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Wall Street Holds Off on Big Bets Ahead of Fed Day | Closing Bell

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December 9, 2025

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Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.

With less than 24 hours to go until the Federal Reserve’s final interest-rate decision of 2025, Wall Street traders put off placing big bets as they waited for clues to the central bank’s path for next year.

The S&P 500 ended Tuesday’s session little changed after JPMorgan Chase & Co. warned about higher-than-expected costs and called consumers “fragile.” The lender fell more than 4%. The blue-chip Dow slid while the Nasdaq 100 made a small advance. The rate on 10-year Treasuries hovered at around 4.19% following a government bond auction, while the dollar was little changed and Bitcoin climbed.

In late trading, shares of GE Vernova Inc. rose more than 6% after the US manufacturer doubled its dividend and increased its scope for share buybacks while raising earnings projections amid soaring demand for electricity.

Money markets are pricing around two cuts in 2026 after a likely quarter-point reduction tomorrow — a retreat from more optimistic forecasts in recent weeks. Many market watchers, including Tom Essaye, are worried about the risk of a hawkish cut, where the Fed lowers interest rates but signals it’s done with rate cuts for the moment.

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Bloomberg Television Bloomberg RadioTim Stenovec WithFederal ReservesWall StreetThe SPJPMorgan ChaseGE Vernova IncTom Essaye

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