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Happy Friday. This is TheStreet’s Stock Market Today for Dec. 5, 2025. You can follow the latest updates on the market here in our daily live blog.

Update: 9:30 a.m. ET

Opening Bell

The U.S. stock market is now open. The Nasdaq (+0.37%) is out in front among equity benchmarks, trailed by the S&P 500(+0.25%) and Dow (+0.15%). By contrast, the Russell 2000 (-0.15%) seems to be paling back from two consecutive days of gains.

In continuous futures: Natural Gas (+4.38% to $5.285), Silver (+2.41% to $58.875), and Gold (+0.54% to $4,266.10) are all trading to the upside. Brent Crude (-0.13% to $63.18) is down.

The 10Y Treasury also declined 0.8 bips to 4.10%.

In Other News

Netflix (-4.7%) and Warner Bros. Discovery (+3.2%) entered “exclusive talks” last night after a weeks-long bidding process for the HBO parent, but this morning, the company has shook on a deal which will see a $72 billion tie-up between the entertainment giants.

Update: 8:32 a.m. ET

A.M. Update

Good morning. We’ve arrived at the end of the week. U.S. equity futures are down by a few basis points, with just a few small reports on deck. Here’s what to keep an eye out for:

Economic Data + Events: PCE, Personal Income, UM Consumer Sentiment

Chief among reports today are the Core PCE Price Index report from September, along with the Michigan Consumer Sentiment Preliminary reading for December.

Here’s the list of today’s core events, per TradingEconomics:

Earnings Today: Victoria’s Secret

Today, Victoria’s Secret is the only earnings report from a firm over $1 billion, per Nasdaq. That report, already out this morning, showed a 9% march in sales, as new CEO Hillary Super begins to see the fruit of the company’s recent labors. The firm also raised its outlook. The stock is up over 9% in the premarket.