Closing Bell Overtime: Worries hit the AI trade, SpaceX IPO Buzz, and the 2026 Consumer & Fintech Outlook 12/12/25

Closing Bell

CNBC

News, Business

4.8 • 118 Ratings

🗓️ 12 December 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Oracle and Broadcom worries hit tech stocks. Jose Rasco, Chief Investment Officer at HSBC Global Private Banking and Wealth Management, breaks down the week’s wild market action. BTIG’s Robert Drbul gives his top consumer picks—and catalysts—for 2026. Growing speculation around a potential SpaceX IPO with Daniel Hanson of Neuberger Berman. Netskope CEO Sanjay Beri talks the company’s first earnings report as a public company. Wells Fargo analyst Jason Kupferberg on the fintech setup heading into 2026.

Transcript

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0:00.0	That bell marks the end of regulation, Madison Square Garden Entertainment, and the Harlem Globetrotters,
0:05.0	bringing the closing bell at the New York Stock Exchange, served robotics doing the honors at the NASDAQ.
0:10.0	And stocks are down across the board, the Dow and S&P 500, both pulling back from record levels.
0:15.0	The NASDAQ continuing to underperform.
0:17.0	The split market reflected in weekly performance, too.
0:19.0	The Dow and the Russell with gains of more than 1%. The NASDAQ losing 1.5%. Broadcom down more than 11% today after its results. InVIDIA also lower and Oracle's problems mounting as well. More on that coming up. Consumer Staples, the leading group in the S&P today. Pornell, Coke, Procter & Gamble, gold slightly higher, but silver pulling back, still up more than double this year.
0:42.8	Nat gas also pulling back after a hot streak into winter, down 20% this week.
0:48.3	Well, that's the scorecard on Wall Street.
0:49.9	Welcome to Closing Bill overtime.
0:51.2	I'm Morgan Brennan, along with John Fort.
0:53.6	The recent tech
0:55.0	unwind, making some people nervous about the prospects of 2026. The Bulls or the Bears? Who has the
1:00.7	upper hand going into next year? And Netscope shares tumbling about 11.5% a little more after strong
1:07.0	results in its first earnings report as a public company. I'm going to talk to the CEO about the business and the market reaction.
1:13.6	And IPO, the final frontier.
1:16.1	Elon Musk seems to confirm that SpaceX is about to take the next step or certainly seriously
1:22.0	considering it entering the public markets.
1:24.3	That and much more coming up.
1:26.3	We begin, though, with today's Tech Tumble and Christina Parts of Nevelas at the NASDAQ.
1:30.8	Yeah, Tech TUMBO. I'm calling it a rough day for tech with concerns about the AI boom,
1:34.9	really sparking a broad sell-off. The catalyst, let's start with Broadcom, like you talked
1:38.8	about John and down, about 11% despite topping estimates in their earnings report yesterday.
	...

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