Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on December 16, 2025.
Charly Triballeau | Afp | Getty Images
Stock futures rose Wednesday after the S&P 500 posted a third losing session, as investors weighed newly released U.S. economic data.
S&P 500 futures gained 0.3% while Nasdaq 100 futures rose 0.4%. Futures tied to the Dow Jones Industrial Average advanced 127 points, or 0.3%.
The U.S. Bureau of Labor Statistics released early Tuesday its November job report, which also included data from October. The findings pulled back the curtain on the U.S.’ economic health following a federal data backup caused by the U.S. government shutdown this fall.
The report showed the U.S. economy shed 105,000 jobs in October, while the unemployment rate rose to 4.6% — its highest level since September 2021. However, 64,000 jobs were added in November, topping the Dow Jones consensus estimate of 45,000.
The S&P 500 dropped 0.2% and the 30-stock Dow fell 302 points, or 0.6%, on Tuesday as investors digested the data. It was the third consecutive negative day for both indexes. Stocks in the energy sector also saw losses, as U.S. crude oil closed at its lowest level since 2021 on pressures from a looming surplus. Oil majors Exxon Mobil and Chevron slid roughly 2%.
“The economy has been slowing for a while, and there [had been] a lot of hope in the market…but all those hopes are now basically dashed as we get this data,” Bob Elliott, CEO of Unlimited Funds, said Tuesday on CNBC’s “Closing Bell Overtime.” “This is probably not the time to be bulked up on stocks, and it may be the time to add some fixed income to your portfolio as you wrap up the year.”
On the economic front, Federal Reserve Governor Christopher Waller and New York Fed President John Williams are slated to speak on Wednesday morning.
Traders are also looking ahead to Thursday’s release of the consumer price index reading for November.
Oracle shares slide after Michigan data center funding talks reportedly stall
Shares of Oracle dropped more than 1% in the premarket on Wednesday after the Financial Times reported that Blue Owl Capital isn’t going to back a $10 billion deal for the company’s new data center.
The report, which cited people familiar with the matter, said that Blue Owl had been negotiating with Oracle as well as lenders about investing in the data center that’s being built in Michigan for OpenAI.
However, the agreement won’t move forward after those negotiations stalled, meaning that financing for the Michigan data center is now uncertain given that Oracle has yet to sign a deal with a different backer, the report said.
ORCL, 1-day
— Sean Conlon
U.S. prosecutors charge Tricolor execs
A used Hyundai car at a Tricolor dealership in Houston, Texas, US, on Thursday, Sept. 11, 2025.
Mark Felix | Bloomberg | Getty Images
U.S. prosecutors charged top executives of bankrupt subprime auto lender Tricolor Holdings with what they described as a years-long, “systematic fraud” scheme that sent shockwaves through the banking sector earlier this year.
In an indictment unsealed in Manhattan, prosecutors allege that from at least 2018 through September 2025, Daniel Chu and David Goodgame orchestrated a series of fraudulent schemes that allowed Tricolor to obtain billions of dollars from lenders and investors by misrepresenting the nature and value of its loan collateral. Read more.
— Yun Li
Stock making moves premarket
Baird upgrades Gap to outperform
Baird believes that Gap’s brand reinvigoration efforts are delivering tangible results.
The investment bank upgraded the retail stock to an outperform rating from neutral. It also lifted Gap’s price target to $33 from $27, which implies a gain of about 22% from Tuesday’s close.
Baird analyst Mark Altschwager made the case that Gap’s brand reinvigoration strategies of Old Navy and Gap are proving sustainable, with real results. Consistent market share gains at Old Navy highlight that its fashion mix resonates with consumers, while customer acquisition and average unit retail has fueled Gap’s turnaround.
GAP, 1-day
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— Lisa Kailai Han
Warner Bros. board to shareholders: Reject Paramount Skydance’s takeover offer
Anna Barclay | Getty Images News | Getty Images
Amazon in talks to invest billions of dollars in OpenAI
CFOTO | Future Publishing | Getty Images
CNBC confirmed earlier reports that Amazon was in discussions to make a multibillion-dollar investment in ChatGPT-parent OpenAI. A person familiar with the matter said the investment could top $10 billion.
Amazon shares were up more than 1%.
AMZN 5-day chart
— Fred Imbert
These stocks have seen their value at least double year to date
The S&P 500 is on pace to end 2025 on a solid note, up more than 15% year to date, but a few names are slated to cap a year of enormous gains.
Standouts that have seen their shares at least double this year include miner AngloGold Ashanti, which has popped 264%, and rare earths play MP Materials, up 242% in 2025.
Defense tech name Palantir has surged nearly 150% this year, jumping on artificial intelligence enthusiasm. The stock ended November in the red, down 16% for its worst month since August 2023 amid investors’ flight from AI names.
Other stocks that are enjoying a banner 2025 include Lam Research, Wayfair, Warner Bros Discovery and Rocket Lab.
—Darla Mercado, Gina Francolla
Lennar shares slip in after-hours trading
Homes in Lexington Waters in Blaine, Minnesota.
Michael Siluk | Getty Images
Shares of homebuilder Lennar fell about 4% after the home construction company posted disappointing guidance for the first quarter.
The homebuilder issued guidance of 17,00 to 18,000 for deliveries in the first quarter, as well as homebuilding gross margin of 15% to 16%, falling short of analysts’ estimates, according to Street Account.
Lennar shares in the past day
Fourth quarter revenue, however, came in at $9.37 billion, topping the LSEG consensus call for $9.02 billion.
— Liz Napolitano
Medline upsizes IPO by $1 billion, prices at $29 per share
Medical supply firm Medline upsized its initial public offering by $1 billion.
The increase brings the total offering size to about $6.2 billion, and it implies a market cap of about $53.4 billion, CNBC’s Leslie Picker reported. Medline’s pricing came in at $29 per share, near the high end of its target range.
Medline’s public listing is slated to be the largest IPO in the U.S. market this year. It comes amid a resurgence in the IPO market, which pulled back following its record activity in 2021.
— Liz Napolitano