Analytical Review of Key Economic Events and Corporate Reports for Sunday, January 4, 2026. Continuation of the Holiday Lull, Minimal Data, and Preparation for the First Trading Week of the Year.
Sunday, January 4, 2026, unfolds amid a persistent lull in global markets following the New Year festivities. Major stock exchanges in the US and Europe are closed for the holiday, and trading activity remains subdued as investors assess the results of 2025 and strategize for the new year ahead. There are no macroeconomic publications or corporate reports from major companies expected today, and no new drivers for price movements are on the horizon. However, market participants are using this pause to analyze released data and prepare for the first full trading week of 2026, when fresh statistical indicators and reports will begin to emerge.
Macroeconomic Calendar (MSK)
There are no significant macroeconomic statistics scheduled for Sunday, January 4. Most government agencies and central banks are taking a break for the holidays, thus there are no new benchmarks available. The absence of new data leaves markets without fresh direction until the workweek begins.
United States (S&P 500 Index)
- The US markets are closed on this holiday, and there are no scheduled releases of economic indicators or quarterly reports from companies within the S&P 500 on January 4. Investors in the US are reflecting on year-end dynamics: during the last week of December, the S&P 500 showed moderate growth in anticipation of a dovish shift in the Fed's policy in 2026.
- The Federal Reserve confirmed its dovish stance during its December meeting following a series of rate cuts in the second half of 2025. The easing of inflation towards target levels and a stable labor market allow the regulator to signal its readiness to support economic growth. These expectations have bolstered appetite for risk assets.
- Long-term US Treasury yields have stabilized after a recent decline, reflecting investor confidence that inflationary pressures remain under control. The upcoming release of key employment data (Non-Farm Payrolls for December is expected at the end of the first week of January) is in focus, as its results will help gauge market sentiment on Wall Street at the start of the new year.
Europe (Euro Stoxx 50 Index)
- European markets are also closed on January 4, with no new macroeconomic events in the region. The pan-European Euro Stoxx 50 index finished 2025 largely unchanged, holding near yearly highs. The reduction in inflation by year-end has eased pressure on the European Central Bank, which has signaled an imminent end to its rate hike cycle. Bond yields in the Eurozone have stabilized, and the banking sector has received a breather in anticipation of easing credit conditions in 2026.
- Across the corporate sectors in Europe, results for the past quarter showed mixed dynamics: banks reported profit growth against earlier high rates, while industrial companies faced increased costs from expensive energy. Investors on European exchanges are awaiting new data (such as business activity indexes and consumer confidence in early January) to assess corporate profit prospects for the first quarter of the new year.
Asia (China and Japan Markets)
- In Asia, key exchanges are closed on January 4, but attention is focused on economic signals. In China, December's PMI indexes indicate moderate growth in the services sector amid weak industrial recovery, suggesting a gradual stabilization of the economy (Chinese authorities promise additional stimulus in 2026). The Japanese Nikkei 225 remains near multi-year highs due to a weak yen and the ultra-loose monetary policy of the Bank of Japan: despite inflation above 2%, the regulator has not yet rolled back its stimulus, which supports exporters' profits.
Commodity and Currency Markets: Oil, Gold, and the Ruble
- Brent oil prices are hovering around $75-$80 per barrel, remaining stable due to the extension of OPEC+ production limits and steady demand; the absence of news over the weekend does not lead to price fluctuations. Gold prices are also steady — the metal is trading around $2,000 per ounce with minimal volatility: at the end of 2025, gold saw a slight increase amid a weaker dollar and demand for safe-haven assets, while expectations of peak interest rates continue to sustain interest in the precious metal.
- The ruble demonstrates stability over the weekend. The official exchange rate holds around its last closing level (approximately 75 rubles per US dollar), but trading volumes are low due to holiday pauses on the Moscow Exchange. The absence of external shocks and relatively stable oil prices support the ruble. Volatility in the Russian currency market is expected to return with the opening of trading following the New Year holiday; then the ruble's exchange rate will start responding to the dollar's dynamics on Forex, energy prices, and potential news concerning sanctions or economic policy.
Corporate Sector: Reports and Company Prospects
- The global corporate calendar for January 4 is empty — no major public company from the S&P 500, Euro Stoxx 50, Nikkei 225, or Moscow Exchange is publishing financial results on this Sunday. The third-quarter earnings season wrapped up in November, and now there is a pause before the onset of the new reporting cycle. Major corporations traditionally avoid significant announcements during the holiday period, thus the news backdrop from businesses today is neutral.
- In the US, the fourth-quarter earnings season for 2025 is set to kick off: by mid-January, major banks and technology giants will begin reporting. Investors are cautiously optimistic about these releases, with profit forecasts generally positive due to resilient consumer demand and easing inflationary pressures. The previous earnings season (Q3 2025 results) proved successful for the US market, with most companies exceeding profit expectations. For instance, Microsoft reported a sharp increase in revenue from its cloud division, while Walmart noted high retail sales, bolstering confidence in consumer activity.
- In Europe, the release of full-year financial results for 2025 will begin closer to February, making January a traditionally quiet period for the European corporate calendar. However, past reports for Q3 illustrated generally decent results: many firms managed to maintain profitability. The banking sector in Europe benefited from higher interest rates in the first half of the year, while manufacturing corporations experienced cost pressures. Investors in the region are now focusing on macro indicators to assess whether corporate profit growth will continue amid economic slowdown.
Russia (Moscow Exchange Index)
- The Russian market is closed on January 4 for New Year holidays (trading on the Moscow Exchange will resume after January 8), so there are no major companies’ financial reports or corporate events occurring today. By the end of December, the Moscow Exchange index demonstrated relative stability thanks to high energy resource prices and the easing of monetary policy in Russia. Most leading companies reported for the first nine months of 2025 back in the fall, showing robust results: oil and gas giants benefited from high prices for oil and gas, while banks noted increased credit activity amid the decline of the key rate from the Central Bank of Russia.
- Attention for the Russian market now shifts to external factors and governmental decisions. In the coming days, focus will be on oil price dynamics and the ruble exchange rate, which will set the tone for the Russian market upon reopening. Additionally, investors are monitoring potential announcements from the Russian government at the beginning of the year — for instance, regarding budget policy or measures to support certain industries. Any such news, along with global trends formed during the holiday pause, will underpin the movement of the Moscow Exchange index in the first trading sessions of January.
Day Results: What Investors Should Pay Attention To
- Monetary Policy from the Fed and ECB: Even in the absence of new events, it is essential to consider comments and signals from central banks. If representatives of the US Fed or ECB make statements regarding rate prospects over the weekend, it could impact sentiments at the beginning of the week. Markets are pricing in a dovish shift, and any surprises in the regulators' rhetoric could adjust this optimism.
- Data from China: Statistics being released from China in these days (such as PMI indexes or trade metrics) will influence the global risk appetite. Unexpectedly strong or weak figures out of China could set the tone for trading in Asia and indirectly in Europe and the US. Investors should focus on publications from the world’s second-largest economy to assess its condition at the start of the year.
- Commodity Prices and Geopolitics: Despite it being a holiday, it is prudent to monitor news that could impact oil, gas, and metals prices. Any unplanned announcements from OPEC+ or geopolitical events (for example, conflict situations or sanction decisions) can trigger price spikes in commodities ahead of the trading sessions. This will affect shares of resource companies and currencies of resource-dependent countries (including the Russian ruble).
