What’s News in Markets: Occidental Petroleum Wobbles, Tesla Gains, Bumble Soars - WSJ What’s News

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Summary of WSJ "What’s News in Markets" Podcast Episode: Occidental Petroleum Wobbles, Tesla Gains, Bumble Soars

Release Date: June 28, 2025

In this episode of What’s News in Markets hosted by Francesca Fontana from The Wall Street Journal, listeners are provided with an in-depth analysis of the week’s most significant stock movements and the underlying news driving these changes. The episode navigates through major developments in the global markets, with a particular focus on energy stocks, technological advancements in the automotive industry, and strategic moves within the online dating sector.

Market Overview

The week concluded on an optimistic note for the stock market, buoyed by several positive developments that fueled investor confidence. Francesca Fontana opens the discussion by highlighting the end-of-week surge in major indices:

“The S&P 500 and the NASDAQ composite both hit new intraday records early in Friday's session” (03:15).

This bullish trend was primarily driven by the steadfastness of a ceasefire between Israel and Iran, which alleviated concerns over potential disruptions in the global energy supply. The stabilization of oil prices played a crucial role in calming market nerves:

“The ceasefire between Israel and Iran seemed to stick, sending oil prices lower and easing fears of escalating conflict that could seriously disrupt the global energy market” (01:45).

Additionally, geopolitical optimism was further reinforced by President Trump's announcement of a trade deal with China, signaling a potential series of agreements that could benefit international trade relations:

“President Trump announced that a trade deal had been signed with China, and the White House signaled that more deals were coming” (02:05).

Despite a slight pullback later on Friday due to Trump's decision to halt trade talks with Canada over a controversial digital services tax, the market maintained its positive trajectory. Both the S&P 500 and NASDAQ managed to secure record closes by the end of the day, culminating in notable weekly gains:

Dow Jones Industrial Average: +3.8%
S&P 500: +3.4%
NASDAQ Composite: +4%

Energy Sector: Occidental Petroleum and Shell

Occidental Petroleum

Occidental Petroleum emerged as a focal point in the energy sector, illustrating the volatility influenced by Middle Eastern dynamics. The company saw its shares decline by 3.7% on Monday following U.S. military action against Iranian nuclear facilities over the weekend. The sentiment continued downward pressure with a further 3.3% drop on Tuesday as the market responded to the Trump administration's announcement regarding the Israel-Iran ceasefire:

“Occidental shares lost 3.7% on Monday following oil prices down after the U.S. bombed Iranian nuclear facilities” (04:20).

Despite the ceasefire holding, Occidental experienced a total weekly loss of 6.6%, reflecting ongoing investor uncertainty in the energy landscape.

Shell and BP

Another major story in the energy sector was the potential merger between Shell and BP. The Wall Street Journal reported early-stage negotiations for Shell to acquire BP, which would constitute the largest oil deal in decades. Shell’s immediate denial of these talks added to the speculative nature of the situation:

“Shell then denied that talks are taking place, calling it further market speculation” (06:10).

The market responded modestly, with Shell’s U.S.-traded shares initially declining by 1% on Wednesday but recovering 2.2% the following day, ultimately ending the week down by 2%. Conversely, BP’s shares fell by 1.6% mid-week and closed the week with a 2.9% decline.

Automotive Innovation: Tesla’s Entry into Robo-Taxis

Tesla made significant headlines with its foray into the autonomous ride-hailing market. The company announced the launch of its long-awaited driverless taxi service in Austin, Texas. These Model Y vehicles are equipped with an advanced version of Tesla’s Full Self-Driving (FSD) software, eliminating the need for a human driver. However, Tesla has implemented a safety measure by placing a monitor in the passenger seat:

“While there won't be anyone behind the wheel since the Model Y's will be piloted by an advanced version of the company's full self-driving software, the Tesla said a safety monitor would sit in the passenger seat” (07:45).

This strategic move positions Tesla against established players like Alphabet’s Waymo, intensifying competition in the autonomous vehicle sector. Despite the promising innovation, Tesla’s stock experienced volatility throughout the week. Following an 8.2% surge on Monday, the stock faced declines due to lower sales performance in Europe, ultimately finishing the week with a modest 0.5% gain.

Online Dating Sector: Bumble’s Strategic Restructuring

Bumble, the prominent online dating platform, announced a significant restructuring aimed at revitalizing its growth. The company revealed plans to lay off approximately 30% of its workforce, equating to around 240 employees. This measure is expected to generate up to $40 million in annual savings:

“Bumble expects the cuts to generate up to $40 million in annual savings” (09:30).

This move aligns with broader industry trends as companies strive to rebound from periods of sluggish growth, particularly as younger demographics shift their online dating habits. In parallel, rival Match, which operates platforms like Match.com and Tinder, also announced workforce reductions in May, cutting around 13% of its staff to streamline operations.

