5 Things to Know Before the Opening Bell 12/24/2025

Summary

Podcast Summary: Squawk Pod — 5 Things to Know Before the Opening Bell (12/24/2025)

Podcast: Squawk Pod
Date: December 24, 2025
Hosts: Andrew Ross Sorkin, Joe Kernen
Episode Theme: Pre-market highlights and lighthearted conversation on financial headlines and happenings ahead of the Christmas Eve trading session.

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Episode Overview

This episode of Squawk Pod distills the five most important news items for investors to watch before the opening bell on December 24th, 2025. Andrew Ross Sorkin and Joe Kernen cover surging metals prices, tech and IPO news, a Supreme Court decision with political implications, and the soaring Powerball jackpot. The tone moves fluidly from factual and analytical to bantering, especially around the lottery segment.

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Key Discussion Points & Insights

1. Record-Breaking Run in Precious Metals

• Gold: Closes at its 53rd record high for the year.
• Silver: Hits its 16th record close of 2025.
• Quote: “Metals trading higher. We're coming off the 53rd record close for gold this year and silver 16th record close of 2025.” — Andrew Sorkin [01:10]
• Context: The rise signals strong commodity demand and inflationary or geopolitical undercurrents.

2. Waymo’s Response to Self-Driving Car Outages

• Event: After a multi-car outage in San Francisco during a blackout, Waymo is upgrading its vehicles’ ability to respond.
• Quote: “Alphabet owned driverless car company Waymo… updating its fleet of vehicles so that they're better prepared to respond to outages. Video shared on social media appeared to show multiple Waymo cars stalled in traffic…” — Andrew Sorkin [01:22]
• Takeaway: Tech companies face real scrutiny as real-world glitches in autonomous vehicles go viral.

3. Motive (Alphabet-Backed): Upcoming IPO Announcement

• Company: Motive (corporate fleet management software), to file for NYSE IPO under ticker 'MTV' next year.
• Quote: “Motive is the name of the company. It's going to seek to go public next year under the ticker symbol MTV.” — Andrew Sorkin [01:42]
• Significance: Highlights IPO pipeline activity ahead of 2026 and Big Tech’s continued expansion into logistics.

4. Supreme Court Ruling on National Guard Deployment

• Event: The U.S. Supreme Court temporarily blocked the Trump administration’s effort to deploy the National Guard to Chicago, pending further legal review.
• Quote: “The Supreme Court temporarily rejecting the Trump administration's bid to overhaul a lower court in and allow the deployment of the National Guard troops to Chicago.” — Andrew Sorkin [01:48]
• Analysis: Reflects ongoing legal and political tensions surrounding federal authority and state autonomy.

5. Powerball Jackpot Soars — Banter on Lottery Odds

• Powerball: Jackpot now at $1.7 billion; cash option is $780 million.
• Quote: “A lucky lottery player could have a very merry Christmas. Tonight's Powerball jackpot growing to an estimated $1.7 billion. That's with a B.” — Andrew Sorkin [01:54]
• Banter Segment (Key Quotes & Moments):
  • Sorkin (sarcastically): “A couple bucks will buy you a dream… got to pay tax on. I guess you do have to pay tax on that.”
  • Kernen (joking): “I don't want to go buy a bag of potato chips and get killed when the vending machine falls on me because that's a thousand times more likely to get killed by a vending machine falling on you than you are to win.” [02:28]
  • Sorkin: “I tried to buy it with a credit card and I forgot… it's illegal to buy a lottery ticket with a credit card… social policy issue.” [02:46]
  • Kernen: “It's a tax on the stupid.” [03:13]
• Insight: The segment mixes probability humor with brief commentary on lottery policy (no credit card purchases permitted), making a sociological point about gambling and dreams.

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Notable Quotes & Memorable Moments

• On the Odds of Winning Powerball:
  • “That's a thousand times more likely to get killed by a vending machine falling on you than you are to win.” — Joe Kernen [02:28]
• On Lottery Ticket Purchases:
  • “I tried to buy it with a credit card… it's illegal to buy a lottery ticket with a credit card… They don't want people creating debt to buy lottery tickets, which is interesting. Duh. You have to use cash.” — Andrew Sorkin [02:46]
• Blunt Take:
  • “It's a tax on the stupid.” — Joe Kernen [03:13]
• Philosophy on Dreaming:
  • “You could have the same dream without paying. But it makes the dream feel so much closer.” — Andrew Sorkin [03:17]

