Warner Bros. Rejects Paramount Bid, US Jobs Report, and EU Tech Tax

Warner Bros. Discovery Rejects Paramount Bid

• 🎬 Warner Bros. Discovery is planning to reject Paramount Skydance's hostile takeover bid due to concerns over financing and terms.
• 🤝 The Warner Bros. board views its existing agreement with Netflix as more valuable and certain than Paramount's proposal.

US Economic Indicators

• 📊 The November jobs report, delayed by a government shutdown, showed nonfarm payrolls rose by 64,000.
• 📈 The unemployment rate increased to 4.6%, with October seeing a total loss of 105,000 jobs, including significant government job losses.
• 🗣️ The acting chairman of the White House Council of Economic Advisors stated the jobless rate increase is statistically insignificant and driven by labor force reentry.

International Trade and Policy

• 🇪🇺 The Trump administration threatened retaliation against the European Union for efforts to tax American tech companies.
• ⚖️ The U.S. is preparing an investigation that could lead to tariffs on EU goods.
• 🎤 Defense Secretary Pete Hegseth and Secretary of State Marco Rubio briefed Senate lawmakers on a counter-drug mission involving firing on and destroying boats.

Market Performance and Federal Reserve

• 📉 Wall Street traders held back from big bets on near-term Fed rate cuts, with the S&P 500 losing 16 points, the NASDAQ gaining 54, and the Dow down 302 points.
• 📈 The ten-year treasury yield was at 4.15%, and the two-year yield at 3.48%.
• 💡 Atlanta Fed President Raphael Bostic favors holding rates unchanged through 2026 to address persistent inflation.
• 📰 President Trump is reportedly set to interview Fed Governor Christopher Waller for the Federal Reserve chair position.