Stock Market Today, December 8, 2025: Wall Street Edges Higher as Fed Rate Cut Looms and Broadcom, Confluent, Carvana Lead Premarket Moves

U.S. markets are kicking off a pivotal week with a cautious tilt higher on Monday, December 8, 2025, as investors brace for what is widely expected to be the Federal Reserve’s third straight interest rate cut — and one of its most divided meetings in decades. Stock index futures are slightly in the green, while a cluster of high‑profile names including Broadcom, Confluent and Carvana are making outsized moves in premarket trading. ^[1]

At the same time, political risk is creeping into the market narrative. President Donald Trump’s public warning over Netflix’s proposed $72 billion acquisition of Warner Bros Discovery is raising new doubts about the deal and feeding broader unease about regulation and antitrust in an already frothy tech and media landscape. ^[2]

Wall Street Starts Fed Week Near Record Highs

The calm tone in futures follows a week in which Wall Street crept back toward record territory. On Friday, the S&P 500 rose about 0.2% and finished less than half a percent below its all‑time closing high, while the Dow Jones Industrial Average added roughly 104 points (0.2%) and the Nasdaq Composite gained around 0.3%. ^[3]

The advance was driven in part by sharp individual moves: beauty retailer Ulta Beauty jumped more than 12% after posting better‑than‑expected earnings and raising its full‑year revenue forecast, while Victoria’s Secret rallied nearly 18% on a narrower‑than‑feared quarterly loss and upgraded sales outlook. ^[4]

Another standout was Warner Bros Discovery, which climbed over 6% after Netflix agreed to buy the storied studio and its streaming operations in a $72 billion deal — a transaction that has quickly become a lightning rod for both investors and politicians. Netflix shares, by contrast, slipped as markets weighed the financial and regulatory risks of such a large bet. ^[5]

Under the surface, bond yields ticked higher, with the 10‑year U.S. Treasury yield ending Friday just above 4.1%, a reminder that even as stocks flirt with records, fixed‑income markets remain sensitive to any sign the Fed might slow or rethink its rate‑cut path. ^[6]

Futures Tick Higher as Fed Cut Looks Like a ‘Done Deal’

On Monday morning, U.S. stock index futures were modestly higher: around 7:00 a.m. ET, Dow E‑mini contracts were up roughly 24 points (0.05%), S&P 500 futures gained about 7 points (0.1%), and Nasdaq 100 futures advanced just over 0.2%. ^[7]

Multiple outlets, including Yahoo Finance and BizzBuzz, describe trading as “steady” rather than euphoric, reflecting a market that has already priced in a December rate cut and is now more focused on the Fed’s guidance for 2026 than on Wednesday’s headline move. ^[8]

According to CME FedWatch data cited by several reports, traders now assign roughly an 87%–88% probability that the Federal Open Market Committee (FOMC) will lower its benchmark rate by 25 basis points at the conclusion of its December 9–10 meeting. ^[9] That would take the federal funds target range from 3.75%–4.00% down to 3.50%–3.75%, marking a third consecutive cut this year. ^[10]

What makes this meeting especially sensitive is the expectation of an unusually split FOMC. Analysts at Deutsche Bank told Reuters that if four or more officials dissent, it would be the largest division on a Fed rate decision since 1992 — a sign of how tricky it is to balance still‑elevated inflation against a cooling labor market and an economy that is losing momentum. ^[11]

Inside the Fed’s Final Meeting of 2025

A Cut Is Expected — but the Path After That Is Unclear

Broadly, markets see this week’s move as the final act in the Fed’s 2025 easing cycle, but opinions diverge sharply on what happens next year.

Rate trajectory: Commentaries from outlets such as Investopedia and The Economic Times note that many investors expect rates to settle in the 3.5%–3.75% band after Wednesday, with markets pricing in roughly 75 basis points of further cuts by the end of 2026. ^[12]
Dissent risk: Hawks worry that inflation, which remains above the Fed’s 2% target, could re‑accelerate if policy becomes too loose. Doves point to weak hiring data and rising layoffs as reasons to prioritize growth and employment, even at the risk of slightly higher prices. ^[13]

Recent data give both sides ammunition. The Fed’s preferred underlying inflation gauge was running at about 2.8% on an annual basis in September, in line with expectations but still above target. Meanwhile, survey data from the University of Michigan show consumers’ one‑year inflation expectations easing to roughly 4.1%, the lowest since January, which should help reduce the risk of a wage‑price spiral. ^[14]

On the growth side, consumer spending grew only moderately late in the third quarter, and private payrolls recorded their steepest decline in more than two and a half years in November, reflecting softer hiring and rising layoff announcements. ^[15]

