Oracle Surges as S&P 500 Hits Record High Amid TikTok Deal Optimism

U.S. equities rallied sharply on Monday as markets cheered a preliminary agreement between Washington and Beijing over the future of TikTok. Oracle Corp., positioned as the frontrunner to acquire the Chinese social media platform, saw its shares jump more than 4% during the session. The broader S&P 500 index breached the 6,600-point threshold for the first time in history.

Treasury Secretary Scott Bessent confirmed the existence of a framework agreement, fueling speculation ahead of Friday's scheduled meeting between Presidents TRUMP and Xi Jinping to finalize terms. ByteDance has been ordered to divest TikTok's U.S. operations, with Oracle emerging as the likely beneficiary. The database giant's stock has already gained 81% year-to-date, bolstered by strong cloud computing forecasts.