The Rundown – Detailed Summary

Episode Title: Oracle Stock on Pace for Best Day Since 1992, Klarna Set to Make IPO Debut
Host: Zaid Admani
Date: September 10, 2025
Podcast: The Rundown by Public.com

Episode Overview

In this fast-paced episode, host Zaid Admani breaks down the day’s pivotal stock market news, including record high closes for major indices, dramatic shifts in the labor market, Apple’s latest product event and stock dip, Klarna’s highly anticipated IPO, a massive surge in Oracle stock following stellar cloud business numbers, and the sneaky rise of prediction markets in sports betting. With a sharp, conversational tone, Zaid navigates listeners through the big wins, surprise losses, and regulatory news dominating the financial headlines.

Market Highlights and Economic News

1. Stock Market Rally Amid Weak Labor Numbers

• [00:34]: Both S&P 500 and Nasdaq hit all-time highs, closing up 0.3%—marking their 22nd record close of the year.
• The surprising jump occurred despite a Bureau of Labor Statistics (BLS) revision that slashed job growth numbers by 911,000 for the past year.
  • “Instead of adding the 1.8 million jobs that was previously reported, the US economy actually added less than half of that… That’s the steepest downward revision we’ve had in decades.” – Zaid Admani [01:13]
• Investors seem enthusiastic because weaker labor data increases the likelihood of a Federal Reserve interest rate cut at next week’s meeting.

2. Federal Reserve Independence & Legal Drama

• President Trump’s attempt to fire Fed Governor Lisa Cook (for alleged pre-office conduct) was blocked by a federal judge.
  • “The judge said that Cook’s removal violated the Fed’s independence and that the president can’t fire a Fed governor for cause for conduct that happened before they took office.” – Zaid Admani [02:12]
• The case is likely to reach the Supreme Court.

3. Supreme Court to Decide on Trump-era Tariffs

• The Supreme Court fast-tracks oral arguments for the legality of controversial “reciprocal” tariffs.
  • If struck down, US Treasury might have to refund up to $1 trillion. [03:01]

4. Inflation Print Surprises Markets

• The Producer Price Index (PPI) showed a 0.1% decline in wholesale prices for August; economists expected a 0.3% increase.
  • “The fact that prices are falling really opens the door for the Fed to cut rates aggressively.” – Zaid Admani [03:27]
• CPI inflation data is forthcoming.

Company Spotlights and Stock Moves

5. Apple’s iPhone Event: Big Upgrades, Stock Down

• [04:15]: Apple unveiled the iPhone 17 lineup:
  • Base model: better screen, higher refresh rate, upgraded chip and cameras, same starting price at $799.
  • iPhone 17 Pro: improved camera, new unibody design, new colors (including orange), now $1,099 with more storage (256GB base).
  • iPhone Air: Thinnest iPhone ever, “an engineering marvel” with a pro chip at $999. Zaid thinks it’s “a huge hit” and forecasts it prefaces a foldable for next year.
    • “I was pretty skeptical about this phone. I didn’t think people would want a super thin phone, but after seeing it, this phone looks really nice.” – Zaid Admani [05:14]
• New AirPods Pro (better noise-canceling, live translation) and Apple Watches were also announced.
• Despite the product excitement, Apple stock fell 1.5%.
  • Zaid speculates this is “maybe because investors were hoping for some AI news,” but sees Apple’s restraint as wise after past over-promising. [06:26]

6. Klarna IPO: Buy Now, Pay Later Giant Goes Public

• [07:05]: Klarna prices IPO above range at $40/share, valuing it around $15 billion; signals strong demand.
• Key stats:
  • 111 million active users
  • Works with 800,000 merchants
  • $112B in annual purchases; $3B in annual revenue (+6.17% YoY)
• Risks:
  • Criticism over consumer over-indebtedness: “Users most likely to fall behind…are already financially constrained.” – Zaid Admani [07:48]
  • Potential regulatory scrutiny and valuation well below 2021’s $45B peak.
• Ticker symbol: KLAR (NYSE debut).

7. Oracle’s Jaw-Dropping Surge

• [08:18]: Oracle stock rockets 30%+, backlog grew from $359B to $455B, mainly driven by cloud infrastructure demand.
  • “That is crazy. The company has nearly half a trillion dollars in backlog now.” – Zaid Admani [08:27]
• Cloud boom:
  • Oracle is challenging AWS, Azure, Google Cloud.
  • Deal to supply OpenAI with 4.5 gigawatts of data center capacity; counts ByteDance, Nvidia as major customers.
  • “Oracle’s cloud business has been a big winner of the AI boom, and that’s pushing Oracle stock to the moon.” – Zaid Admani [09:04]
  • Company nears entry to the trillion-dollar club; founder Larry Ellison could become the world’s richest man.

8. Synopsys Stock Hit by Weak Earnings

• Design IP division struggles due to US export restrictions on China and foundry partner issues.
  • “That news is sending Synopsys shares down more than 20% this morning.” – Zaid Admani [09:57]

Trend Spotlight: Prediction Markets Mimic Sports Betting

9. Prediction Markets’ Surprising Rise

• [10:18]: Kalshi, a prediction market site, saw over $441M in trades during NFL Week 1—nearly matching U.S. presidential election betting volumes.
• These markets trade ‘events contracts,’ circumventing state gambling laws since they're regulated as commodities.
  • “These contracts can be traded in real time. This essentially looks and feels like a sports bet, but since they’re regulated as commodities, they’re legal in all 50 states.” – Zaid Admani [11:02]
• Potential threat to established sportsbooks (FanDuel, DraftKings); rumors they may launch similar offerings.

Notable Quotes & Memorable Moments

• “That’s the steepest downward revision we’ve had in decades.” (on BLS job data) – Zaid Admani [01:18]
• “After seeing it, this phone looks really nice. Not only is it an engineering marvel, it’s also going to have a pro chip inside and it’s going to be sold for $999.” (on iPhone Air) – Zaid Admani [05:16]
• “Oracle’s cloud business has been a big winner of the AI boom, and that’s pushing Oracle stock to the moon.” – Zaid Admani [09:04]
• “These contracts can be traded in real time…since they’re regulated as commodities, they’re legal in all 50 states.” (on prediction markets) – Zaid Admani [11:02]

Key Timestamps

• 00:34: Record closes for S&P 500 and Nasdaq
• 01:13: Deep BLS downward revision to job growth
• 02:12: Judge blocks Lisa Cook’s firing
• 03:01: SCOTUS fast-tracks Trump tariffs case
• 03:27: PPI inflation surprise opens door for rate cuts
• 04:15: Apple iPhone event recap
• 07:05: Klarna IPO overview and risks
• 08:18: Oracle’s 30%+ stock surge and cloud leadership
• 09:57: Synopsys stock drop explained
• 10:18: Prediction markets rival sports betting

Conclusion

This punchy, insight-packed episode covers massive market moves, bold tech reveals, and the regulatory shifts shaping the financial landscape—all in under ten minutes. Zaid’s blend of market savvy, skepticism, and humor helps listeners quickly catch up and dig into the stories behind the numbers. Perfect for anyone wanting to stay sharp on daily market developments.