Major Averages Lower as Markets Await Fed Rate Decision
The major averages were lower near noon as markets brace for the Federal Reserve's rate-decision later this week. The core of sentiment seems driven by widespread expectations that the Fed will deliver a 25 basis-point cut, though there still remains unease under the surface. The challenge facing the Fed given uncertainty over what constitutes a "neutral" interest rate could make this week's meeting contentious.Looking to commodities, gold was fractionally lower near noon, while oil dropped to below $60 per barrel.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:IBMConfluentfor $31 per share, or a total enterprise value of $11BParamount Skydancehasof $30 per share for all of Warner Bros.following Netflix'sdeal with the company late last weekJPMorganChasehas named Todd Combs, Investment Manager of Berkshire Hathaway, to head theof the firm's new Security and Resiliency InitiativePresident Trump said anis coming this weekMicrosoftis in talks to design custom chips with Broadcom,2. WALL STREET CALLS:Morgan Stanley analyst Andrew PercocoTeslato Equal Weight and upgraded General Motorsto Overweight as the firm adjusted ratings in the autos and shared mobility group following a change in analystsMorgan Stanley's Percoco alsoRivianand to Lucid Groupto UnderweightBenchmarkMarvellto Hold, citing "a high degree of conviction" that the company has lost both Amazon'sTranium 3 and 4 designs to its Taiwanese competitorPivotal Research and RosenblattNetflixto Neutral-equivalent ratings after the "surprise announcement" of an agreement to acquire Warner Bros.'studios and HBO businessesHSBCVisaand MasterCardto Buy3. AROUND THE WEB:Metais delaying the release of its mixed-reality glasses codenamed "Phoenix" from the second half of 2026 to the first half of 2027,South Korea's industry ministry and Arm Holdingshave signed an agreement to strengthen the nation's semiconductor and AI sectors, according to a presidential policy adviser,Eli Lilly'sMounjaro will be added to China's state-run health insurance scheme for patients with type 2 diabetes beginning January 1,Anuradha Mittal, the chair of Ben & Jerry's independent board, said she has no plans to resign despite pressure from Unileverahead of Monday's public spinoff of its Magnum division,Apple's (AAPL) Johny Srouji, who oversees the company's chip division, told staff that he's staying at the company,4. MOVERS:Wave Life Sciencesincreases in New York after announcing data from itsStructure Therapeuticsgains after reporting data from theImmutephigher in New York afterwith Dr. Reddy'sfor Eftilagimod AlfaLegend Biotechfalls after announcing newCoreWeavelower after announcing a5. EARNINGS/GUIDANCE:Kamadafor FY25Treasure Globalfor FY26Byrna Technologiesand provided guidance for FY25Virco, with EPS and revenue lower year-over-yearOracleon December 10INDEXES:Near midday, the Dow was down 0.44%, or 212.24, to 47,742.75, the Nasdaq was down 0.20%, or 46.99, to 23,531.14, and the S&P 500 was down 0.36%, or 24.77, to 6,845.63.
