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CNBC

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CNBC

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  • We’re putting an AI giant in the Bullpen — not letting a mistake cloud our judgment
  • Disney's 'Avatar: Fire and Ash' disappoints with weak $88 million domestic opening The opening weekend for Disney’s “Avatar: Fire and Ash” was less of a blaze and more of a simmer. And that’s the expectation for the full theatrical run of the third installment in James Cameron’s Avatar franchise. During its first three days in theaters, “Fire and Ash” tallied $88 million, falling well shy of analysts’ expectations, which called for a debut haul between $110 million and $125 million. For comparison, 2022′s “Avatar: The Way of Water” brought in $134 million during the same three-day period. Internationally, the film collected $257 million, bringing the film’s global opening to an estimated $345 million. “Fire and Ash” faced some theatrical headwinds, namely its over-three-hour runtime. There was also less pent-up demand compared to “The Way of Water,” which was released more than a decade after the first Avatar film. Some box office analysts and critics noted that “Fire and Ash” has less technological innovation than its predecessors, which had been a driving factor in past ticket sales. Around 5.2 million domestic moviegoers went to see “Fire and Ash,” according to data from EntTelligence, a massive decline from the 8.7 million that ventured out in 2022 to see the opening weekend of “The Way of Water.” Still, the Avatar franchise has never been front-loaded at the box office. The first film, 2009′s “Avatar,” generated just $77 million in its opening weekend domestically, but stayed in theaters for nearly a year. By the time it exited theaters, the film had generated $2.7 billion globally. With re-releases, the film now stands at $2.9 billion, according to data from Comscore. “The Way of Water” ran in theaters for 23 weeks and has grossed $2.3 billion globally. “With less than two weeks remaining in the box office year, the pressure on ‘Avatar: Fire And Ash’ to deliver big was intense and though the film may have come in a bit below pre-release opening weekend projections, the Avatar films have always been known for their marathon box office trajectories,” said Paul Dergarabedian, head of marketplace trends at Comscore. Also aiding the franchise at the box office are premium large-format ticket sales. The Avatar films have over-indexed with the more expensive experiential screens like IMAX and Dolby as well as 3D showings. Disney reported that 3D and premium theaters accounted for 66% of the weekend total. While 3D films have fallen out of favor with domestic audiences, they remain popular internationally —especially in China. Indeed, “Avatar” made the bulk of its money outside the U.S., with a whopping $2.08 billion coming from overseas.
  • Former Trump advisor Dina Powell McCormick leaves Meta board after eight-month stint Dina Powell McCormick, who was a member of President Donald Trump’s first administration, has resigned from Meta’s board of directors. Powell McCormick, who previously spent 16 years working at Goldman Sachs, notified Meta of her resignation on Friday, according to a filing with the SEC. The filing did not disclose why McCormick was stepping down from Meta’s board, but said her resignation was effective immediately. Meta does not plan on replacing her board role, according to a person familiar with the matter who asked not to be named due to confidentiality. Powell McCormick is considering a potential strategic advisory role with Meta, but nothing has been decided, the person said. Powell McCormick joined Meta’s board in April along with Stripe co-founder and CEO Patrick Collison. Meta CEO Mark Zuckerberg said in a statement at the time that the two executives “bring a lot of experience supporting businesses and entrepreneurs to our board.” Powell McCormick served as a deputy national security advisor to President Trump during his first stint in office and was also an assistant secretary of state during President George W. Bush’s administration. She is married to Sen. Dave McCormick, R-Pa, who took office in January. Powell McCormick is the vice chair, president and head of global client services at BDT & MSD Partners, which formed in 2023 after the merchant bank BDT combined with Michael Dell’s investment firm MSD. With her departure, Meta now has 14 board members, including UFC CEO Dana White, Broadcom CEO Hock Tan and former Enron executive John Arnold.
