Analytical Review of Economic Events and Corporate Reports for Saturday, November 29, 2025: Expectations from the OPEC+ Meeting, Early Results of Black Friday, and the Impact of Global Factors on US, European, Asian, and Russian Markets.
The last Saturday of November brings a calm to the markets for investors following a shortened trading week and the onset of the holiday sales season. Exchanges worldwide are closed for the weekend, allowing market participants to assess the impact of recent macroeconomic data and corporate announcements. The primary topics of the day include the early results of Black Friday—the kickoff day for the discount season—and preparations for a key event in the oil market: the upcoming OPEC+ meeting on Sunday. In this context, the attention of investors from the CIS countries shifts to external factors and global indicators, while there are virtually no new corporate reports released on Saturday itself.
For global stock markets—from Wall Street to Asian venues (including the S&P 500, Euro Stoxx 50, Nikkei 225, and the Moscow Exchange index)—the completed week proved to be uneven. American markets saw a decrease in activity due to the Thanksgiving holiday and a shortened session on Friday, while Europe and Asia traded as usual, digesting a flow of statistics and concluding reports. Now, in the weekend's calm, investors evaluate the strength of consumer demand signals and stability in the commodity market before trading resumes on Monday.
Global Agenda: Expectations from the OPEC+ Meeting
The focus is on the meeting scheduled for Sunday, November 30, of the OPEC+ ministers. The oil market is holding its breath in anticipation of the negotiations' outcomes. According to recent reports, the cartel and its allies are likely to maintain existing production restrictions; earlier, the eight largest exporters (the "volunteers," including Russia and Saudi Arabia) extended cuts until the end of Q1 2026. Therefore, at the upcoming OPEC+ meeting, the main question is not about quotas for the next quarter (which have already been defined), but the technical details: ministers will discuss the mechanism for assessing the maximum production capacities of member countries for planning policies in 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 after bouncing back from recent lows. The lack of expectations for new production cuts is limiting price growth. Analysts note that without additional measures from OPEC+ in the coming months, a new wave of declines in oil prices could be possible—down to levels below $50 per barrel by early 2026.
However, any unexpected moves resulting from Sunday’s meeting will be crucial: confirming the current course (stable production) will be perceived neutrally by the oil market, while an unexpected signal of deeper cuts could support oil prices and shares of oil and gas companies. At the same time, the absence of any actions may increase pressure on exporters: the currencies of commodity-exporting countries, including the Russian ruble, are likely to react sensitively to the meeting's results.
Consumer Demand: Early Results of Black Friday
In the US and Europe, a bustling holiday sales season is underway this weekend, traditionally kicked off by Black Friday on November 28. Early data indicate a high level of consumer activity, especially in the online segment. Analysts estimate that American consumers have set a new record for online sales: the total online revenue for the holiday weekend (from Thanksgiving to Cyber Monday) could surpass 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 such as Walmart and Amazon report stable sales, while off-price discounters (e.g., TJX's TJ Maxx and Ross Stores) are trying to attract budget-conscious shoppers with aggressive discounts. Against a backdrop of high inflation and rising borrowing costs, low-income consumers are cautious about spending, while affluent households, benefiting from the stock market's rise in 2025, continue to spend actively.
In Europe, the Black Friday event is also gaining momentum: major chains and online stores are noting a boost in revenue, although the real growth rates are curtailed by shrinking incomes in several countries.
Nevertheless, a successful start to the holiday sales will send a positive signal to the stock markets: shares of the retail sector and e-commerce could receive support if strong sales are confirmed by statistics.
Corporate Reports from the US
The American corporate calendar this weekend is largely quiet—there are no new financial reports scheduled for Saturday. This is unsurprising, as the quarterly reporting season in the US has come to an end. The overwhelming majority of companies within the S&P 500 have already reported for the third quarter, and investors do not expect fresh releases until next week. The past week brought the last significant reports for the season. For instance, tech giant NVIDIA earlier surpassed profit forecasts due to heightened demand for artificial intelligence chips, spurring a rally in the sector and bolstering confidence in the ongoing "AI boom." The largest retail chains, Walmart and Target, also shared their quarterly results, showing stable revenues and signaling continuing consumer demand, even amid high inflation. After such a news-packed period, this weekend provides a breather for the markets. Investors have time to digest the information and adjust their strategies ahead of the remaining companies reporting in early December and the shift in focus to macro statistics.
Corporate Reports from Europe
European stock markets are likewise not anticipating new corporate publications on Saturday. Most major issuers in the region (including companies from the Euro Stoxx 50) have already disclosed financial results for the third quarter in preceding weeks. The reporting season in Europe has effectively concluded, with no significant releases planned for the weekend. Following a barrage 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 major European corporations paint a mixed picture of the region's economy. For instance, reports from industrial giant Siemens and several major Eurozone banks confirmed that growth persists in certain sectors, while consumer demand and investments appear weak. In the absence of new reports during these days, European market participants will primarily look to external factors—global news, the dynamics of Wall Street after the holidays in the US, and the situation in commodity markets. Upcoming macro statistics for December (including inflation data and business activity indicators) and corporate forecasts for the end of the year will be the next reference points for Europe.
