Detailed Review of Economic Events and Corporate Reports for Saturday, November 22, 2025. Key Topics: G20 Summit, Key Macro Economic Signals, Investor Sentiment, and Impact on Global Markets.
Saturday, November 22, 2025, arrives after a week full of activity for financial markets. Exchanges head into the weekend having digested a stream of macroeconomic statistics from recent days – from purchasing managers' indexes (PMI) across major economies to inflation data and consumer confidence. The day’s highlight is the long-awaited G20 Summit in South Africa, poised to set the tone for global markets heading into the new week. Against this backdrop, corporate news takes a backseat: no significant corporate reports are scheduled for the weekend, diverting investor attention toward political and macroeconomic issues.
For participants in global equity markets – from Wall Street to Asian exchanges (indexes S&P 500, Euro Stoxx 50, Nikkei 225, and the Russian index Moscow Exchange) – the key task becomes assessing the conflicting signals received by the end of the week. On one hand, the services sector in the latest PMI shows resilience, while industry falters; inflationary pressure in several countries remains elevated, yet there are signs of slowing price growth. On the other hand, sentiment is affected by increased uncertainty in the geopolitical arena (disagreements regarding the US participation in G20, among others). In this environment, the outcomes of Saturday’s events will be closely monitored by investors, shaping the initial trading sentiments for Monday.
Global Agenda: G20 Summit in South Africa
A two-day G20 summit, unprecedented as the first G20 meeting held on African soil, kicks off in Johannesburg. The theme of the forum is “Solidarity, Equality, Sustainability,” with leaders of developing nations aiming to emphasize reducing global inequality, alleviating the debt burdens of the poorest economies, and financing the green transition. The South African presidency promotes issues related to assisting developing nations in adapting to climate change and attracting investments in infrastructure. For emerging markets, this is an opportunity to convey the agenda of external debt restructuring and gaining wider access to growth financing.
However, the summit occurs against a backdrop of unprecedented diplomatic rifts. The US administration, led by Donald Trump, officially boycotts the meeting, objecting to its agenda and accusing the host nation of bias. Washington has limited its participation to sending only a chargé d’affaires to the closing ceremony – effectively leaving a “empty chair” where the American leader typically sits. The absence of the US at the negotiation table exacerbates the sense of fragmentation in global economic governance. Instead of a traditional unified communiqué, the world may witness a division into blocs: EU countries, China, India, and others are striving to develop collective solutions on climate and debt while the US distances itself from these efforts.
Investors are closely watching the G20 negotiations. The first day of the summit could see significant announcements – for instance, calls for reforming international financial institutions or initiatives for emission controls and supporting the energy transition. Geopolitical topics will not be overlooked: forum participants may touch upon conflict zones and sanctions regimes, which is particularly critical for the energy market and specific countries (including Russia). Any signals from the summit – ranging from signs of cooperation among key powers to deepening disagreements – could affect global markets ahead of the new week.
For markets, the absence of the US in dialogue implies rising uncertainty. The fragmentation of global coordination could impact sentiment as follows:
- potentially higher risk premium for emerging market assets due to declining trust in multilateral initiatives;
- shifting investor focus towards local growth drivers and domestic demand in major markets, as achieving unified global solutions becomes more challenging;
- increased interest in companies and sectors benefiting from supply chain restructuring and localization of production amid geopolitical tensions.
The summit will conclude on Sunday, November 23, with expectations for the G20 presidency to change hands from South Africa to the US. This moment is already overshadowed by the diplomatic conflict – as President Ramaphosa noted, he would prefer not to “hand over the baton to an empty chair.” Markets will respond on Monday to the final communiqué (if it can be agreed upon) or the absence of one. Key focal points will include agreements on alleviating the debt crisis faced by developing nations, climate commitments from major economies, as well as signs of warming or worsening relations between world leaders on the summit sidelines.
US Corporate Reports
The American corporate calendar is nearly empty on the weekend – no financial reporting is scheduled for Saturday. This is unsurprising, as the quarterly earnings season in the US is nearing its end. Most companies in the S&P 500 have reported their third-quarter results earlier in November, and no new significant releases are expected until next week. The outgoing week was marked by a series of important reports that set the tone for the market: technology giant NVIDIA exceeded profit forecasts due to the surging demand for AI chips, driving a surge in Nasdaq and reinforcing faith in the ongoing “AI boom.” Major retailers also shared results – Walmart and Target demonstrated stable revenues, signaling sustained consumer demand even amid high prices and interest rates. After such a news-heavy period, the current weekend offers the market a breather: investors have time to reflect on the information received before the few remaining companies report next week. The focus will be on the validity of assessments regarding the state of the economy: strong corporate profits from certain companies sustain optimism; however, the lack of new drivers over the weekend means that attention shifts to macro events like the G20 summit and the upcoming sales season.