  • The 101st Academy Awards will be hosted on YouTube. The Academy of Motion Picture Arts and Sciences announced it’s signed a multiyear deal with the Google-owned service to stream the Oscars starting in 2029 and running through 2033
  • Jim Cramer says Amazon is a buy on 2025 underperformance for this key reason People walk past the logo of Amazon Web Services (AWS) at its exhibitor stall at the India Mobile Congress 2025 at Yashobhoomi, a convention and expo center in New Delhi, India, October 8, 2025.
  • The sell-off in artificial intelligence stocks continued unabated Friday stateside. Broadcom shares tumbled more than 11% as investors grew concerned over lower margins and uncertain deals. Names such as Nvidia, Advanced Micro Devices and Oracle fell in sympathy, which caused major U.S. indexes to close lower.
  • CNBC Daily Open: U.S. stocks retreat from highs as Broadcom leads tech sell-off Signage at the Broadcom Inc. headquarters in San Jose, California, U.S., on Monday, June 2, 2025. David Paul Morris | Bloomberg | Getty Images The sell-off in artificial intelligence stocks continued unabated Friday stateside. Broadcom shares tumbled more than 11% as investors grew concerned over lower margins and uncertain deals. Names such as Nvidia, Advanced Micro Devices and Oracle fell in sympathy, which caused major U.S. indexes to close lower. It was a motif patterning the week. Even though the Dow Jones Industrial Average rose 1.1% week on week on the back of outperformance by financial stocks, tech names dragged down the S&P 500 and the Nasdaq Composite, which fell 0.6% and 1.6% respectively for the week. That said, investors could have just been jittery amid the narrative of an apparent AI bubble, and were spooked by any sign of bad news. After all, Broadcom’s earnings — as well as its guidance for the current quarter — breezed past expectations. “Frankly we aren’t sure what else one could desire as the company’s AI story continues to not only overdeliver but is doing it at an accelerating rate,” Bernstein analyst Stacy Rasgon, who has a “buy” rating on Broadcom, wrote in a Friday note. Future prospects also look rosy, according to UBS. “We expect high profitability and the accelerating impact of the AI, power and resources, and longevity themes to drive 2026 performance,” said strategist Sagar Khandelwal. But in the near term, investors may still be flighty, unless something concretely reassuring, such as Oracle achieving positive cash flow, reassures them the snapping sound is just a twig in the forest. What you need to know today U.S. stocks dragged down by AI names. Major indexes fell Friday, a day after they hit record highs. Asia-Pacific markets traded lower Monday. South Korea’s Kospi retreated roughly 1.5% as of 2:45 p.m. Singapore time (1:45 a.m. ET), leading losses in the region. China’s economic slowdown deepens. Even though the country’s retail sales and industrial production grew year on year in November, their increase missed forecasts and slowed from the previous month. Investment in fixed assets in the January-to-November period contracted from a year earlier. The end of the ‘Berkshire way’? Several aspects of Berkshire Hathaway’s leadership transition are signaling that the conglomerate is drifting away from the famously decentralized “Berkshire way,” CNBC’s Alex Crippen writes. Hong Kong court finds Jimmy Lai guilty. The 78-year-old pro-democracy activist and media baron was ruled guilty of sedition and collusion with foreign countries by a Hong Kong court on Monday. The results might unsettle foreign investors, analysts say. [PRO] China’s food security strategy. The spat between Beijing and Washington over soybean purchases has highlighted the evolution of China’s domestic agriculture industry. Goldman Sachs thinks this is the best way to play the sector. And finally... Copper prices have soared this year, hitting multiple record highs, fueled by supply disruptions and fears over U.S. tariffs. Imagebroker/sunny Celeste | Imagebroker | Getty Images Copper could hit ‘stratospheric new highs’ as hoarding of the metal in U.S. continues Copper prices have hit multiple record highs this year, fueled by supply disruptions and as fears over U.S. tariffs have led to a surge in demand. The rally is set to continue into 2026. Citi analysts expect prices of the red metal to skyrocket on the back of stronger demand led by the energy transition and artificial intelligence sectors. Electrification, grid expansion and data-center build-outs require large amounts of the metal for wiring, power transmission and cooling infrastructure.
