Detailed Overview of Economic Events and Corporate Reports for Saturday, November 22, 2025. Key Topics: G20 Summit, Key Macroeconomic Signals, Investor Expectations, and Impact on Global Markets.
Saturday, November 22, 2025, arrives following a busy week for financial markets. As stock exchanges prepare to close for the weekend, they digest a stream of macroeconomic data from the past few days—ranging from PMIs across major economies to inflation figures and consumer confidence data. The day’s highlight is the long-awaited G20 summit in South Africa, which has the potential to set the tone for global markets heading into the new week. Against this backdrop, corporate reporting takes a backseat: no significant corporate earnings releases are scheduled for the weekend, shifting investor attention to the political and macroeconomic agenda.
For participants in global equity markets—from Wall Street to Asian exchanges (including indices such as S&P 500, Euro Stoxx 50, Nikkei 225, and the Russian Moscow Exchange)—the key task becomes evaluating the conflicting signals received by the end of the week. On one hand, the services sector in the latest PMIs demonstrates resilience, while industrial performance shows signs of weakness; inflationary pressures remain elevated in a number of countries, though there are indications of a slowing price rise. On the other hand, increased uncertainty in the geopolitical arena (disagreements regarding U.S. participation in the G20, among others) influences market sentiment. In this environment, the outcomes of Saturday's events will be closely monitored by investors, shaping trading sentiments on Monday.
Global Agenda: G20 Summit in South Africa
A two-day summit of G20 leaders opens in Johannesburg, marking the first-ever G20 meeting on African soil. The forum's theme is “Solidarity, Equality, Sustainability,” with leaders from developing countries expected to emphasize reducing global inequality, alleviating the debt burden on the poorest economies, and financing the green transition. South Africa's presidency is advocating for support to developing countries in adapting to climate change and attracting investments in infrastructure. For emerging markets, this summit presents an opportunity to relay their agenda for restructuring external debts and gaining broader access to growth financing.
However, the summit is taking place against the backdrop of an unprecedented diplomatic rift. The U.S. administration, led by Donald Trump, is officially boycotting the meeting, disagreeing with its agenda and accusing the host country of bias. Washington is sending only a chargé d'affaires to the closing ceremony—effectively leaving an “empty chair” where the U.S. leader would typically sit. The absence of the U.S. at the negotiation table heightens perceptions of fragmented global economic governance. Instead of a traditional unified communiqué, the world may witness the formation of blocks: countries from the EU, China, India, and others striving to develop collective solutions on climate and debt, while the U.S. distances itself from these efforts.
Investors are keeping a close eye on the developments of the G20 negotiations. On the first day of the summit, bold statements could emerge—such as calls for reform of international financial institutions or initiatives on emissions control and supporting energy transitions. Geopolitical issues are also likely to be discussed: forum participants may address conflict zone situations and sanction regimes, which is crucial for energy markets and specific countries, including Russia. Any signals from the summit—ranging from signs of cooperation among key powers to deepening disagreements—could significantly affect global markets ahead of the new week.
For the markets, the absence of the U.S. from the dialogue means increased uncertainty. This fragmentation of global coordination may impact sentiments in the following ways:
- potentially higher risk premiums for emerging market assets due to reduced confidence in multilateral initiatives;
- shifting investor focus towards local growth drivers and domestic demand in major markets, as achieving unified global solutions becomes more challenging;
- growing interest in companies and sectors poised to benefit from supply chain restructuring and production localization amid geopolitical tensions.
The summit will conclude on Sunday, November 23, with an anticipated handover of the G20 presidency from South Africa to the United States. This moment is already clouded by diplomatic conflict—as President Ramaphosa commented, he would not prefer to “pass the baton to an empty chair.” Markets will react on Monday to the final communiqué (if one is reached) or its absence. The focus will be on agreements related to alleviating the debt crisis in developing countries, climate commitments from major economies, and any signs of warming or deterioration in relationships among the world’s leaders during the summit.
U.S. Corporate Reports
The American corporate calendar looks almost vacant this weekend—with no financial reports scheduled for release on Saturday. This is not surprising, as the earnings season in the U.S. is nearing its end. Most companies within the S&P 500 have reported their third-quarter results earlier in November, and no significant releases are expected until next week. The outgoing week featured a series of important reports that set the market's tone: technology giant NVIDIA exceeded profit forecasts due to heightened demand for AI chips, triggering a surge in the Nasdaq and bolstering confidence in the ongoing "AI boom." Major retail chains also reported their results—both Walmart and Target exhibited stable revenue, signaling continued consumer demand even amid elevated prices and rates. After such a news-rich period, the current weekend affords the market a breather: investors have time to absorb the information received before the remaining few companies report next week. The focus is on whether evaluations regarding the state of the economy are justified: strong corporate earnings from several companies sustain optimism, yet the absence 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 expect new corporate publications this Saturday. Major issuers in the region (including companies from the Euro Stoxx 50 index) have already announced their third-quarter financial results in the preceding weeks of October and November. The earnings season in Europe is coming to a close, and no significant releases are scheduled for the weekend. After the wave of data at the start of the month, a relative calm now prevails: European investors are digesting previously published reports and macroeconomic statistics. For instance, recent results from industrial conglomerate Siemens and the Eurozone banking sector confirmed a mixed picture in the economy—growth in some niches persists, while consumer sentiments appear cautious. In the absence of new reports during these days, European market players will primarily focus on 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 to release annual results and forecasts, activity around which will ramp up closer to the year-end.