European Corporate Reports
European equity markets also do not anticipate new corporate publications on Saturday. Major issuers in the region (including companies in the Euro Stoxx 50 index) have already disclosed their third-quarter financial results in the preceding weeks of October and November. The earnings season in Europe is nearing its conclusion, and significant weekend releases are not scheduled. After a barrage of data at the month's beginning, a period of relative calm has settled: investors in Europe are digesting the previously published reports and macroeconomic statistics. Recent results from the industrial conglomerate Siemens and the Eurozone banking sector confirmed a mixed picture in the economy – growth continues in certain niches, while consumer-oriented indicators appear cautious. In the absence of new reports during these days, European market players will primarily watch external factors: news from the G20 summit, global trends, and commodity price dynamics. It is worth noting that in several European countries, November is traditionally a quiet period for corporate news, with companies preparing for annual results and forecasts announcements that typically ramp up as the year-end approaches.
Asian Corporate Reports
The Asia-Pacific region also has no significant corporate events on Saturday. In major Asian economies, the reporting season for July to September is nearly over. In China and Japan, most tech and industrial giants reported before mid-November: for example, Chinese e-commerce leaders released their results (JD.com – November 13, showing double-digit revenue growth; Alibaba is set to announce data next week), and Japanese automakers and electronics companies complete their quarterly reports by this time. Thus, no significant publications are scheduled for November 22 in Asia. Investors in the region are taking a pause to assess overarching trends: recent reports from companies in China indicated a recovery in domestic demand, albeit uneven, while Japanese corporations reported increased profits amidst a weak yen. The lack of new figures over the weekend directs Asian investors' focus to external events – the outcomes of the global G20 summit, as well as signals from the US and Europe that will set the tone for Asian trading on Monday morning. Additionally, markets in the region are watching commodity price trends and currency exchange rates: for instance, the stability of the yuan and yen will largely depend on the rhetoric of world leaders and expectations regarding the monetary policy of leading central banks.
Russian Corporate Reports
The Russian equity market is also not expecting new reports from major public companies on Saturday. The main wave of financial results disclosure for the first nine months of 2025 has already occurred throughout November. Many leading issuers across various sectors have disclosed key indicators: banks presented data on profits and reserves (for example, Sberbank reported a net profit increase of around +6% YoY under RAS for the nine months, reflecting the relative resilience of the banking sector amid sanctions and high rates), while oil and gas companies reported declining profits against a backdrop of lower energy prices and tax burdens, and metallurgical and chemical companies showed mixed results, balancing between export restrictions and a recovery in domestic demand. Consequently, Saturday does not bring any new corporate information for the Russian market. Investors on the Moscow Exchange are using this pause to analyze the figures already published and assess the prospects for specific sectors. In the absence of fresh reports, attention shifts to external factors – global news from the G20 summit, commodity price dynamics, and the ruble exchange rate, which is sensitive to any changes in the geopolitical backdrop. The Russian market enters the new week seeking drivers: local reporting has momentarily taken a backseat, and the further movement of the Moscow Exchange index will be primarily determined by macroeconomic and foreign policy signals.
What Investors Should Pay Attention To
Over the weekend and in the lead-up to Monday's market opening, investors should focus on several key points:
- Outcomes of the G20 Summit: the conclusion of the leaders' meeting in Johannesburg and the final statement (or lack thereof) will become the main risk factor. If participants manage to agree on several issues – such as support measures for development or alleviating the debt crisis – this could moderately improve market sentiment, especially in the segment of developing countries. However, an escalation of disagreements, the absence of the US at the negotiation table, and potential sharp statements (regarding trade, sanctions, climate) could heighten volatility: on Monday, investors might see increased demand for safe assets (gold, bonds) and pressure on emerging markets currencies, including the ruble.
- Kick-off of the holiday sales season: the global economy is set to enter an active consumption period next weekend – the “Black Friday” and “Cyber Monday” sales begin in the US and Europe. The upcoming week will provide the first assessments of how willing consumers are to spend in the face of high inflation and rising credit costs. Investors will be keen on any data and forecasts from retail chains: a strong start to holiday sales would be a positive signal, supporting shares of companies in the retail, e-commerce, and related sectors (from electronics manufacturers to transporters). Conversely, disappointing consumer activity could lead markets to reassess expectations for economic growth rates in Q4, affecting retailer stock prices and potentially heightening caution in equity indexes.
- Risk Appetite and Market Sentiment: the overall news configuration over the weekend will set the tone for investors at the start of the new week. It is crucial to watch if conflicting trends persist: resilient demand in the services sector alongside weak industry and imbalances in the policies of leading powers. If geopolitical tensions escalate after the G20, one can expect increased demand for safe-haven instruments and currencies (such as the yen, Swiss franc), while emerging market stocks may feel pressure. Conversely, any signs of de-escalation and constructive dialogue among leaders, reinforced by reasonable macro indicators, could enhance risk appetite. In a climate of uncertainty, investors should exercise caution with excessively risky bets, monitor futures on key indexes on Sunday night, and be prepared for heightened volatility at the trading week’s start.
Overall, the Saturday information backdrop is focused on global events and sentiments. The direction of market movements in the coming days will largely depend on how the G20 summit proceeds and the signals sent by world leaders. Investors from CIS countries are recommended to pay special attention to external news this weekend: geopolitics and the global economy are now coming to the forefront as corporate reports temporarily take a backseat. Starting Monday, the market focus will begin to shift to the pre-holiday consumer season and the final economic data for the year, but the starting point for this surge is being formed right now – in the quiet of the weekend, during negotiations in Johannesburg, and in anticipation of the initial figures from holiday sales.
