Wall Street Rallies, Berkshire Hathaway Nears Deal, Disney Loses Subscribers: Bloomberg Money Minute

Market Performance and Economic Outlook

• 📈 Wall Street concluded the day higher, marking gains for both the month of September and the third quarter.
• 📊 The Dow Jones Industrial Average rose by 82 points, the Nasdaq gained 69 points, and the S&P 500 added 27 points.
• ⚠️ Despite the increased likelihood of a government shutdown, President Trump has threatened mass firings of federal workers, potentially furloughing 750,000 employees.

Berkshire Hathaway Acquisition

• 🤝 Warren Buffett's Berkshire Hathaway is reportedly close to an agreement to acquire Occidental Petroleum's OxyChem Petrochemical business.
• 💰 The deal is valued at approximately $10 billion.
• 🏭 The OxyChem unit produces chemicals used in various applications, including chlorinated water, recycling batteries, and paper product manufacturing.

Disney Streaming Subscriber Losses

• 📉 Disney has seen more than 1.7 million paid subscribers cancel their memberships across its streaming platforms, including Disney Plus, Hulu, and ESPN.
• 📺 This subscriber drop follows the decision by Disney ABC to take Jimmy Kimmel Live off the air for two weeks.