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Important Segment Timestamps

• Start of Core Content / Daily Brief: [01:02]
• Gold and Silver Record Closes: [01:10]
• Waymo Autonomous Car Update: [01:22]
• Motive IPO Announcement: [01:42]
• Supreme Court on National Guard in Chicago: [01:48]
• Powerball Jackpot, Lottery Banter Begins: [01:54]
• Humorous Vending Machine Odds Commentary: [02:28]
• Discussion about Lottery Ticket Cash Purchase Requirement: [02:46]
• “Tax on the stupid” Quote: [03:13]
• Segment Wrap/Conclusion: [03:45]

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Tone & Style

• Blend of serious, fact-based market reporting and breezy, sometimes acerbic humor.
• Banter is typical of Squawk Box — direct, even sardonic, but engaging and accessible.

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Summary for Listeners:
If you missed this quick-hit recap, you’d want to know that it covers metals’ record highs, a big upcoming tech IPO, regulatory and legal news about National Guard deployment, and a record lottery jackpot. But it’s the lottery banter that gives this holiday episode special flavor, with Sorkin and Kernen sparring about the (very) long odds of overnight fortune — and why you shouldn’t buy that ticket on credit.

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Transcript

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[Andrew Sorkin]

Hi, I'm Andrew Sorkin, co host of Squawk Box. Today. I'm with Joe Kernan and this is five things to know before today's opening. Bell Metals trading higher. We're coming off the 53rd record close for gold this year and silver 16th record close of 2025. Also, Alphabet owned driverless car company Waymo, saying it's updating its fleet of vehicles so that they're better prepared to respond to outages. Video shared on social media appeared to show multiple Waymo cars stalled in traffic during last Saturday's blackout in San Francisco. And an Alphabet backed firm that makes software for managing corporate fleets of trucks and drivers filing for an IPO on the nyse. Motive is the name of the company. It's going to seek to go public next year under the ticker symbol mtv. Meantime, the Supreme Court temporarily rejecting the Trump administration's bid to overhaul a lower court in and allow the deployment of the National Guard troops to Chicago. And a lucky lottery player could have a very merry Christmas. Tonight's Powerball jackpot growing to an estimated $1.7 billion. That's with a B. Total cash value if you take it I think at one time is $780 million. So a couple bucks will buy you a dream and got to pay tax on. I guess you do have to pay tax on that. But even after I'm not going to. Come on, I know you won't play.

[Joe Kernan]

I'm not going to.

[Andrew Sorkin]

I know you don't want to play. I'm going to go out and you know what?

[Joe Kernan]

And I tell you why I'm not going to play. Because I don't want to go buy a bag of potato chips and get killed when the vending machine falls on me because that's a thousand times more likely to get killed by a vending machine falling on you than you are to win.

[Andrew Sorkin]

I can give you, I will say.

[Joe Kernan]

How many rare diseases.

[Andrew Sorkin]

I know how you feel about this. I bought tickets for the last Powerball just two days ago and obviously there was no winner. I want you to know you'd actually feel good about this, Joe. I tried to buy it with a credit card and I forgot. Do you know that it's illegal to buy a lottery ticket with a credit card? Because this is actually a social policy issue. They don't want people creating debt to buy lottery tickets, which is interesting. Duh. You have to use cash.

[Joe Kernan]

It's a tax on the stupid.

[Andrew Sorkin]

You know that.

[Joe Kernan]

You're welcome.

[Andrew Sorkin]

You know what? For two bucks or five bucks or whatever you're paying. If I can. Lucky you can afford. It's hard to have the same dream. You could have the same dream without paying. But it makes the dream feel so much closer.

[Joe Kernan]

Okay, all right.

[Andrew Sorkin]

Come on.

[Joe Kernan]

I just.

[Andrew Sorkin]

Am I the only one stacked? Help me here.

[Joe Kernan]

You're tempting fate. You're tempting fate.

[Andrew Sorkin]

Becky's out. I need somebody to help me. I'll give you a list of the worst.

[Joe Kernan]

You can have worms crawling out from between your toes.

[Andrew Sorkin]

I understand, I understand.

[Joe Kernan]

But terrible things that can happen to you.

[Andrew Sorkin]

We're going to be back later today with an all new Squawk Pod, our daily podcast featuring the best of Squawk Box. Check it out wherever you get your podcast and listen anytime.

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