Wednesday was the kind of day where the grown-ups spoke, the giants reported, and the market mostly nodded along politely.

Beneath all that calm, a few carefully chosen comments sparked a quiet but important debate about what comes next for borrowing costs.

Read on for the details, including one surprising money-making trend that has nothing to do with picking stocks.

The Big Shift (Sponsored)

Trump Is Taking America "Public." Here's How to Get in Early

Right now, a sitting president is attempting something no president has tried: putting America itself on the market.

Louis Navellier, the man who was early to Nvidia, says it adds up to $31.5 trillion.

So how does an ordinary person get in?

Louis explains it, free, in his new video.

Watch it here.

This ad is sent on behalf of InvestorPlace Media at 1125 N. Charles Street, Baltimore, Maryland 21201. If you're not interested in this opportunity, please click here.

Markets

The Fed left rates unchanged, but Chair Kevin Warsh kept the guessing game alive, saying no firm conclusions exist on more hikes and warning that the AI buildout is not immune to higher borrowing costs.

Two officials wanted an increase, and Governor Lisa Cook dissented. After the close, Microsoft’s $92.3 billion in revenue topped forecasts, and its shares rose about 5%, while Alphabet’s $127.6 billion landed just short and its shares dropped about 7%.

Robinhood, meanwhile, earned more from prediction market contracts than from stock trading last quarter.

Audi announced plans for its first U.S. factory, and chip-equipment maker ASM International raised its sales forecast on soaring AI demand. Two-year Treasury yields dipped below 4.7% after his remarks. Brent crude held near $111 a barrel.

  • DJIA [+0.19%]

  • S&P 500 [+0.28%]

  • Nasdaq [+0.27%]

  • Russell 2000 [+0.28%]

Market-Moving News

Banking & Payments

PNC partnered with ADP to bring payroll services into its digital banking platform, connecting payroll and human resources tools with banking services to simplify financial administration for small businesses.

Bank of America plans to open 19 Wisconsin branches by 2030, along with expansion into Alabama and greater New Orleans, extending its physical network as it targets about 50 new U.S. branches annually.

Travel & Leisure

United Airlines' proposed expanded partnership with Air Canada faces Canadian competition concerns, after regulators warned that closer coordination could harm competition on cross-border routes, informing the transport minister's review of the arrangement.

MGM Resorts amended its voting agreement with People Incorporated after withdrawing its takeover proposal, restricting additional purchases above 29.9% ownership and requiring support for board recommendations on potential change-of-control transactions, subject to conditions.

Consumer & Retail

Wendy's received a roughly $1.4 billion takeover proposal from a group led by Nelson Peltz's Trian, offering $7.35 per share in cash to take the struggling restaurant chain private.

Walmart introduced a $35 holiday meal basket designed to feed 10 people, lowering the cost to $3.50 per person with 26 items covering turkey, traditional side dishes, and dessert.

Momentum Builds Here (Sponsored)

A newly released report highlights seven stocks chosen for their near-term potential.

Selections are based on a mix of technical and fundamental indicators.

While past picks have performed well, future results are uncertain.

The report is available for a limited time.

Access the free report.

*This free resource is being sent by Zacks. We identify investment resources you may choose to use in making your own decisions. Use of this resource is subject to the Zacks Terms of Service.
*Past performance is no guarantee of future results. Investing involves risk. This material does not constitute investment, legal, accounting, or tax advice. Zacks Investment Research is not a licensed dealer, broker, or investment adviser.

Software & AI

Nvidia released Nemotron 3.5 Transcribe, an open AI model for speech recognition, offering multilingual transcription and translation tools for developers building workplace applications.

Dropbox plans to eliminate approximately 9% of its global workforce, redirecting resources toward its main product and growth priorities, with severance and related costs expected to total $27 million to $33 million.

Energy & Infrastructure

DTE Energy brought its 132-megawatt Fish Creek Solar Park online, adding new solar generation in Michigan through a $268 million project that can supply enough electricity for about 30,000 homes.

GE Vernova agreed to acquire Trench Group for about $9 billion, expanding its high-voltage grid equipment business in a transaction expected to close in late 2027, subject to regulatory approval.

Top Winners and Losers

Ultralife [ULBI] $15.61 (+145.44%)

Ultralife just met its dream suitor. EnerSys agreed to buy the Newark, New York battery maker for $16 a share in cash, a premium of more than 160 percent, in a deal valued around $320 million and expected to close in the first quarter of 2027. Shares settled just under the offer, which is merger math doing its job.

Roma Green Finance [ROMA] $7.00 (+49.25%)

Roma Green Finance, a Hong Kong firm that advises companies on sustainability, spent the day acting like a meme stock, with volume roughly 200 times the norm.

The company has been pivoting toward AI data center investments and holds a $100 million buyback authorization. After Monday’s tumble, this rebound looks like momentum traders running their favorite playbook.

DMC Global [BOOM] $7.73 (+44.49%)

DMC Global brought home a very good report card. Third-quarter sales rose 14% to $172.8 million, the company swung to a $9.7 million profit from a loss a year ago, and net debt fell to its lowest level since the 2021 Arcadia deal.

NobelClad’s adjusted EBITDA more than doubled. The stock lived up to its ticker.

Bicara Therapeutics [BCAX] $9.76 (-44.16%)

Bicara got caught in a rival’s victory lap. Genmab said its petosemtamab combination cut the risk of death in half in a Phase 3 interim analysis in first-line head and neck cancer, and Bicara’s lead drug, ficerafusp alfa, is chasing the same patients.

Bicara still holds about $497 million in cash, which cushions the fall but not the sting.

Inhibrx Biosciences [INBX] $73.29 (-23.38%)

Inhibrx looks like collateral damage from Genmab’s big head and neck cancer win. It is also chasing head and neck cancer with its INBRX-106 program, so when a rival halved the risk of death in a Phase 3 trial, holders sold first.

Shares fell from nearly $96 to the low $70s. Insiders bought in September, which adds a plot twist.

F5 [FFIV] $365.53 (-20.43%)

F5 beat on the top and bottom lines, then got punished anyway. Fourth quarter revenue rose 13% to $917 million, but fiscal 2027 growth guidance of 8% to 9% slowed from 11%, and Piper Sandler downgraded the stock.

With shares up nearly 80% this year, investors treated the outlook as a reason to cash in.

Would you rather a sudden market-moving headline hit at 3:55pm, five minutes before the close, or at 9:35am, five minutes after the open?

Login or Subscribe to participate

His Next Call (Sponsored)

Dr. Mark Skousen has spent five decades forecasting Wall Street's biggest turns. From 1987's Black Monday… to the'95 tech boom. To exact month stocks bottomed in 2009.

Now, he says something is happening in the market that he's only seen twice in more than 30 years.

And for anyone who's retired, or getting close, what you do in the next year could matter more than anything you've done in the past decade.

Watch his free briefing now, while you still have time to act.

Everything Else

That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback!

Thanks for reading. I'll see you at the next open! 

Best Regards,
— Adam G.
Elite Trade Club

Click here to get our daily newsletter straight to your cell for free.

P.S. Just like this newsletter, it's 100% free*, and you can stop at any time by replying STOP.