WSJ Your Money Briefing What’s News in Markets: Occidental Petroleum Wobbles, Tesla Gains, Bumble Soars
Jun 28, 2025
The podcast dives into how the Middle East conflict has affected Occidental Petroleum's stock performance. It also explores the buzz around Tesla's robotaxi launch and its implications for share prices. Bumble's strategic cost-cutting measures are highlighted, showing how investors reacted positively to their plans. The discussion wraps up with an analysis of the broader stock market, influenced by recent geopolitical events and their impacts on major players in the energy and tech sectors.
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Market Rises on Ceasefire and Deal
- The stock market rose after a Middle East ceasefire reduced fears of energy disruption and after a trade deal with China was announced.
- Optimism propelled indexes to record closes despite later trade tensions involving Canada.
Occidental Petroleum's Conflict Impact
- Occidental Petroleum shares dropped substantially due to Middle East conflict fears, reflecting energy sector sensitivity.
- The stock ended the week down 6.6% as the ceasefire held and volatility diminished.
Shell-BP Merger Rumors Impact
- Shell sparked M&A speculation with reported early talks to acquire BP, though both companies denied the rumors.
- Despite the denial, shares of both companies experienced fluctuations following the reports.