Squawk on the Street SOTS 2nd Hour: Netflix-Warner Deal Details, Fmr. DOJ Antitrust Chief Kanter, & A Data Deluge w/Goldman's Chief Economist 12/5/25
Dec 5, 2025
In this discussion, Michael O'Leary, the Chief Executive of Cinema United, shares his insights on the Netflix-Warner deal, calling it an unprecedented threat to movie theaters. He highlights concerns about reduced theatrical titles and the potential for consumers to shift away from cinemas. Alongside, the team examines the current economic data and its implications for the Fed's decisions ahead. Discussions also touch on regulatory challenges, with insights from former DOJ Antitrust Chief Jonathan Kanter, who outlines potential hurdles this transaction may face.
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PCE Shows Moderating Yet Persistent Inflation
- Core PCE inflation came in at 2.8% year-on-year, matching expectations and easing slightly from prior readings.
- Markets view this as manageable for stocks and keeps rate-cut expectations intact.
Early 2026 Institutional Moves Could Shift Markets
- Early‑year institutional decisions may cause volatility in rate expectations for 2026.
- Patterson expects surprises linked to appointments and legal changes to shape market pricing.
Fed Governance Shapes Market Expectations
- Fed staffing and governance decisions will shape policy expectations more than the single data print.
- Rebecca Patterson warns that nominations and court rulings could drive bond market volatility next year.