It's showtime!

By Marc Jones

Wed, December 10, 2025 astatine 5:33 AM CST 6 min read

By Marc Jones

LONDON, Dec 10 (Reuters) - By Marc Jones, planetary markets correspondent

What matters successful U.S. and planetary markets today

Wall Street futures and enslaved and FX markets are hunkering down arsenic crunch clip nears for a divided Federal Reserve argumentation board, portion net from Oracle and Broadcom volition supply the latest trial for sky-high valuations successful the AI space.

I’ll get into each the marketplace quality below.

But archetypal cheque retired Mike Dolan’s latest file connected wherefore adjacent ​year's marketplace result volition erstwhile again hinge connected the destiny of the AI story.

And perceive to the latest occurrence of the caller Morning Bid regular podcast. Subscribe to perceive Mike and different Reuters journalists sermon the biggest quality successful markets ‌and concern 7 days a week.

Today's Market Minute

* Today’s Federal Reserve argumentation gathering is expected to beone of the astir contentious successful years this week, potentiallyoffering fiscal markets a glimpse astatine however U.S. monetary policydebates volition signifier up successful 2026. * U.S. President Donald Trump's Department of GovernmentEfficiency was lone "a small spot successful", Tesla CEO ElonMusk said ‌on a podcast connected Tuesday, adding that helium would not leadthe task again. * Paramount Skydance's summation of 3 Gulf sovereignwealth funds to the formed of its $108 cardinal hostile bid forWarner Bros Discovery marks a comparatively uncommon confederation amongthese states arsenic they physique their ain amusement industries. * Venezuela is apt to clasp its spot successful OPEC adjacent ifU.S. President Donald Trump successfully forces a alteration ofgovernment successful the oil-rich country, arsenic the U.S. is seeking tobolster its confederation with the cartel adjacent arsenic it expands its ownsphere of influence, argues ROI Energy Columnist Ron Bousso. * U.S. sanctions against Russian lipid majors Lukoil andRosneft could trigger a structural reshaping of the planetary oilsector implicit the adjacent year, reversing Moscow's decades-longefforts to grow its planetary clout done energyinvestment, writes Martin Vladimirov, Director of theGeoeconomics Program of the Center for the Study of Democracy.

It's showtime!

The futures market, astatine least, is assured ⁠the Federal Reserve volition chopped rates by a 4th constituent to 3.50-3.75% aboriginal successful the day, ‌pricing it astatine an 89% probability. Yet it besides assumes the guidance volition beryllium hawkish, implying conscionable a 21% accidental of a January move.

Much volition beryllium connected however galore "dot plot" forecasts from Fed members spot one, 2 oregon nary much cuts adjacent year. Analysts besides fishy astatine slightest 2 of the 12 voters could dissent against a chopped this clip around, putting Chair Jerome Powell successful a tricky presumption conscionable arsenic ‍speculation peaks connected who volition regenerate him adjacent year.