Detailed Overview of Economic Events and Corporate Reports for November 16, 2025. G20 Meeting, Japan's Preliminary GDP for Q3, and Upcoming Reports from Companies in the U.S., Europe, Asia, and Russia.
Sunday offers a relatively calm agenda for global markets, but with several important indicators on the horizon. The focus of the day is the G20 Sherpas meeting in South Africa, where global economic issues and the final agenda for the upcoming leaders' summit are being discussed. The Asian session is preparing for the release of Japan's preliminary GDP data for the third quarter, which could influence the yen's exchange rate and investor sentiment in the region. In the U.S. and Europe, there are no major macroeconomic releases due to the holiday, shifting attention towards the week's outcomes and signals from the G20. On the corporate front, the quarterly earnings season is nearly concluded: no new reports from blue-chip companies in the S&P 500 or Euro Stoxx 50 are expected, although some companies from Asia and emerging markets continue to publish their results. It is essential for investors to assess the limited weekend occurrences in the context of broader dynamics: geopolitics and the G20 meeting ↔ data from Asia ↔ expectations for monetary policy in the coming week.
Macroeconomic Calendar (MSK)
- All day — G20: start of the final Sherpas meeting ahead of the leaders' summit (Johannesburg, South Africa, November 16-19).
- 02:50 (Mon) — Japan: GDP for Q3 (preliminary estimate).
G20: Global Agenda and Policy Coordination
- The final G20 Sherpas meeting aims to finalize the draft communique for the summit; the main focus is on measures to sustain global growth, reforms of international financial institutions, climate initiatives, and promoting development.
- The political backdrop is complicated: the U.S. has announced no official delegation to the upcoming summit, highlighting divisions within the G20. Nevertheless, other participants are eager to demonstrate unity on key issues - from easing debt burdens for developing countries to coordinating energy policies.
- Markets are watching for any statements from Johannesburg: a G20 consensus on stimulating the global economy or climate financing could support risk appetite, while signs of geopolitical tensions could increase demand for safe-haven assets (gold, yen).
Japan: Preliminary GDP Data for Q3
- Japan's economy, which showed +0.5% QoQ growth in Q2 2025 (annualized +2.2% YoY), may have slowed down from July to September. Predictions suggest the first quarterly decline in GDP in a year and a half (~–0.5 to –0.7% QoQ), attributed to a drop in exports, a slowdown in housing investments, and inventory reductions.
- Importantly, domestic demand remains relatively resilient: household consumption and business capital expenditures are expected to continue moderate growth. This indicates a temporary nature to the current downturn – for instance, exports may have declined after earlier inventory buildup ahead of U.S. tariffs, while construction activity adjusted after regulatory changes.
- For markets, GDP data will be a key indicator for monetary prospects: a deeper decline could heighten expectations for dovish policies from the Bank of Japan and weaken the yen, supporting exporter stocks. However, if the economy unexpectedly avoided a downturn or if the decline was minimal, it could bolster confidence in recovery, potentially spurring growth in the Nikkei 225 and strengthening the yen.
Corporate Reports: U.S. and Europe
- In the U.S., the Q3 earnings season is essentially over. Most companies in the S&P 500 have reported, generally showing a recovery in profits after last year's downturn. The holiday means no new reports, so investors are digesting previously published results. The focus is on overall trends: the retail sector showed stable consumer demand, technology companies mostly exceeded expectations, and industrial margins have rebounded amidst easing inflationary pressures.
- European markets are also experiencing a pause in corporate releases. In the Euro Stoxx 50, the vast majority of issuers have already disclosed their quarterly results, with an overall tone being positive-neutral: banks and energy companies have benefited from rising interest rates and commodity prices, while the consumer sector is experiencing mixed demand. In the absence of new reports on the holiday, European investors are turning their attention to external signals - the situation in China and the outcomes of the G20 meetings - evaluating how they may impact the outlook for regional exporters.
Corporate Reports: Asia and Russia
- In Asia, the publication of various corporate results continues. In China and other Asian markets, several companies with non-standard fiscal years or smaller issuers are reporting their results for July-September during this period. For example, investors are expecting financial results from major Chinese retailers and technology firms next week, which will add volatility to the sector. On the Japanese market, most major companies have already reported earlier in November, so no new driver from earnings is anticipated on Sunday.
- On the Russian market (MOEX), the season of publishing results for the 9 months is coming to an end. Key blue chips - banks, oil and gas companies, and metallurgists - reported in the first weeks of November, predominantly showcasing revenue growth due to a weak ruble and high prices for export goods. The remaining reports are scattered (mainly medium and small issuers) and do not significantly impact the index. Investors in Russia are shifting their focus to companies' forecasts on dividends and operational metrics for the fourth quarter, as well as external factors including oil dynamics and sanction risks.
Other Regions and Indices: Euro Stoxx 50, Nikkei 225, MOEX
- Euro Stoxx 50: The lack of weekend statistical releases means that the sentiment in European markets will be shaped by global news. On Monday, investors in Europe will evaluate the outcomes of the G20 meeting and any statements regarding global trade or climate policy. Moreover, after weak macro data from China (slowdown in industrial production and retail sales in October), European exporters may come under pressure if signs of cooling demand are confirmed.
- Nikkei 225 / Japan: The Japanese market enters a new week considering GDP data and the external backdrop. The Nikkei 225 has shown upward momentum in 2025, fueled by a weak yen and an influx of foreign investments. Now, the attention is shifting to macro indications: confirmation of GDP decline may temporarily dampen enthusiasm, particularly in the financial and real estate sectors. However, resilient domestic demand and lack of surprises from the Bank of Japan will support investors. Sentiment will also be influenced by the upcoming report from the largest U.S. chipmaker (Nvidia) this week – serving as a barometer of demand for technology, which is also important for Japanese export-oriented companies.
- MOEX / Russia: The Russian stock market concluded the week with gains, partially driven by stable oil prices and an influx of retail investors. In the absence of external catalysts on Sunday, the dynamics of the local market are determined by technical factors and expectations for the new week. The ruble has recently strengthened due to tax-related currency sales, which somewhat restrains the MOEX index rich in exporters. Nevertheless, the strong dynamics of commodity markets and record dividend payouts will continue to attract interest in Russian securities. Investors should keep an eye on any potential statements from authorities or companies over the weekend that could impact individual stock prices on Monday.
Daily Summary: Key Points of Interest for Investors
- G20 and Geopolitics: Any agreements or disagreements voiced at the G20 meeting will set the tone for the start of the week. Unity on issues concerning global economic and trade support will bolster optimism in markets, while escalation in rhetoric between major powers (e.g., the U.S. and China) may, conversely, drive demand for "safe havens."
- Data from Asia: Market reaction to Japan's GDP will be immediate – especially in the currency market. A sharp deviation from expectations could trigger significant movement in the USD/JPY exchange rate, setting the momentum for Asian indices. Investors need to assess Asian dynamics on Monday morning to adjust their positions before European markets open.
- Liquidity and Weekend Risks: With major exchanges around the world closed on Sunday, this could lead to low liquidity in certain markets (e.g., the Middle East, where trading continues) and sharp moves in unexpected news contexts. It is advisable to keep the portfolio protected: using stop orders and hedging, considering potential gaps at market open on Monday.
- Start of a New Week: The information lull over the weekend presents a good opportunity for investors to reassess macro and micro factors. The upcoming week will bring important events (Fed minutes, inflation data in Europe, key reports from individual companies), so now is the time to establish levels and strategies. A calm Sunday can be utilized for portfolio balancing and preparing for potential volatility.
