Podcast Summary: The Rundown

Episode: Oil Prices Pull Back, Live Nation Settles Major Antitrust Case
Date: March 10, 2026
Host: Zaid Admani (Public.com)
Duration: ~10 minutes

Episode Overview

This episode of The Rundown, hosted by Zaid Admani, breaks down several key stories impacting investors, including the reversal in oil prices and its effects on the broader market, the major antitrust settlement involving Live Nation and Ticketmaster, updates on the SpaceX IPO, and notable stock moves from Rivian and Kohl’s. The show wraps up with a look at Amazon's expanding robo-taxi service, Zoox.

Market Reversal & Oil Prices ([00:20]–[03:00])

• Stock Market Recap:

  • Both the S&P 500 and Nasdaq started Monday down ~1.5% but rallied to close up 0.8% and 1.4% respectively.
  • "That turnaround marked one of the biggest intraday reversals we've seen in nearly a year." (Zaid Admani, [00:37])

• Oil Price Surge and Pullback:

  • Crude oil briefly jumped to $119/barrel, then retreated to the mid-$80s.
  • The pullback was driven by President Trump's remarks that the Iran conflict was "very complete," signaling easing supply concerns.
    • "Markets interpreted that as a signal that the worst of the oil supply disruption might be over..." ([01:22])
  • Reports surfaced that oil tankers were again moving through the Strait of Hormuz, calming markets.

• Market Sentiment:

  • The stock market currently reacts directly to oil price headlines.
  • "I can't imagine what oil traders are going through right now seeing oil trade like a meme stock over the last 24 hours. I mean, that is not normal." ([02:14])
  • Expect continued volatility as conflict updates emerge.

Live Nation / Ticketmaster Antitrust Settlement ([03:15]–[06:00])

• Case Background:

  • Live Nation, Ticketmaster’s parent, settled with the DOJ over allegations of illegal monopoly practices in the live music sector.
  • The government alleged Live Nation pressured venues into exclusive Ticketmaster deals, preventing competition and driving up prices for fans.
  • Live Nation’s dominance:
    • 55,000 events hosted in 2025
    • 646 million tickets sold
    • $25B in revenue (more than Spotify & Universal Music Group combined)
    • Ticketmaster controls ~80% of major U.S. concert venue ticketing.

• Settlement Terms:

  • Venues can use multiple ticket providers; some exclusive agreements will be unwound or limited.
  • Service fees capped at 15%.
  • $280 million in penalties paid by Live Nation.
  • "TicketMaster controls about 80% of ticketing at major concert venues in the U.S., so at one point the DOJ was even pushing for a breakup..." ([04:22])
  • Settlement pending court and state approval; some state Attorney Generals object, seeking a full breakup.

• Market Impact:

  • Live Nation stock briefly up 5% post news; caution urged due to ongoing regulatory uncertainty.
  • "Personally, I would love it if we had cheaper ticket prices and I wouldn't have to pay 25, 30% on random fees just to buy a concert ticket." (Zaid Admani, [05:57])

IPO Watch: SpaceX’s Record Ambitions ([06:05]–[07:00])

• IPO Details:

  • SpaceX targeting a $1.75 trillion valuation (potentially largest IPO ever).
  • Aiming for early Nasdaq 100 inclusion—a break from the norm, usually requiring a year’s wait.
  • Nasdaq proposes a new rule for mega cap IPOs, allowing inclusion within weeks if large enough.

• Why It Matters:

  • Early index inclusion would spur index fund buying, potentially boosting the stock and avoiding post-IPO volatility.
  • "So yeah, the anticipation for the SpaceX IPO is building. They're targeting a June IPO..." (Zaid Admani, [06:59])

Stocks Making Moves ([07:01]–[08:15])

Rivian ([07:05]–[07:55])

• Stock Upgrade:
  • Rivian shares up 5% after TD Cowen upgrade, citing the coming R2 SUV (launching this summer at $45k).
  • R2 projected demand: 212,000–335,000 units vs. 42,000 delivered in 2025.
  • TD Cowen sets a $20 price target (25% upside from previous close).
  • "If these numbers are even close to being right, it would be a big boost for the company." (Zaid Admani, [07:53])

Kohl’s ([07:56]–[08:13])

• Earnings Report:
  • Reported 16th straight quarter of sales decline; Q4 comparable sales down 2.8%, below expectations.
  • Despite beating profit estimates, outlook remains bleak (2026 sales seen flat to down 2%).
  • Initial stock drop (-8%) reversed to +5% as buyers "bought the dip."
  • "The reality is people just aren't shopping at Kohl’s anymore, myself included." (Zaid Admani, [08:11])

Amazon’s Robo Taxi Expansion ([08:16]–[09:25])

• Expansion Details:

  • Zoox (Amazon’s robo-taxi unit) is expanding testing to Phoenix and Dallas (joining SF & Las Vegas).
  • Chosen for extreme heat, dust, and sprawling roadways—different from SF’s tight streets.
  • Retrofitted Toyota Highlanders will map roads before custom Zoox taxis (no steering wheel) are deployed.
  • "These Zoox cars don't have a steering wheel or anything. It's literally a box on four wheels." (Zaid Admani, [09:10])

• Scale & Ambition:

  • Zoox has provided 300,000 rides vs. Waymo’s 20 million, but is growing rapidly.
  • Building a factory in the Bay Area aiming for 10,000 robo-taxis/year.
  • "Amazon could be a sleeping giant here." (Zaid Admani, [09:22])

Notable Quotes & Moments

• "When oil spikes, investors worry about inflation and economic slowdown and higher costs for businesses. But then when oil pulls back, it's like a pressure valve releasing across the entire market." (Zaid Admani, [01:50])
• "Live Nation put on 55,000 events last year. They sold 646 million tickets and they pulled in $25 billion in revenue." ([04:10])
• "The robo taxi wars are heating up and I think Amazon could be a sleeping giant here." (Zaid Admani, [09:22])

Key Takeaways

• Oil prices and geopolitical headlines are driving market volatility.
• Live Nation’s settlement with the DOJ may not provide full relief from antitrust scrutiny.
• SpaceX’s record-setting IPO could reshape index fund flows if rules change.
• Rivian surges on optimism for affordable EVs, while Kohl’s continues to struggle.
• Amazon’s Zoox quietly ramps up to challenge the big names in autonomous vehicles.

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