5 Things to Know Before the Opening Bell 12/26/2025

Summary

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Squawk Pod – 5 Things to Know Before the Opening Bell (12/26/2025)

Host: Steve Liesman (with Leslie Picker)
Duration: ~2 minutes core content
Date: December 26, 2025
Podcast: Squawk Pod (CNBC)

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Overview

This episode of the Squawk Pod delivers CNBC’s morning briefing of the top five market-moving stories and business headlines to know before Wall Street opens. Anchored by Steve Liesman and Leslie Picker, the episode offers rapid insights on record-setting precious metals, global geopolitical developments, a historic lottery win, technology news, and weather impacts on the autonomous vehicle industry.

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Key Discussion Points & Insights

1. Precious Metals Surge

• Gold and Silver Set New Records
  • Gold prices soared more than 70% in 2025, hitting all-time highs.
  • Silver outperformed, surging over 150% year-to-date.
  • [00:47]

    "Gold and silver hitting new records. Gold up more than 70% in 2025. Silver's gained more than 150%."
    — Steve Liesman

2. Ukraine Peace Developments

• Diplomatic Efforts Toward Ending Russia-Ukraine War
  • Ukrainian President Volodymyr Zelensky announces plans to meet with U.S. President Donald Trump soon in pursuit of peace.
  • Held talks with White House envoy Steve Witkoff and Jared Kushner the previous day.
  • [01:05]

    "Ukraine's President Zelensky...plans to meet with President Trump soon as the US pushes for an end to Russia's war with Ukraine."
    — Steve Liesman

3. Powerball Jackpot Hits Record Highs

• Single Winning Ticket Sold
  • $1.8 billion Powerball prize (second largest ever) won by a ticket sold near Little Rock, Arkansas.
  • Winner yet to be identified due to holiday closures.
  • Panel highlights the enormity of the windfall.
  • [01:16]

    "A single winning ticket sold for Powerball, second largest jackpot ever...the $1.8 billion prize..."
    — Steve Liesman

  • [02:16]

    "Imagine, right?"
    — Steve Liesman

  • [02:17]

    "1.8 billion."
    — Leslie Picker

  • [02:20]

    "I mean, just money raining down everywhere."
    — Leslie Picker

4. Autonomous Vehicle Disruptions

• Waymo Pauses Robo-Taxi Service in SF Amid Weather
  • Waymo halted its self-driving service in San Francisco due to flash flood warnings and ongoing storms.
  • Reflects both technological limits and weather disruptions.
  • [01:37]

    "[Waymo] pausing its robo taxi service again in San Francisco...due to flash flood warnings from the National Weather Service."
    — Steve Liesman

5. Tech M&A Activity

• Snowflake Eyes Its Biggest Acquisition
  • Data warehousing leader Snowflake is in talks to acquire Observe (a monitoring and analytics platform) for $1 billion.
  • Would mark Snowflake’s largest deal ever.
  • [01:54]

    "Snowflake, is reportedly in talks to buy a startup, Observe, for about $1 billion... the company's biggest acquisition to date."
    — Steve Liesman

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Notable Quotes & Memorable Moments

• On Precious Metals:

  "Gold up more than 70%...Silver's gained more than 150%."
  — Steve Liesman, [00:47]

• On Powerball’s Prize vs. Tech Valuations:

  "Yeah, but the lottery winner was like almost double that value."
  — Leslie Picker, [02:12]

• On Luck and Weather as a Theme:

  "I mean, just money raining down everywhere."
  — Leslie Picker, [02:20]
  "Running down everywhere and rain in San Francisco and snow here in New York. And it's a theme for the day."
  — Steve Liesman, [02:25]
  "Exactly. Theme all the time here on CNBC."
  — Leslie Picker, [02:30]

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Timestamps for Key Segments

• [00:47] — Markets update: Precious metals, Ukraine, Powerball, Waymo, Snowflake
• [01:16] — Powerball jackpot segment
• [01:37] — Waymo weather disruption
• [01:54] — Snowflake acquisition news
• [02:12-02:33] — Casual discussion: money themes, weather parallels

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Conclusion

This brisk episode encapsulates fast-breaking news and trends that could move markets—from commodities and global politics to technology and massive lottery wins—backed by CNBC’s signature banter and context. Perfect for listeners needing an early-morning edge before the trading day begins.

Transcript

[A]

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[B]

Hi, I'm CNBC. Steve Liesman. Today I'm with Leslie Picker and this is five things to know before the opening bell. Gold and silver hitting new records. Gold up more than 70% in 2025. Silver's gained more than 150%. Ukraine's President Zelensky Vladimir Zelensky says he plans to meet with President Trump soon as the US Pushes for an end to Russia's war with Ukraine. Zelensky held talks yesterday with White House envoy Steve Witkoff and President Trump's son in law, Jared Kushner. A single winning ticket sold for Powerball, second largest jackpot ever. The ticket for the $1.8 billion prize was purchased at a gas station outside Little Rock, Arkansas. Lottery officials say they won't know who won until at least today since the lottery claim center was closed for the holidays. And self driving car startup startup Waymo, pausing its robo taxi service again in San Francisco yesterday with rainstorms in the area. Customer notifications seen by CNBC saying the move was due to flash flood warnings from the National Weather Service. California pounded by rain over the last several days and not a weather thing, but a company, Snowflake, is reportedly in talks to buy a startup, Observe, for about $1 billion. The information says this would be the company's biggest acquisition to date. Observe runs a monitoring and analytics platform for software developers and IT departments.

[C]

Yeah, but the lottery winner was like almost double that value.

[B]

Imagine, right?

[C]

1.8 billion.

[B]

I didn't connect the two, but yeah.

[C]

I mean, just money raining down everywhere.

[B]

Running down everywhere and rain in San Francisco and snow here in New York. And it's a theme for the day.

[C]

Exactly. Theme all the time here on cnbc.

[B]

Be sure to check out an all new episode of Squawkpod later today. Our daily podcast featuring the best of Squawkbox. Check it out wherever you get your podcasts.

[C]

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