Corporate Reports from Asia
The Asia-Pacific region is also relatively devoid of corporate events this Saturday. In the largest Asian economies, the reporting season for July to September has almost wrapped up by the end of November. Many technology and industrial giants from China and Japan reported their results in the first half of the month. This week, Chinese internet giant Alibaba presented its financial results—its revenue for Q3 2025 grew approximately by 5% year-on-year (about +15% excluding sold divisions); however, net profit fell by more than half due to significant investments in new business directions. Another indicator of the Chinese consumer market, Meituan, disappointed investors: its quarterly revenue increased by just 2% year-on-year, falling short of forecasts, and due to a price war with competitors, Meituan recorded a net loss—the first in three years.
Nevertheless, these isolated cases do not alter the overall picture: most major Asian firms have already released decent results earlier. Thus, external drivers prevail in Asian markets this weekend. In the absence of fresh reporting, market participants are monitoring the week’s outcomes and global events—particularly signals from the US market and commodity prices—which will set the tone for trading in Asia on Monday morning.
Corporate Reports from Russia
No new reports from major public companies are expected on the Russian stock market this Saturday. The main wave of financial results for the first nine months of 2025 has already been completed in November. Almost all flagships of the Moscow Exchange have previously reported: banks revealed moderate profit growth (e.g., Sberbank reported an increase in net profit of approximately +6% year-on-year under RAS for nine months, demonstrating the resilience of the banking sector amid sanctions and high rates); oil and gas corporations recorded a decrease in revenues against a backdrop of lower energy prices and increased tax pressure; metallurgical and chemical companies disclosed mixed results, balancing between export restrictions and a recovery in domestic demand.
Last week, investors received a few delayed reports: the pipeline monopoly Transneft presented its financial reports for Q3 2025 under IFRS—its results were close to expectations (revenue around 360 billion rubles for the quarter, net profit at the previous quarter's level). Additionally, the energy company RusHydro reported a nearly 29% year-on-year profit increase for the first nine months, confirming a positive trend in the energy sector. With no new releases expected over the weekend, traders on the Moscow Exchange are taking a pause to analyze the information already published and adjust their positions. The further movement of the Russian market at the beginning of the next week will be primarily determined by the global news backdrop—the dynamics of oil prices after the OPEC+ meeting and the general sentiments on global markets.
What Investors Should Pay Attention To
- Results of the OPEC+ Meeting: On Sunday, the decision of oil-exporting countries regarding production for the coming months will be revealed. If OPEC+ meets expectations and keeps current quotas unchanged, the reaction of the oil market will be subdued. However, any unexpected moves—such as announcements of additional production cuts—could drastically change the commodity market's dynamics. Investors should monitor the statement following the meeting, as it will determine the trajectory of oil prices in December and the dynamics of oil and gas sector stocks. Moreover, the Russian ruble and other currencies of commodity-exporting economies may experience significant fluctuations on Monday due to the results of the OPEC+ meeting.
- Holiday Season Sales: The first reporting data from retailers over the weekend sales will provide benchmarks regarding consumer activity. A strong start to Black Friday and Cyber Monday will indicate consumers' willingness to spend, which will improve revenue forecasts for retail and e-commerce companies in Q4. This may support their valuations and overall market optimism. Conversely, if consumer activity falls short of expectations, investors might reconsider growth rate forecasts for the end of the year. Shares of retailers and online platforms could come under pressure, potentially leading stock indices to begin the week with caution.
- Global Risk Appetite Ahead of the New Week: The cumulative weekend news will shape investor sentiment for the opening of trading on Monday. The absence of negative surprises and positive signals (e.g., successful sales from retailers, stable OPEC+ decisions without conflicts) may strengthen risk appetite, propelling futures on key indices upwards ahead of the session start. Conversely, if the weekend brings conflicting or concerning news, markets might face Monday with increased demand for safe-haven assets—such as gold and government bonds—and weakened currencies of developing countries. Investors in CIS countries should monitor news on Sunday evening and the dynamics of futures on stock indices to be prepared for potential spikes in volatility at the start of the new week.
Overall, November 29 is characterized by the assessment of consumer and commodity indicators. The extent to which the start of the holiday sales season succeeds and what verdict OPEC+ delivers will largely dictate the market's initial position heading into December. In the absence of internal events, investors from the CIS countries are advised to pay special attention to external factors. Starting next week, the focus will shift to upcoming central bank meetings and concluding year statistics—but the foundation for this is being laid now, during these calm weekend days when global markets digest signals from consumers and oil producers.