Complicating matters further, the Fed still does not have a full run of fresh economic data because of earlier government data delays. The latest nonfarm payrolls report will arrive only after this week’s meeting, meaning policymakers must rely more heavily on partial indicators like job openings, claims and surveys. ^[16]

Politics, Succession and the 2026 Outlook

Politics are also casting a shadow over this meeting. Coverage in The Economic Times notes that President Trump is expected to nominate a successor to Fed Chair Jerome Powell next year, with adviser Kevin Hassett widely seen as a leading contender — an uncertainty that has unsettled parts of the bond market even as investors broadly assume any new chair would still need to contend with sticky inflation. ^[17]

Markets will pore over the Fed’s new “dot plot” of interest‑rate projections, as well as Powell’s press conference, for clues on how aggressively the central bank expects to ease in 2026 and how it assesses the balance of risks between inflation and growth. ^[18]

Big Premarket Movers: Broadcom, Confluent, Carvana and More

While the macro backdrop is dominated by the Fed, Monday’s premarket tape is being shaped by a handful of high‑profile corporate stories.

Broadcom: AI Hopes and Custom Chip Buzz

Broadcom shares are up more than 2% in premarket trading after Reuters reported that Microsoft is in talks with the chipmaker about custom semiconductors, a move that would further cement Broadcom’s role at the center of the artificial‑intelligence hardware boom. ^[19]

The company is also due to report earnings later this week, and market commentary highlights Broadcom as one of the key tech names investors are watching to gauge whether AI‑related spending can justify lofty valuations. ^[20]

Confluent: IBM’s $11 Billion Data Bet

Confluent is one of the morning’s biggest gainers, soaring around 28–30% in premarket trading after reports that IBM is in advanced talks to acquire the real‑time data‑streaming company in a deal valued at roughly $11 billion. ^[21]

For IBM, which has been repositioning itself around hybrid cloud and AI, the acquisition would represent one of its largest software deals in recent years and a significant bet on the importance of real‑time data pipelines for AI workloads. For Confluent shareholders, the potential takeover provides an immediate premium but also raises questions about integration risk and regulatory review.

Carvana: From Meme Stock to S&P 500 Member

Online used‑car seller Carvana is continuing a remarkable turnaround story. The stock is up roughly 8–9% in premarket trading after S&P Dow Jones Indices said the company will join the S&P 500 index in the latest quarterly rebalancing. ^[22]

Index inclusion can force large passive funds to buy shares, often fueling additional short‑term gains. It also caps what Reuters describes as a “stunning rebound” for a company that only a few years ago was widely seen as a distressed pandemic‑era highflyer. ^[23]

Marvell, Tesla, Rivian: Not All Tech Is in Rally Mode

Not every growth stock is benefiting from the current environment:

Marvell Technology is down roughly 6% after being left out of the latest S&P 500 reshuffle, undercutting hopes that forced index buying would give the chipmaker an additional boost. ^[24]
Tesla is off about 1.5% in premarket action after Morgan Stanley downgraded the stock to “equal‑weight” from “overweight,” reflecting worries about competition, margins and a more challenging macro backdrop for big‑ticket purchases. ^[25]
Rivian is down around 3% after announcing a recall of about 35,000 vehicles linked to a fault in seat‑belt pretensioner cables, reminding investors that execution risk remains high in the electric‑vehicle space. ^[26]

Berkshire Hathaway: Succession Watch Intensifies

Beyond pure price moves, governance changes at Berkshire Hathaway are also drawing attention. BizzBuzz reports that longtime Buffett lieutenant Todd Combs — who has been widely viewed as a key part of Berkshire’s investing brain trust — is leaving to take a senior role at JPMorgan Chase and stepping down as CEO of insurer Geico. Nancy Pierce, previously COO, will take over at Geico. ^[27]

The shift comes as Berkshire prepares for Buffett’s eventual handover to Greg Abel, expected to become CEO in 2026, and as the company also transitions its longtime CFO. For investors, the moves highlight the ongoing re‑wiring of leadership at one of the market’s most closely watched conglomerates.

Netflix–Warner Bros Deal Runs into Trump’s Antitrust Fire

In media and tech, Netflix’s planned $72 billion purchase of Warner Bros Discovery is emerging as a major swing factor for sentiment — not just for the streaming sector, but also for markets more broadly.