  • Coinbase to soon unveil prediction markets powered by Kalshi, source says Coinbase is gearing up to launch an in-house prediction market, powered by Kalshi, a source close to the matter told CNBC — a strategic play to expand the number of asset classes available on the cryptocurrency exchange at a time when some investors are shying away from digital assets. The source said Coinbase and Kalshi will formally announce the prediction market soon, with news potentially coming as early as next week. The partnership is not exclusive, but Kalshi will be the only prediction markets operator working with Coinbase when the product launches, according to the source. Rumblings of the prediction market launch have swirled for nearly a month. An alleged screenshot of Coinbase’s prediction markets dashboard shared by Silicon Valley researcher Jane Manchun Wong in an X post dated Nov. 18 offered some clues about the new product. The Information first reported on Nov. 19 that Coinbase planned to launch prediction markets powered by Kalshi, adding that the exchange would unveil the new product at its “Coinbase System Update” event on Dec. 17. Bloomberg published a similar report on Thursday, citing a source familiar with the matter, adding that Coinbase would also announce a tokenized stock offering at the showcase. Coinbase declined to confirm the reports to CNBC, but said to tune into its event next week. The firm did not comment on a timeline for when its prediction markets would go live for its users. Coinbase’s upcoming product launches underscore its push to refashion itself into an “everything exchange,” or a one-stop shop for trading all kinds of assets, including crypto tokens, tokenized stocks and event contracts. In May, CEO Brian Armstrong articulated that “everything exchange” vision to investors, saying Coinbase would aim to become a top financial services app within the next decade. The trading platform is setting its sights on that goal as it faces intensifying competition from rivals such as Robinhood, Gemini and Kraken. All three have launched tokenized equity offerings to users outside of the U.S. within the past year, in addition to exploring prediction markets to varying extents. Coinbase’s moves to expand the financial instruments available to its users also come as investor sentiment on digital assets cools. A series of liquidations of highly leveraged digital asset positions in mid-October triggered several pullbacks in the crypto market, prompting investors to rotate out of tokens and into gold and other safe-haven assets. Bitcoin fell as low as around $85,000 in early December, hitting its lowest level since last March. The token was last trading at $89,951, down 23% in the past three months. Coinbase has also fallen more than 16% over the past three months. The deal also underscores U.S.-based prediction markets operator Kalshi’s push to embed its event contracts into various brokerages, widening its reach as the prediction markets space becomes increasingly competitive. This year, Kalshi embedded several of its prediction markets into trading platform Robinhood, as part of a non-exclusive partnership between the companies. Kalshi has also engaged in talks with several other major brokerages, including those in the crypto industry, with the aim of closing more deals like the ones it has struck with Robinhood and now Coinbase, a source familiar with the matter told CNBC.
