CNBC Daily Open: The Warner Bros. Discovery deal — a cliffhanger in the making?

Group 1: Paramount and Warner Bros. Discovery - Paramount Skydance launched a hostile takeover bid for Warner Bros. Discovery with a $30-per-share all-cash offer, surpassing Netflix's $27.75-per-share cash-and-stock offer [1] - CEO David Ellison emphasized the company's commitment to completing the acquisition process [1] Group 2: Market Reactions - Investors reacted positively to the news, resulting in a 9% increase in Paramount shares and a 4.4% rise in Warner Bros. Discovery's stock [2] - The market is currently buoyed by expectations of a Federal Reserve rate cut, with a nearly 90% chance of a quarter-point cut anticipated [3] Group 3: Federal Reserve Expectations - The upcoming Federal Reserve meeting is creating cautious sentiment in the market, with potential downside risks if the expected rate cut does not occur [4] - Analysts suggest that if the Fed does not cut rates, markets could decline by 2% to 3% [4]