Stock Market Live December 9, 2025: S&P 500 (SPY) What Is Happening Before the Fed’s Big Decision

Quick Read

At the moment, there’s an 89.6% chance we’ll see a rate cut tomorrow. However, it’s not just a rate cut we want to see.
Markets are also waiting on forecasts for GDP growth, inflation, and unemployment. We’re also waiting on any talk of stagflation, which would be bad news, putting any further chance of rate cuts in jeopardy.
As we wait on the Federal Reserve, markets are flat.
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Stocks on the Move: December 9, 2026

Dec 9, 2025 at 11:37 AM EST

Structure Therapeutics (GPCR) is attempting to regain its explosive momentum from Monday. Down 17 cents, it could pop again on excitement over news that it unveiled the topline data for its GLP-1 drug aleniglipron, which topped competing offerings from Eli Lilly and Novo Nordisk.

Fueling more excitement, BMO Capital raised its stock price target to $130 with an outperform rating. As noted by Investing.com, “The price target increase follows the release of positive Phase 2b data for Structure’s lead asset Aleniglipron, according to BMO Capital. BMO Capital has increased its probability of success in obesity for the drug to 70% from the previous 55%, bringing its peak adjusted sales forecast in the indication to $3.8 billion by 2035.”

All Eyes are on the Federal Reserve

Dec 9, 2025 at 11:28 AM EST

Markets did a 180 and are all green ahead of the Fed’s decision on interest rates.

The Dow is up 170. The S&P 500 is up 16 points, with the Nasdaq up 26.

At the moment, there’s an 89.6% chance we’ll see a rate cut tomorrow. However, it’s not just a rate cut we want to see. Markets are also waiting on forecasts for GDP growth, inflation, and unemployment. We’re also waiting on any talk of stagflation, which would be bad news for markets. In fact, it could put any further chance of rate cuts in jeopardy.

Also, if Bitcoin can continue to gain momentum, investors should keep an eye on related stocks, such as Strategy (MSTR), MARA Holdings (MARA), and Riot Platforms (RIOT). These typically rise and fall when Bitcoin rises and falls, too.

Hot Stocks on the Move this Morning

Dec 9, 2025 at 9:04 AM EST

Creating some excitement, Nvidia (NASDAQ: NVDA) is pushing higher on a Truth Social report that the tech giant could ship its H200 chips to “approved customers” in China and other hotspots.

All under the condition that a quarter of sales be paid to the U.S. government. As a result, analysts at Bernstein have initiated an outperform rating on NVDA, noting that if reports are accurate, NVDA can ship chips to some customers in China, which is a positive development.

Shares of Micron (NASDAQ: MU) are down about $2.62 at the moment.

However, Deutsche Bank analysts see more upside heading into earnings. The firm reiterated its buy rating on MU ahead of earnings on December 17 with a price target of $280 from $200. The firm believes MU is well-positioned to benefit from the memory cycle, with HBM driving structural changes in the semiconductor industry.

As we wait on the Federal Reserve, markets are flat.

S&P 500 futures are up about a point. The SPDR S&P 500 ETF (SPY) is down fractionally. The Dow Jones is up about three points, with the Nasdaq down 14.

“While a rate cut feels almost certain at this point, the Fed’s economic projections and Chairman Powell’s commentary will play a big role in how markets react — not only this week, but it could set the tone for the remainder of the month,” Bret Kenwell, U.S. investment analyst at eToro, said as quoted by CNBC. “After the recent pullback in stocks and crypto, risk-on investors are hoping the Fed will grease the rails for a year-end rally rather than pour cold water on the recent rebound.”

Hot Stocks on the Move this Morning

Nvidia (NASDAQ: NVDA) is up on news that the tech giant could ship its H200 chips to China. All under the condition that a quarter of sales be paid to the U.S. government. As a result, analysts at Bernstein just initiated an outperform rating on NVDA, noting that if reports are accurate, that NVDA can ship chips to some customers in China’s a positive development.

Shares of Micron (NASDAQ: MU) are down about $2.62 at the moment.

And down, but not out, shares of Netflix (NASDAQ: NFLX) are being viewed positively by analysts at Needham. The firm has a buy rating on NFLX and doesn’t believe it needs Warner Bros. Discovery. According to the firm, “NFLX buying WBD would put $83B of additional value at risk of being disrupted by GenAI. Without WBD, NFLX is more global, more nimble, more tech-first, and has more flexibility with the Hollywood unions (called Guilds),” as quoted by CNBC.