A detailed Reuters report notes that the deal has already triggered price‑target cuts from several Wall Street analysts and drawn criticism from unions and lawmakers worried about job losses, reduced content output and higher prices for consumers. ^[28]

President Trump escalated the political stakes over the weekend, telling an audience at the Kennedy Center that the combined company’s market share “could be a problem” and vowing that he would be personally “involved” in the regulatory decision. ^[29]

Key points from the evolving saga:

Netflix has agreed to pay a $5.8 billion termination fee if the merger is blocked, signaling confidence but also underlining the size of the gamble. ^[30]
Hollywood unions and bipartisan lawmakers are raising antitrust alarms, arguing that a mega‑streamer combining Netflix, HBO Max and a major film studio could hurt workers and viewers alike. ^[31]
Rival bidder Paramount Skydance has accused Warner Bros Discovery of running a biased sale process, raising the possibility of counter‑bids or even a hostile approach. ^[32]

For markets, the controversy matters on multiple levels. It adds another layer of regulatory uncertainty at a time when large tech and media deals are already facing tougher scrutiny, and it injects political risk directly into one of the most closely watched corporate transactions of the year.

Gold, Silver and the ‘Safe‑Haven’ Trade

While equities edge higher, precious metals are flashing their own message about investor anxiety.

Gold prices rose around 0.4% on Monday to roughly $4,214 an ounce, supported by a weaker dollar and growing conviction that the Fed will cut rates this week. U.S. gold futures for February delivery hovered near $4,243. ^[33]

Silver, meanwhile, has been even more explosive. The metal briefly hit a record high above $59 per ounce on Friday and has roughly doubled in price this year, fueled by supply deficits and its designation as a “critical mineral” by U.S. authorities. ^[34]

UBS analyst Giovanni Staunovo told Reuters that lower interest rates and a softer dollar are boosting demand for non‑yielding assets like gold and silver, and projected that gold could reach $4,500 an ounce next year if the Fed delivers additional cuts. ^[35]

At the same time, a recent warning from the Bank for International Settlements about a potential “double bubble” in both gold and stocks is a reminder that safe‑haven trades can themselves become crowded and vulnerable if sentiment turns quickly. ^[36]

Global Backdrop: China’s Trade Surplus and Mixed Overseas Markets

Internationally, the mood is similarly cautious:

China has reported a record annual trade surplus of more than $1 trillion for 2025, with exports rebounding in November and surging to regions such as Southeast Asia, Latin America and Africa even as shipments to the U.S. remain under pressure. ^[37]
European and Asian equities are mixed, reflecting the same push‑and‑pull between optimism over lower U.S. rates and concern that global growth may be slowing more sharply than markets would like. ^[38]

Together, those trends underscore how tightly global markets are now linked to U.S. monetary policy — and how a misstep by the Fed could ripple far beyond Wall Street.

What Investors Are Watching Next

With the Fed decision looming, markets will be hypersensitive to both economic data and corporate headlines in the days ahead.

Key Economic Releases

According to schedules compiled by outlets including The Economic Times, BizzBuzz and Investopedia, the following data points will be closely watched this week: ^[39]

Delayed JOLTS job‑openings reports for September and October, offering insight into hiring, quits and layoffs.
NFIB Small Business Optimism and weekly jobless claims, which can show whether labor‑market softness is spreading.
Wholesale inventories, the trade deficit, and updated figures on the federal budget, all of which will feed into growth expectations for early 2026.

Earnings and Corporate Events

On the corporate side, the week’s highlights include:

Tuesday: AutoZone, GameStop, Campbell Soup and several consumer names. ^[40]
Wednesday: Oracle and Adobe, both key to measuring demand for cloud and AI‑adjacent software.
Thursday: Broadcom and Costco, which together will provide a window into AI infrastructure spending and consumer resilience amid tariffs and inflation. ^[41]

Investors will also keep monitoring headlines around the Netflix–Warner Bros transaction, IBM’s pursuit of Confluent and further clues about Berkshire’s succession plan — all of which could continue to sway sentiment in specific sectors.

The Bottom Line

For now, Wall Street appears content to hover near record highs and let the Fed take center stage. Futures are edging up, AI‑linked names like Broadcom and data‑infrastructure plays like Confluent are enjoying powerful premarket rallies, and Carvana’s S&P 500 promotion is injecting fresh momentum into one of the market’s most dramatic comeback stories. ^[42]

But beneath the surface, fractures are visible: Fed officials are divided, labor data are softening, inflation is still above target, gold and silver are surging, and political scrutiny — from Trump’s comments on the Netflix deal to the looming Fed leadership transition — is increasingly intertwined with market outcomes. ^[43]

How the Federal Reserve balances those cross‑currents this week will go a long way toward determining whether December finishes as a classic “Santa rally” — or the moment investors start questioning just how much good news is already in the price.