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U.S. equity futures nudged higher on Monday as traders positioned themselves ahead of the Federal Reserve’s final policy meeting of the year. At the same time, investors continue parsing the implications of Netflix’s proposed acquisition of Warner Bros Discovery’s television, film, and streaming divisions. Economic data from Asia added to the complexity: Japan’s economy contracted faster than first reported, while China posted a surprisingly strong export recovery even as U.S.-bound shipments plunged.
U.S. stock futures inched up early Monday, extending last week’s upward momentum as markets brace for the upcoming Fed announcement.
At 02:40 ET:
All major indexes ended last week in positive territory for a second straight week. The S&P 500 and Nasdaq Composite each logged four-session winning streaks, while the Dow advanced in three of the last four sessions.
The tone remains upbeat as investors anticipate a rate cut on Wednesday, particularly after Friday’s delayed core PCE reading showed softer-than-expected inflation. CME’s FedWatch tool indicates an 88% chance of a cut.
Monday’s economic calendar is light, while earnings from Broadcom, Adobe, Oracle, Costco, and Lululemon arrive later in the week.
Netflix (NASDAQ:NFLX) confirmed plans to acquire Warner Bros Discovery’s (NASDAQ:WBD) content and streaming assets in a massive $72 billion deal — but the hard part may be ahead. Both U.S. and European regulators are likely to scrutinize the merger intensely.
“The largest factor of a deal of this size and complexity is the potential regulatory hurdles that these two companies are going to have to go through,” — Anthony Saglimbene, Ameriprise Financial
He added that, “Both companies probably expect that they may need to sell assets to close the deal. And I think there’s more than enough room for them to do that.”
Hollywood unions and theater owners warn the merger could cost jobs, concentrate creative power, and reduce theatrical releases. The political dimension grew on Sunday after U.S. President Donald Trump said: “I’ll be involved in that decision,” pointing to potential dominance in the entertainment industry.
“That’s going to be for some economists to tell…. But it is a big market share. There’s no question it could be a problem.”
Japan’s economy shrank more rapidly in Q3 than initially estimated, complicating the Bank of Japan’s deliberations ahead of next week’s meeting.
Revised data show:
The downturn underscores the rationale behind Prime Minister Sanae Takaichi’s stimulus plan, announced last month and representing Japan’s biggest new spending package since the pandemic. The government expects the measures to lift GDP growth by 1.4 percentage points per year on average for three years.
Despite the weak data, the BOJ is still widely expected to raise interest rates at its Dec. 18–19 meeting, given inflation has stayed at or above 2% for more than 3½ years — the longest streak since the early 1990s.
Chinese trade figures showed a strong rebound in November:
This pushed China’s monthly trade surplus to $111.68B, far exceeding expectations.
Growth was driven largely by booming exports to non-U.S. markets as Beijing deepens global trade ties to offset the impact of President Trump’s high tariffs on Chinese goods.
November shipment trends:
Crude prices ticked higher Monday, supported by expectations that a Fed rate cut will bolster energy demand.
Both benchmarks ended Friday at their highest levels since Nov. 18.
Outside monetary policy, geopolitical developments remain influential. Reuters reports that the G7 and EU are discussing replacing the Russian oil price cap with a full maritime services ban, a move that could restrict flows from the world’s No. 2 oil exporter.
Lululemon Athletica stock price
Warner Brothers Discovery stock price
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U.S. equity futures nudged higher on Monday as traders positioned themselves ahead of the Federal Reserve’s final policy meeting of the year. At the same time, investors continue parsing the implications of Netflix’s proposed acquisition of Warner Bros Discovery’s television, film, and streaming divisions. Economic data from Asia added to the complexity: Japan’s economy contracted […]
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