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🗓️ 1 June 2024
⏱️ 5 minutes
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0:00.0 | O. C.I. is the single platform for your infrastructure, database, application development, and AI needs. |
0:06.0 | Do more and spend less like Uber 8 by 8 and Databrics Mosaic. |
0:11.0 | Take a free test drive of OCI at oracle.com |
0:14.4 | slash Wall Street. |
0:20.0 | Hey listeners, it's Saturday June 1st. I'm Francesca Fontana for the Wall Street Journal |
0:25.3 | and this is what's news and markets. Our look at the biggest stock moves of the |
0:29.0 | week and the news that drove them. Let's get to it. Welcome to June. Of course after the Memorial Day weekend we had a shorter |
0:36.3 | trading week but it certainly wasn't boring. We saw a tech sell-off led by Salesforce, more on later some economic data on US spending that was a win for |
0:46.0 | interest rate cut optimists and on Friday we were all digesting the Trump verdict |
0:51.2 | of course more on that later, too. |
0:53.9 | In any case, the major indexes finish the week lower, |
0:56.8 | but all scored monthly gains for May. So I talk to talk to you guys a lot about AI and usually the narrative is that |
1:11.0 | it's bringing in gangbusters demand for tech companies right? |
1:14.6 | This week flipped the script a little bit and yes I will be addressing Google's hilarious |
1:19.7 | off-the-wall AI search results. |
1:22.0 | For one, Salesforce, the Cloud Software |
1:24.1 | software company posted disappointing quarterly sales cut its outlook for |
1:28.0 | subscription and support revenue and gave a downbeat forecast for the |
1:32.0 | current quarter. |
1:33.0 | The excitement around its new artificial intelligence tools, it seems, has yet to pay off. |
1:38.6 | Salesforce shares ended up plummeting 20% Thursday |
1:41.7 | and dragged other tech stocks down with it. |
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