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Stock Market Live December 18: A Cool Inflation Report Heats Up the S&P 500 (VOO)

By Joel South Updated Dec 18, 11:15AM EST · Published Dec 18, 9:11AM EST

Quick Read

November’s CPI report shows inflation cooler than expected at 2.7%.
Micron reported terrific earnings last night, and added to investor enthusiasm with a strong earnings forecast.

Live Updates

Accenture on the Positive

Dec 18, 2025 at 11:15 AM EST

One more S&P 500 component helping to move the index, and the ETF higher today is IT consultant Accenture (NYSE: ACN | ACN Price Prediction). Accenture beat by 20 cents this morning, reporting fiscal Q1 2026 earnings of $3.94 per share. Revenue came in at $18.7 billion, also ahead of consensus.

Accenture did guide below analyst forecasts through the end of this fiscal year, however. Earnings are expected to range from $13.52 to $13.90, or $13.71 at the midpoint, and that’s less than the $13.77 consensus estimate. So despite the “earnings beat,” Accenture stock is moving 1% lower on guidance today.

The Vanguard S&P 500 ETF is up 1.3%.

CarMax Finds the Gas

Dec 18, 2025 at 9:52 AM EST

Used car dealer CarMax (NYSE: KMX), which is no longer part of the S&P 500, beat earnings by six cents this morning, reporting a Q3 profit of $0.43 per share. Sales were about $100 million better than expected at $5.8 billion.

Heading into Q4, CarMax interim CEO David McCreight says he aims to grow sales by sacrificing some profit margin (i.e. lowering used car prices) and increasing spending on ads relative to last year’s Q4. Marketing costs may decline sequentially against this year’s Q3, however.

Investors seem to like the sound of that — more sales and sequentially-falling marketing costs — and CarMax stock is up about 1.5% in early trading.

Darden Reports Mixed Earnings

Dec 18, 2025 at 9:37 AM EST

Darden Restaurants (NYSE: DRI), also an S&P 500 component, missed earnings by three cents this morning, reporting a fiscal Q2 2026 profit of $2.08 per share. Sales for the quarter were slightly better than expected, however, at $3.1 billion.

This year, Darden is forecasting total sales growth from 8.5% to 9.3%, with same-store sales growth from 3.5% to 4.3%. The company expects to earn between $10.50 and $10.70 per share for the full year, adjusted for one-time items.

Darden stock opened up 0.2% today; the Voo opened 0.9% higher.

This article will be updated throughout the day, so check back often for more daily updates.

Inflation grew much more slowly than expected last month, as revealed in a just-released Consumer Price Index (CPI) report from the U.S. Bureau of Labor Statistics.

November’s inflation rate was only 2.7%, not the 3.1% predicted by economists. “Core” CPI, which does not count changes in food and energy prices, grew only 2.6%, which was also less than the predicted 3%.

Investors are pleased with the news, and the Vanguard S&P 500 ETF (NYSEMKT: VOO) is up 0.8% premarket.

Why are investors pleased? Recall that the Federal Reserve has two so-called “mandates.” When setting interest rates, it attempts to (1) control inflation and (2) promote full employment. With inflation growing less than expected, the Fed will have more freedom to focus on its second mission: helping the economy grow by lowering interest rates without worrying that a looser monetary policy might allow inflation to get out of control.

Long story short, a cool inflation report increases the likelihood of another interest rate cut in January. That’s generally viewed as good news for the stock market, and this explains today’s positive move on the Voo.

Earnings

In earnings news, S&P 500 component company Micron (Nasdaq: MU) beat earnings by 84 cents last night. Micron reported a $4.78 per share profit for its fiscal Q1 2026, on sales of $13.6 billion, which was also better than expected.

Micron also guided higher for Q2. Earnings may rise as high as $8.42 per share, well ahead of consensus forecasts for $4.49, with strong sales of $18.7 billion. Micron stock is soaring, up more than 14% premarket.

A second S&P 500 company, Cintas (Nasdaq: CTAS) reported earnings this morning and beat by a penny. The uniform supply company earned $1.21 in its fiscal Q2, and edged out revenue projections with sales of $2.8 billion.

Guidance was strong, with Cintas forecasting full-year profit between $4.81 and $4.88 per share. Sales may be a bit weaker than expected, at roughly $11.1 billion, but investors seem willing to overlook that flaw. Cintas stock is up 3% premarket.

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About the Author Joel South →

Joel South covers large-cap stocks, dividend investing, and major market trends, with a focus on earnings analysis, valuation, and turning complex data into actionable insights for investors.

He brings more than 15 years of experience as an investor and financial journalist, including 12 years at The Motley Fool, where he served as an investment analyst, Bureau Chief, and later led the Fool.com investing news desk. He has also co-hosted an investing podcast and appeared across TV and radio discussing market trends.