CNBC Business News Update - Market Midday: Stocks Higher, Trump Halts Wind Projects, Powerball 1.6 Billion Tonight 12/22/25

Episode Date: December 22, 2025

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored and reported by CNBC's Jessica Ettinger. 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 Jessica Eddinger, CNBC. Lots of green on the screen this afternoon on Wall Street. It's a holiday shortened trading week. Because of Christmas on Thursday, the Dow is up 258 points. It's being led higher by drug maker Merck shares, which are up more than 2%. The S&P 500 index up 42 points. The NASDAQ up 140 points. Major average is all in the green now for the month. The S&P 500 index up 16% so far for the year 2025, and there are a number of investors who think the stock market gains will continue into the new year. I think that modest growth with moderate to moderating inflation, that's a good setup for risk assets, and that's really what we're looking for in 2026. That's Wells Fargo, Scott Wren on CNBC, and here's Charles Schwab's Lizanne Sanders on CNBC.

Not that history ever serves as a perfect guide. I love Warren Buffett's quote about if predicting market returns was just about history, then librarians would be the richest people in the world. But if you do look back at three strong or up years in a row, more often than not, they're followed by another decent year. President Trump halting wind projects today, including Coastal Virginia offshore wind. Coastal Virginia is the largest project of its kind in the United States. Dominion shares are down 4%.

Paramount Skydance is not done trying to buy Warner Brothers Discovery. Here's CNBC's David Faber. Many of the objections raised in the first response we got from Warner Brothers to that $30 all-cash tender offer from Paramount. They have tried to meet, namely around financing. Now they have obviously guys addressed many of those concerns. There's plenty of complexity here and things that Warner Brothers is going to have to explain in terms of 2775 from Netflix, cash and stock, of which has come down a little bit because the stock is below the collar versus $30 a share that now seemingly, guys, is much safer from a board perspective, at least to the extent it has addressed those concerns. Retailers bracing for the final few days of the holiday shopping season and so far so good for some of the big apparel chains. Victoria's Secret is crowded.

You're continuing to see Hollister very crowded and packed. You look at urban outfiters, particularly in free people, and it's very strong. And Steve Madden, it's cold out, so people are wearing tall boots out there, and also the off-pricers, like T.J. Max. That's who's impressing me. And Telssey advisors, Dana Telsie, tells CNBC. It's all about new product. It's key for retail. I think you have concerns out there, certainly, about some of the women's apparel. retailers. You need the Tommy Bahamas to improve. You look at Lulu. Look what has happened with Lulu.

They need newness because activeware needs to be reinvigorated. Disney's Avatar Fire and Ash won the weekend box office, but it disappointed. It brought in about $88 million, but that was well below estimates. The Powerball jackpot tonight, $1.6 billion after there was no winner over the weekend. There's been no jackpot winner at all since September. Jessica Eddinger, CNBC. Become a smarter investor with CNBC Pro, 24-7 access to market-moving news and interviews with three global live streams, subscriber-only content, plus exclusive live events. This is my first time at the stock exchange, and it's been awesome. To be on the floor, I just can't believe I'm here.

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