Thursday, 24 September 2026

Good morning

Your daily brief from the Kristal Research Desk.

2 min

Kristal Pulse · today

Cheaper oil lifts stocks as Brent slips below $100 and the AI trade runs

Your 3-minute daily market update - simplified for busy investors.

The week ahead

Full calendar

TodayUS initial jobless claims, German IFO; policy decisions from Riksbank, SNB, Norges Bank and Banxico; Xi begins US state visit

TodayDarden and Costco earnings

TodayTrump–Xi summit in Washington on AI, tariffs, critical minerals, Iran and Taiwan; tech CEOs expected at dinner

TodayUS sells $44 billion of 7-year notes

TodaySwitzerland's SNB rate decision

25SepUS August durable goods orders and Atlanta Fed Q3 GDP update; Fed's Williams and Hammack speak

29SepOpenAI's DevDay

29SepUS ban on some Canadian dairy, alcohol and motorcycle imports due to take effect if trade standoff holds

29SepMongoDB investor day

1OctAccenture earnings

Latest

All content

Kristal Lens

Fed hikes for first time since 2023 as 10-year yield breaks 5% and diesel hits a record

A unanimous, fully-priced quarter-point increase to 3.75–4.00% mattered less than Chair Warsh refusing to call money tight, a Saudi pipeline attack sending WTI above $105, and record $6.39 diesel the Fed concedes it cannot fix.

Deepakshi18 Sept2 min

Kristal Reads

Nu Holdings 2Q26: The Left Tail, Narrowed

Nubank posted its first billion-dollar quarter, but the note argues the widening credit-delinquency gap versus Brazilian peers—tied to owning the primary customer relationship—may matter more than AI itself.

Talk to your advisorPremium

Webinar

Fiscal Dominance: The New Reality for Global Markets

Webinar Recording | Fiscal Dominance

IC Outlook

IC Outlook - Q3 2026 | From Fog to Formation

Kristal's Investment Committee made its biggest portfolio pivot since April at its July 6, 2026 meeting, re-engaging selectively with risk after the Strait of Hormuz shock exposed which parts of the global system proved resilient.