Stocks Pull Back as Investors Await Fed Decision on Interest Rates; S&P 500 Retreats After Approaching Record

Why Shares of AI Data Software Company Confluent Are Soaring on Monday

24 minutes ago

Shares of Confluent (CFLT) surged Monday morning after IBM (IBM) announced a deal to acquire the software maker for $31 per share, valuing Confluent at $11 billion.

Confluent’s software helps companies manage and organize large amounts of data, an in-demand service as many companies are looking to manage massive data sets that are used in the training and running of artificial intelligence models.

IBM said that Confluent “excels at preparing data for AI, keeping it clean and connected across systems and applications, eliminating silos inherent in agentic AI.” IBM said that the company’s total addressable market has doubled in the last four years to $100 billion.

IBM will acquire Confluent with cash on hand, and said it expects the deal to close by the middle of next year as Confluent’s largest shareholders, which control about 62% of the stock’s voting power, have agreed to vote in favor of the deal.

Read the full article here.

–Aaron McDade

These 3 Stocks Are Set to Join the S&P 500 Soon and Rising

47 minutes ago

Carvana, CRH, and Comfort Systems USA shares climbed Monday after S&P Dow Jones Indices said the stocks are set to join the S&P 500.

Shares of used car retailer Carvana (CVNA) were up over 10% in recent trading, while construction materials provider CRH (CRH) jumped 6%, and mechanical and electrical services company Comfort Systems USA (FIX) added about 2%.

The three stocks will join the benchmark index prior to the opening of trading Dec. 22, S&P Dow Jones Indices said Friday, as part of its quarterly rebalancing. The companies will be replacing auto parts distributor LKQ (LKQ), specialty materials maker Solstice Advanced Materials (SOLS), and flooring manufacturer Mohawk Industries (MHK), shares of which were little changed Monday morning.

Stocks that are added to major indexes like the S&P 500 often benefit from the move, as it may be taken as a vote of confidence in their returns and boost awareness among investors. Index funds that track stocks added to the indexes will also be driven to buy the shares.

With Monday’s gains, shares of Carvana and Comfort Systems USA have more than doubled in value in 2025. CRH shares have climbed close to 40% this year so far.

–Bill McColl

Boeing Stock Leads Dow Gainers After Finally Completing $4.7B Deal to Reacquire Spirit AeroSystems

1 hr 31 min ago

It took nearly a year and a half, but Boeing (BA) finally reacquired key supplier Spirit AeroSystems (SPR). Investors seem pleased.

Boeing was the top-performing stock in the Dow on Monday morning, with shares up some 1.5%, after it announced it had completed its $4.7 billion deal for Spirit AeroSystems announced on July 1, 2024.

As part of the deal, rival plane manufacturer Airbus will receive $439 million compensation and certain Spirit assets, including facilities in the U.S., France, Northern Ireland, and Morocco.

“This is a pivotal moment in Boeing’s history and future success as we begin to integrate Spirit AeroSystems’ commercial and aftermarket operations and establish Spirit Defense,” Boeing CEO Kelly Ortberg said.

Boeing had spun off Spirit AeroSystems in 2005.

Americans Plan to Give Fewer Holiday Tips This Year—But Not for These Two Jobs

2 hr 32 min ago

Do you plan to tip anyone this holiday season? Many Americans may skip the ritual this year.

Fewer people expect to tip their childcare providers, mail carriers, teachers and trash collectors, according to a new report, though for those who do, the median holiday tip is expected to remain mostly unchanged from a year ago. There’s a silver lining for some types of workers, however, who may get bigger gratuities in 2025. 

The high-level trend reverses last year’s findings from Bankrate, which showed more Americans—especially GenZers and Millennials, who are comparatively unenthusiastic tippers—were keen to offer holiday tips.

“The pressure on consumers’ wallets from tariffs, inflation and other things can overshadow their generosity,” Bankrate credit cards expert Ana Staples told Investopedia. “While there is this social pressure to tip, people are also very aware of the limitations on their budgets this season.”

Surveys and other sources have indicated a growing frustration with tipping culture in the U.S., with many Americans feeling like they’re being asked to tip more, and more frequently, than they’d like. That’s particularly pronounced among younger Americans, Bankrate found earlier this year. 

Read the full article here.

–Parija Kavilanz

Marvell Technology Leads Early Nasdaq Decliners on Report of Microsoft-Broadcom Talks, Benchmark Downgrade

2 hr 46 min ago

The opening minutes of the trading week were not kind to Marvell Technology (MRVL) shares.

Marvell stock sank 8% soon after the opening bell following a report in The Information that its partner Microsoft (MSFT) was discussing custom chips with its rival Broadcom (AVGO).

In addition, Benchmark downgraded the company to “hold” from “buy,” saying it is concerned that Marvell has lost Amazon (AMZN) chip designs.

Including today’s sharp early declines, Marvell shares are down about 18% this year.

Todd Combs, Warren Buffett’s Investment Manager at Berkshire Hathaway, to Leave for JPMorgan Chase

5 hr 26 min ago

Warren Buffett’s investment manager at Berkshire Hathaway (BRK.A; BRK.B) is leaving the conglomerate for a job at JPMorgan Chase (JPM). Buffett said the world’s largest bank “has made a good decision.”

Early Monday, JPMorgan announced that it had hired Todd Combs, the CEO of GEICO and investment manager at Berkshire Hathaway, to “head the $10 billion Strategic Investment Group of the firm’s new Security and Resiliency Initiative (SRI).” The bank said the unit was “recently launched to help companies enhance their growth, spur innovation and accelerate manufacturing, primarily in the United States.”

Combs, a former member of the bank’s board, will serve as a special advisor to JPMorgan CEO Jamie Dimon.

“Todd Combs is one of the greatest investors and leaders I’ve known, having successfully managed investments alongside the most respected and successful long-term investor of our time, Warren Buffett,” Dimon said. “Having served nine years on our Board, he truly understands all aspects of our company, and he supports the role we play helping make the world better and safer for all its citizens.”

In a separate press release announcing leadership changes at Berkshire Hathaway, the 95-year-old Buffett—who will be retiring at the end of the year—said Combs “made many great hires at GEICO and broadened its horizons. JPMorgan, as usually is the case, has made a good decision.”

Nancy Pierce, GEICO’s COO, will be taking over as CEO from Combs, effective immediately, Berkshire said.

In addition, CFO Marc Hamburg will retire from the company after 40 years of service on June 1, 2027. Charles Chang will Hamburg as CFO on June 1, 2026, and they “will work together to ensure a smooth and seamless transition period,” the company said. 

Stock Futures Tick Higher to Begin Week Featuring Fed Decision on Interest Rates

6 hr 3 min ago

Futures contracts connected to the Dow Jones Industrial Average were little changed.

S&P 500 futures were up 0.1%.

Nasdaq 100 futures advanced 0.2%.