Investor reaction to Bumble’s announcement was overwhelmingly positive, with the company’s shares soaring by 25% on Wednesday and maintaining a 24% increase by week’s end:

“Bumble investors seemed to really cheer the news because its shares jumped 25% on Wednesday and held onto those gains, ending the week up 24%” (10:05).

Conclusion

The week in the markets was characterized by significant movements driven by geopolitical developments, strategic corporate actions, and innovations in technology. While the energy sector grappled with the impacts of international conflicts and potential mergers, Tesla's bold entry into autonomous ride-hailing showcased the evolving landscape of the automotive industry. Meanwhile, Bumble’s strategic layoffs highlighted the ongoing challenges and adaptations within the online dating market.

Francesca Fontana concludes the episode by directing listeners to additional resources for more detailed analyses:

“You can read about more stocks that moved on the week's news in the Score, my column in the Wall Street Journal's Exchange section” (11:50).

Produced by Zoe Culkin with supervising producer Taliar Bell, this episode encapsulates the dynamic interplay of global events and corporate strategies shaping the financial markets.

Note: Timestamps referenced correspond to notable quotes and sections within the podcast transcript.

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Foreign hey listeners, it's Saturday, June 28th. I'm Francesca Fontana for the Wall Street Journal, and this is what's news in markets, our look at the biggest stock moves of the week and the news that drove them. Let's get to it. Well, the stock market sure ended this week on a high note. Stocks were on the rise in recent sessions after the ceasefire between Israel and Iran seemed to stick, sending oil prices lower and easing fears of Escal conflict that could seriously disrupt the global energy market. And late on Thursday, President Trump announced that a trade deal had been signed with China, and the White House signaled that more deals were coming. So as investors were fueling the optimism, the S&P 500 and the NASDAQ composite both hit new intraday records early in Friday's session. And then later in the afternoon, stocks pulled back, paring the day's gains. Why? Because Trump said he was cutting off all trade talks to Canada over what he called called an egregious digital services tax on American tech companies. But stocks were bouncing back before the end of the session, and The S&P 500 and NASDAQ still notched record closes on Friday. And all three major indexes posted weekly gains, with the Dow gaining 3.8%, the S&P 500 gaining 3.4%, and the Nasdaq gaining more than 4%. First, let's talk about some oil stocks that were front and center this week. Let's start with Occidental Petroleum, which is a good proxy for how energy stocks have dealt with developments in the Middle East. Occidental shares lost 3.7% on Monday following oil prices down after the U.S. bombed Iranian nuclear facilities over the weekend. And they kept moving lower on Tuesday, falling 3.3% as traders digested Trump's announcement of Israel and Iran's ceasefire dealing with and the continued fire between the two countries that came shortly after the deal had gone into effect. But as the ceasefire held, the stock made smaller moves the rest of the week, ending with a weekly loss of 6.6%. Now let's turn to Shell, which made headlines this week, not because of oil prices and global conflict, but because of M and A. The Wall Street Journal reported Wednesday that, per people familiar with the matter, Shell is holding early stage talks to acquire its rival BP in what would be the largest oil deal in a generation. Shell then denied that talks are taking place, calling it further market speculation, and a BP spokesman declined to comment on the Journal's report. U.S. traded shares of Shell declined 1% on Wednesday, rising 2.2% the next day and ending down 2% on the week. Meanwhile, U.S. traded shares of BP lost 1.6% on Wednesday, edged slightly lower on Thursday and fell 2.9% for the week. Foreign Next up Tesla has officially stepped into the robo taxi ring. Last weekend, Elon Musk's electric car maker launched its long awaited driverless taxi service in Austin, Texas. But while there won't be anyone behind the wheel since the Model Y's will be piloted by an advanced version of the company's full self driving software, the Tesla said a safety monitor would sit in the passenger seat. So by entering this growing autonomous ride hailing arena, Tesla will now face off with Alphabet's Waymo and other companies testing out their own services. Who will be the victor? We'll have to wait and see. Tesla shares rose 8.2% Monday but fell the rest of the week, including on falling sales in Europe, and the stock ended the week up just half a percent. Finally, Bumble is trying to get its buzz back. The online dating company said it will lay off about 30% of its employees, or roughly 240 workers. Bumble expects the cuts to generate up to $40 million in annual savings. The company and the industry at large are trying to bounce back from years of sluggish growth as younger people retreat from online dating. In May, rival match, which operates Match.com and Tinder, said it would cut 13% of its workers, or about 325 people, as it reduced management layers. Bumble investors seemed to really cheer the news because ITS shares jumped 25% on Wednesday and held onto those gains, ending the week up 24%. And now you know what's news in markets this week. You can read about more stocks that moved on the week's news in the Score, my column in the Wall Street Journal's Exchange section. Today's show is produced by Zoe Culkin with supervising producer Taliar Bell. I'm Francesca Fontana. Have a great week.