CNBC Business News Update - Market Open: Stocks Mixed As Investors Await Fed Decision, Exxon Boosts Forecast, Home Depot Cuts Profit Outlook 12/9/2025

Episode Date: December 9, 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. Stocks are mixed as investors wait for the results of the two-day Fed meeting, which gets underway today. The Dow Industrials have 130 points at 47,869, but the S&P 500 is right at break-even, the NASDAQ, down a quarter percent or about 63 points. The latest interest rate decision will be announced tomorrow afternoon, followed by Fed Chairman Jerome Powell's news conference. Former Cleveland Fed President Loretta Mester agrees, with the market consensus that the Fed will cut rates tomorrow by a quarter point, but she is not sure they should continue on that path. I hope they pause for a while and really assess where the economy is going.

And I hope that at the press conference, we get a good sense of where they're seeing the economy going. Counting, you know, dissents and then thinking about, well, do they have enough to cut again or not, doesn't really tell us how they're thinking about what the outlook for the economy is. And that should be driving their policy decision. Oil Giant Exxon is raising its earnings growth in oil production forecasts through the year 2030. It now sees $25 billion in earnings growth over that period, up by $5 billion from a previous forecast. CVS is forecasting 2026 profit above prior estimates as the pharmacy chain sees the benefit of a turnaround plant. CVS shares are up by nearly 3% this morning.

On the other side of the earnings coin, Home Depot is forecasting 2026 comparable store sales growth and profit below analysis. estimates. Americans have cut back spending on home renovations and large projects due to high borrowing costs. Home Depot shares are down 2.5%. Peter Shack now, CNBC. The CNBC Sport universe is growing. We're covering the intersection of sports and business unlike anyone else in the game. For all of our latest stories, videos, and more, go to CNBC.com slash sport.