Asian Corporate Reports
The Asia-Pacific region is also lacking in corporate events on Saturday. In major Asian economies, the earnings season for July-September is already nearly concluded. In China and Japan, most technology and industrial giants reported their figures before mid-November: for example, leading Chinese e-commerce companies released results (JD.com – November 13, showing double-digit revenue growth; Alibaba is set to announce data next week), while Japanese automakers and electronics have completed quarterly reports by this time. Therefore, no significant publications are scheduled for Asia on November 22. Investors in the region are taking a pause, assessing overall trends: recent company reports in China indicated an uneven recovery in domestic demand, while Japanese corporations reported profit increases alongside a weak yen. The absence of new figures over the weekend draws Asian investors' focus to external events—the outcomes of the global G20 summit, as well as signals from the U.S. and Europe, which will set the tone for Asian trading on Monday morning. Additionally, regional markets are keenly watching commodity price dynamics and currency exchange rates: for instance, the stability of the yuan and yen will largely depend on the rhetoric of global leaders and expectations regarding the monetary policies of major central banks.
Russian Corporate Reports
In the Russian stock market, no new reports from major public companies are anticipated this Saturday. The main wave of financial results publications for the first nine months of 2025 has already passed throughout November. Many leading issuers from various sectors have revealed key figures: banks provided information on profits and reserves (for example, Sberbank indicated a growth in net profit by about +6% year-on-year according to RAS for the first nine months, reflecting the relative stability of the banking sector amid sanctions and high rates), while oil and gas companies reported declines in profits due to lower energy prices and tax burdens, and metallurgical and chemical sectors showed mixed results, balancing between export restrictions and recovering domestic demand. Thus, Saturday does not bring new corporate information for the Russian market. Investors on the Moscow Exchange are taking this pause to analyze already published figures and assess the prospects of specific sectors. In the absence of fresh reports, attention shifts to external factors—global news from the G20 summit, trends in oil and metal prices, as well as the ruble's exchange rate, which reacts sensitively to any geopolitical backdrop changes. The Russian market enters the new week in search of drivers: local reporting has temporarily taken a back seat, and the further movement of the Moscow Exchange index will predominantly be determined by macroeconomic and geopolitical signals.
Key Considerations for Investors
During the weekend and leading up to the markets opening on Monday, investors should focus on several key points:
- Results of the G20 Summit: the conclusion of the leaders' meeting in Johannesburg and the final statement (or its absence) will become a key risk factor. If participants manage to agree on a number of issues—such as support measures for development or alleviating the debt crisis—this could moderately improve market sentiment, particularly in the emerging markets segment. However, an escalation in disagreements, the absence of the U.S. at the negotiation table, and potential sharp statements (on trade, sanctions, climate) could increase volatility: on Monday, investors might observe a rise in demand for safe-haven assets (gold, bonds) and pressure on emerging market currencies, including the ruble.
- Start of the Holiday Sales Season: next weekend, the global economy will enter an active consumer period—the “Black Friday” and Cyber Monday sales will kick off in the U.S. and Europe. The upcoming week will provide the first assessments of how willing consumers are to spend amidst high inflation and rising borrowing costs. Any data and forecasts from retail chains will be crucial for investors: a strong start to the holiday sales could serve as a positive signal, supporting stocks of companies in the retail, e-commerce, and related sectors (from electronics manufacturers to logistics providers). Conversely, disappointing consumer activity may lead markets to revise growth expectations for Q4, affecting retailer stocks and potentially heightening caution across stock indices.
- Risk Appetite and Market Sentiment: the overall configuration of news over the weekend will influence investor sentiment at the start of the new week. Attention should be given to whether conflicting trends persist: robust demand in the services sector amid weak industrial performance and disarray in the policies of leading powers. Should geopolitical tensions escalate following the G20, an increase in demand for safe-haven instruments and currencies (such as the yen and Swiss franc) may be expected, while stocks in emerging markets could feel downward pressure. Conversely, any signs of de-escalation and constructive dialogue between leaders, supported by reasonable macro indicators, could enhance risk appetite. In conditions of uncertainty, investors should exercise caution with overly risky bets, monitor futures on major indices on Sunday night, and be prepared for increased volatility at the start of the trading week.
Overall, the weekend news backdrop is centered around global events and sentiments. The outcomes of the G20 summit and the signals provided by world leaders will significantly determine market movements in the coming days. Investors from the CIS countries are advised to pay particular attention to external news this weekend: geopolitics and the global economy are currently taking precedence, while corporate reports temporarily take a backseat. Beginning Monday, the market focus will shift towards the pre-New Year consumer season and final economic data for the year, but the starting point for this surge is currently being shaped—in the quiet of the weekend, amidst negotiations in Johannesburg, and in anticipation of the first figures from festive sales.
