CNBC Business News Update - Market Close: Markets Rally After Fed Rate Cut, Warner Bros. Rallies On Bidding War Speculation, YouTube TV To Offer Genre Plans 12-10-2025

Episode Date: December 10, 2025

The latest in business, financial, and markets news and how it impacts your money, reported by CNBC's Peter Schacknow Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Peter Shack now, CNBC. It was rally day for Wall Street after the Federal Reserve delivered the expected quarter point interest rate cut that didn't spur the markets much at first, but the major averages then added to gains during Fed Chairman Jerome Powell's news conference. He said the Fed would wait and see before making any more rate moves, but said he did not think a rate hike as the Fed's next move was anyone's base case. The Dow jumped 497 points to close at 48,058. The S&P 500 gained 7 tenths of a percent or 46 points and finished four points shy of its first record close since late October. The NASDAQ was higher by 78 points or a third of 1%.

Conference Board Chief economist Dana Peterson says it makes sense for the Fed to take a wait-and-see attitude. Right now we're in the dark when it comes to data, and we don't even know when some of the data are going to be coming out. And so it's very difficult to get a handle on where the economy is right now and where it's going. And so I think lots of people are just hedging their bets and saying, well, worst case scenario, we get another inflationary story next year because there's so much dissension on the Fed. Warner Brothers' discovery was among the day's top performers in the S&P 500 gaining 4.5%. Speculation is growing that a bidding war is brewing and that current players, Netflix and Paramount, will be joined by others.

All this despite Warner having already struck a deal to be bought by Netflix. Google's YouTube TV is planning to roll out genre-based subscription plans. At the forefront is a sports plan, which would include channels such as ESPN and FS1, as well as the ability to add premium offerings like NFL Sunday ticket. Peter Shack now, CNBC. Celebrating 30 years of Squatbox and streaming on CNBC Plus.