The U.S. economy is on a K-shaped trajectory. Growth is being fueled by the spending of affluent consumers, who are getting richer and richer thanks to a rebound in capital markets. And the poor are getting richer and having to cut back on their spending. It's like a tower of jenga blocks, where many of the blocks at the bottom have been removed, and the upper blocks - the last pillar of the economy - could be hit by a stock market downturn.

The Fragile Tower: Why 2026 could be a pivotal year for the K-shaped U.S. economy 

Saks Global's bankruptcy could be the most high-profile among department stores since the COVID-19 pandemic, notes the WSJ.

The owner of luxury department stores in the US has replaced its CEO. The WSJ writes that it is on the verge of bankruptcy.

Dollar Tree Inc. R

Dollar General Corporation

Five Below, Inc.

Walmart Inc.

In early December, several US fixed-price and discount retail chains reported growth in quarterly sales.

Which discounters are capitalizing on the tendency of US consumers to save money?   

The S&amp;P 500 Index has added 17.9% since the beginning of the year, above its historical average of 10.6% over the past 68 years.

Investment banks have compiled a list of risks to the S&amp;P 500 in 2026

Sapporo Holdings Limited

KKR & Co. Inc.

Gold, silver and platinum are hitting all-time highs amid demand for safe-haven assets and expectations of rate cuts in the US. Washington postpones the introduction of duties on Chinese semiconductors until 2027. These and other topics - in our review of key events in the morning of December 24.

Highlights for the morning: precious metals records, U.S. duty pause against China, Motive IPOs

It's a sign that Donald Trump's administration is trying to stabilize relations with Beijing, according to Bloomberg

U.S. postpones imposing duties on Chinese chips until mid-2027

In which regions of the world should investors look out for flocks of "black" and "gray" swans?

What political events investors should watch out for in 2026

In this holiday-shortened trading week, investors will focus on the prospects for a <a href="https://oninvest.com/article/ralli-santa-klausa-nikogo-ne-udivit-glavnye-indeksy-ssa-vyrosli-vtoroj-den-podrad">"Santa Claus rally"</a> and will also keep an eye on the release of macroeconomic data in the U.S., including a preliminary estimate of third-quarter GDP for the world's largest economy, The Wall Street Journal <a href="https://www.wsj.com/economy/week-ahead-for-fx-bonds-to-jan-2-u-s-data-in-focus-in-quiet-holiday-period-84a7f2ff?mod=central-banking_news_article_pos5#:~:text=Advance%2Destimate%20gross%20domestic%20product%20data%20for%20the%20third%20quarter%20on%20Tuesday%2C%20Dec.%2023%20will%20likely%20be%20the%20highlight">reported.</a>

US GDP data and stock market vacations: what investors need to know this week

Due to the government shutdown, this is the publication of the first consumer price data since September

US inflation came in well below expectations. What does this mean for the Fed?

Chevron Corporation

Exxon Mobil Corporation

Eni S.p.A.

BP p.l.c.

TotalEnergies SE

Shell plc

In October 2025, the US imposed blocking sanctions on Rosneft and Lukoil. This raised questions about the fate of their foreign assets, especially in the case of Lukoil, which is traditionally focused on international expansion. What scenarios and contenders for this company's foreign assets are currently being discussed?

How Russian company Lukoil is trying to find buyers for its foreign assets

NVIDIA Corporation

Micron Technology, Inc.

BP will change its CEO, putting a woman - Meg O'Neill - at the helm of a major oil and gas company for the first time in history. Nvidia board member Harvey Jones sold shares in the company, which he had owned for almost 30 years. The report of memory chip maker Micron supported the market after the collapse of the technology sector. These and other topics - in our review of key events for the morning of December 18.

Highlights for the morning: BP changed CEO, insider sold Nvidia shares, Micron supported the market

Oracle Corporation

The company denies any problems and says negotiations for construction of the massive project in Michigan are on schedule

USA