Show Notes
US stock futures are higher after one of the wildest sessions of the year, with the S&P 500 logging its most significant intraday reversal since the peak of tariff turmoil in 2018 — surging 1.4% early before plunging 1.6% by the close. New York Fed president John Williams helped stabilize sentiment this morning, signaling he “still sees room” for a December rate cut, a notable shift given the stronger-than-expected September jobs report. Williams — part of the influential Fed “troika” alongside Powell and Jefferson — said policy needs to move “closer to neutral,” even as tariffs temporarily stall progress on inflation.
Bitcoin (BTC-USD) is extending a brutal decline, sliding below $85,000 after more than $1 billion in liquidations were hit in a single hour. The token is now heading for its worst month since the 2022 crypto crash, down more than 30% from its October record as cross-asset selling accelerates. Analysts warn the next key support sits near $75,000.
Retail earnings reinforce the K-shaped consumer story: Walmart (WMT), Ross (ROST), and TJX (TJX) continue to win by delivering price-driven “value” across all income levels, while mid-tier shoppers remain stretched. Gap (GPS) surprised to the upside with strength in Old Navy and Gap brand, helped by lower discounting and viral marketing campaigns like its K-pop-backed “Milkshake” spot.
Meanwhile, the bidding war for Warner Bros. Discovery (WBD) is heating up. Paramount (PARA), Comcast (CMCSA), and Netflix (NFLX) have all submitted their initial — non-binding — bids. Paramount is the only suitor pursuing the entire company, while the others are targeting the studio's assets exclusively.
Takeaways:
Fed’s John Williams signals a December rate cut is “on the table,” lifting futures
S&P 500 posts its sharpest intraday reversal in years; markets remain fragile
Bitcoin plunges below $85K with $1B liquidated in one hour; worst month since 2022
“Value” retailers like Walmart, Ross, and TJX outperform as consumers hunt for pricing power
Warner Bros. Discovery draws bids from Paramount, Comcast, and Netflix as strategic review accelerates
Yahoo Finance's flagship show, Morning Brief, is your go-to source for smarter investing and market moves.
Thoughts? Questions? Fan mail? Please email us at [email protected].
Learn more about your ad choices. Visit megaphone.fm/adchoices
More from Morning Brief
Futures point lower as investors weigh cautious guidance from Walmart and rising geopolitical risk tied to Iran. Dow futures fall about 166 points, with the S&P 500 and Nasdaq 100 also in the red. Markets are watching consumer data and oil prices for the next signal.
Stocks are rebounding after another AI-driven sell-off, with housing starts and durable goods topping estimates despite December declines. Still, US equities are off to their worst relative start since 1995, as investors await the GDP report and reassess positioning.
Futures are lower after the holiday break, with Nasdaq 100 futures off about 0.7% as investors digest last week’s worst stretch since November. The AI transition remains the central driver, with traders watching earnings commentary and capital expenditures discipline for clarity.
US stocks are mixed premarket after a solid jobs report and a stronger earnings season. Investors are weighing resilient growth against fewer Fed rate cuts. Value is outperforming growth early in the year as traders reassess positioning.
Stock futures are higher after January payrolls rose 130,000 versus 65,000 expected, with unemployment ticking down to 4.3%. Dow futures are up 250 points as investors digest stronger labor data and push Fed rate cut odds to July. The key question now: does a resilient economy delay easing?