How stocks are reacting to Fed rate optimism, chair frontrunner

US stock futures (ES=F, NQ=F, YM=F) are down in Monday's morning session as equities start off December trading in a slump. This all comes ahead of the Federal Reserve's December FOMC meeting next week as Wall Street maintains an optimistic outlook on central bank officials cutting interest rates. Interactive Brokers Chief Strategist Steve Sosnick joins Julie Hyman for a conversation around how equities are reacting to the likelihood that Kevin Hassett, the director of the National Economic Council, is President Trump's top pick to lead the Federal Reserve after Chair Jerome Powell's term ends in May 2026. Also catch Yahoo Finance's full interview with Kevin Hassett. To watch more expert insights and analysis on the latest market action, check out more Morning Brief.