technical operations may generate targeted movements in specific stocks or sectors at the beginning of the following week, but do not lead to long-term trends. Overall, seasonal effects this year are weakly expressed, and for most investors, the primary strategy remains to maintain current positions until the New Year.
What to Watch for Investors
- Stay updated over the weekend: despite the calm, important global events may occur at any moment. For example, on Sunday, the Bank of Japan releases a review of opinions from its latest meeting, and any geopolitical statements or urgent news that emerge on Saturday or Sunday will be reflected in the markets only after they open. Unexpected information can induce price gaps on Monday morning.
- Use the pause for portfolio analysis: a holiday is a suitable time to evaluate the results of 2025. CIS investors should review the effectiveness of their investments, reassess asset balances, and prepare strategies for the initial weeks of 2026 while fresh data and reports have yet to create volatility.
- Prepare for the final sessions of December: the last trading days of the year (December 29-31) will proceed against a backdrop of declining activity but may yield localized movements. At the beginning of the new week, some market participants will rebalance positions, and the first signs of market direction before the New Year could appear on December 29. It’s essential for investors to approach this week well-prepared: maintain caution when opening new trades, set limit orders, and avoid excessive risks in thin-market conditions.
- Maintain a long-term perspective: the pre-New Year calm is temporary. The absence of movements does not mean a lack of prospects—active conditions will return in January 2026, with a new corporate reporting season and significant macroeconomic statistics on the horizon. For those adhering to their investment strategy, it is crucial to avoid succumbing to false feelings of tranquility and be prepared for renewed market oscillations in the New Year.
Thus, Sunday, December 28, unfolds under the sign of tranquility and the absence of new market benchmarks. Investors take this day to rest and plan, occasionally checking the news backdrop. Ahead lies the final week of the year, which is traditionally calm but requires attention to detail. A cautious approach and strategic planning will help enter the new year armed with essential information and ready for any market turns.
