Tonight’s Highlights | U.S. Index Futures Mixed – Jensen Huang Slams U.S. Infrastructure Speed
The three major U.S. index futures are mixed. As of press time, Dow futures are down 0.02%, S&P 500 futures are up 0.08%, and Nasdaq 100 futures are up 0.24%.
Broadcom is up nearly 3% pre-market on reports that Microsoft is in talks with the company for future custom chip design.
CoreWeave is down 4% after announcing a proposed $2 billion convertible senior notes offering.
On the previous trading day, all three major U.S. indices closed higher. The September PCE price index released that day came in below expectations, strengthening prospects for a 25 bps Fed rate cut later this week.
In recent weeks, traders have grown increasingly optimistic about monetary easing. The CME FedWatch Tool shows an 89.6% probability of a 25 bps cut, with the odds of holding steady just over 10%.
Northern Trust CIO Eric Freedman commented that the market’s focus is rightly on the FOMC, with investors perhaps more concerned about the outlook for voting members and future Fed leadership dynamics.
JPMorgan strategists said the recent rally in U.S. stocks could stall after a Fed cut as investors take profits: “Investors may be more inclined to lock in gains at year-end rather than add directional exposure.”
Long-time Wall Street bull Yardeni Research recommends trimming the “Magnificent Seven” relative to the rest of the S&P 500, expecting a shift in future earnings growth trends.
European stocks trading now are mixed: Germany DAX +0.21%, UK FTSE 100 −0.1%, France CAC 40 −0.16%.
Corporate News
Jensen Huang dissatisfied: “Building a data center in the U.S. takes three years”
Nvidia CEO Jensen Huang recently said U.S. AI infrastructure construction is too slow and risks being overtaken by China in the “AI race.” In late November, during a dialogue with CSIS head John Hamre, Huang said: “If you want to build a data center in the U.S., from groundbreaking to a finished AI supercomputer, it takes roughly three years.” “In China, they can build a hospital in a weekend.”
He also noted China’s advantage in massive energy capacity: “China has twice the energy we do, while our economy is larger. That makes no sense to me.” Despite this, Huang believes Nvidia still leads by “several generations” in AI chip technology and can meet market demand for advanced chips and manufacturing processes. He remains optimistic about Nvidia’s future and noted the U.S. government is pushing increased AI investment.
NextEra Energy to partner with Google Cloud on multiple GW-scale data center campuses in the U.S.
U.S. clean energy company NextEra Energy and Google Cloud announced an expanded long-term energy and technology partnership to jointly develop multiple gigawatt-scale data center campuses across the U.S., along with supporting power generation facilities and capacity.
The two will also leverage Google Cloud’s AI and infrastructure to advance NextEra’s enterprise digital transformation and accelerate tech innovation and AI deployment.
Trump vows to intervene – Netflix’s Warner Bros. acquisition faces new uncertainty
Streaming giant Netflix announced on December 5 an agreement to acquire Warner Bros. Discovery’s TV, film studios, and streaming business for $82.7 billion. Netflix outbid Paramount-Skydance and Comcast, a deal seen as potentially seismic for the industry. President Trump said on the 7th that he will participate in decisions on whether the acquisition should proceed and will voice his opinion.
Trump said Netflix acquiring Warner Bros. would give it a large market share, “undoubtedly a problem.”
Berkshire investment manager Todd Combs to join JPMorgan, lead $10B strategic investment group
JPMorgan announced on December 8 the appointment of Todd Combs to lead the $10 billion strategic investment group under its “Security & Resilience Initiative” (SRI). Combs previously served as Berkshire Hathaway investment manager and GEICO CEO. The appointment takes effect in January 2026.
Strategy spends ~$963 million to buy another 10,624 bitcoins
Strategy purchased 10,624 bitcoins from December 1 to December 7 for $963 million at an average price of $90,600.
Robinhood officially enters Southeast Asia market
Robinhood Markets announced the acquisition of Indonesian securities broker Buana Capital Sekuritas and licensed digital asset trader Pedagang Aset Kripto, marking the “meme broker’s” official entry into one of Southeast Asia’s major crypto hubs.
Vietnam’s Vingroup to invest $28 million in DRC subsidiary for real estate and EVs
Vietnam conglomerate Vingroup said it plans to invest $28 million to set up a subsidiary in the Democratic Republic of Congo for real estate and electric vehicles. In October, Vingroup signed an MOU with DRC to develop large urban projects, gradually replace over 300,000 gasoline vehicles with EVs, and build an electric bus network and charging infrastructure.