  • The Fed's hawkish cut, Oracle earnings, Coca-Cola's next CEO and more in Morning Squawk Federal Reserve Chair Jerome Powell speaks during a press conference following the Federal Open Markets Committee meeting at the Federal Reserve on Dec. 10, 2025 in Washington, DC Here are five key things investors need to know to start the trading day: 1. Holding out for a hero Stocks surged yesterday after the Federal Reserve delivered a widely expected interest rate cut at its final policy gathering of the year. But the bank seemed to take the “hawkish cut” stance many were anticipating, saying that the move doesn’t signal more decreases in the near future. Here’s the rundown: The Fed announced a 25 basis point rate cut, marking its third decrease of 2025. Policymakers are forecasting just one rate decrease in the year ahead, projections show. But it wasn’t a united front. This week’s meeting saw the most voting members break with the majority since 2019. In its closely watched statement, the Fed noted an uptick in unemployment, indicating a possible shift in focus to the labor market from inflation. The central bank also said that it will purchase short-term Treasury bonds on an as-needed basis, pushing down some yields. Chair Jerome Powell took a cautious stance in his press conference, saying the decision was a “close call” and that monetary policymakers can now “wait and see how the economy evolves.” Wall Street liked what it heard: The Dow rose nearly 500 points in Wednesday’s session, while the S&P 500 finished just short of all-time highs. Meanwhile, President Donald Trump said the Fed could have “at least doubled” the size of its rate decrease. Follow live markets updates here. 2. Diverging paths A sign is posted in front of the Oracle headquarters in Redwood Shores, California, on March 11, 2024. Justin Sullivan | Getty Images Oracle missed analysts’ expectations for revenue in its high-profile earnings report yesterday. Shares of the software company dropped 11% in extended trading, dragging down other artificial intelligence plays such as Nvidia and CoreWeave. The revenue miss overshadowed Oracle’s quarterly earnings per share, which blew past Wall Street’s forecast for the second quarter. Oracle also said its remaining performance obligations soared more than 400% from a year ago, driven by new commitments from companies including Meta and Nvidia. On the other hand, shares of Cisco rallied to an all-time closing high in yesterday’s session. As CNBC’s Jordan Novet points out, it’s the first such record for Cisco since its dot-com bubble peak in 2000. 3. Taking the tanker A U.S. military helicopter flies near an oil tanker during a raid described by U.S. Attorney General Pam Bondi as its seizure by the United States off the coast of Venezuela, Dec. 10, 2025, in a still image from video. U.S. Attorney General | Via Reuters Trump said yesterday that the U.S. seized an oil tanker off the coast of Venezuela. He said it was “the largest one ever seized.” Matt Smith, head U.S. analyst at energy consultancy Kpler, told CNBC that the tanker has been identified as the Skipper, a Guyana-flagged “Very Large Crude Carrier” that appeared to be en route to Cuba. Attorney General Pam Bondi said in an X post yesterday that the tanker had been sanctioned by the U.S. for years “due to its involvement in an illicit oil shipping network supporting foreign terrorist organizations.” The move comes as Trump continues to escalate his pressure campaign against Venezuelan President Nicolás Maduro, saying in a Politico interview published Tuesday that Maduro’s “days are numbered.” Oil prices popped yesterday following Trump’s announcement. 4. Rivian’s road ahead Rivian electric vehicles are parked at the Rivian Venice Hub in Venice, California, on Nov. 13, 2024. Mario Tama | Getty Images News | Getty Images Rivian is taking a turn toward artificial intelligence. The electric vehicle maker is hosting its first-ever “Autonomy and AI Day” today as it pitches shareholders on its in-house technology for new cars. As CNBC’s Michael Wayland notes, Rivian’s AI push comes as the company’s core EV business has lagged expectations since it went public four years ago. Rivian is also losing billions of dollars annually despite efforts to reduce costs and increase software revenue. 5. Leadership refresh Henrique Braun to become the next CEO of The Coca-Cola Company. Courtesy: The Coca-Cola Company The latest C-suite shakeup came last night: Coca-Cola announced operations chief Henrique Braun will succeed James Quincey as CEO next year. Braun, who has worked at the soda giant for nearly three decades, will take the helm at the end of March. Quincey will stay with Coca-Cola as its board’s executive chairman following his eight-year stint as CEO. Coca-Cola has mostly outperformed rival Pepsico under Quincey, and its namesake Coke brand has held on to its title as the top-selling soda in the U.S. But the company has grappled with cooling demand as lower-income consumers buckle under inflationary pressures. The Daily Dividend CNBC’s Hayley Cuccinello reports that investment firms of the ultra rich are using WhatsApp chats to do everything from vet deals to sell dinosaur bones. Yes, you read that correctly. If I need something at any time of day, I can message nearly 1,000 people about a new bitcoin fund or ask who’s the best tax lawyer in Germany.
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