Oracle Stock Rises on U.S.-China TikTok Deal Framework
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Oracle shares surged over 3% on Monday, outpacing the broader market's modest 0.5% gain. The rally followed news of a tentative U.S.-China agreement regarding TikTok's future operations. Treasury Secretary Scott Bessent confirmed the framework, with final terms to be negotiated in a Friday meeting between Presidents TRUMP and Xi Jinping.
The 2024 TikTok ban, which mandated ByteDance's divestiture of U.S. operations, appears to be softening through repeated reprieves. Oracle's existing cloud computing partnership with TikTok positions the tech giant to benefit from any resolution. Market participants interpreted Trump's cryptic Truth Social post about saving a youth-favored company as confirmation of the TikTok breakthrough.
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