Oracle stock jumps as S&P 500 closed 0.4% higher, crossing the 6,600 level for the first time

Oracle jumped over 3% on Monday, moving with serious momentum after Donald Trump’s White House confirmed a preliminary TikTok deal was reached during U. S.-China trade talks in ￰0￱ S&P 500 also closed above 6,600 for the first time in ￰1￱ deal isn’t finished, but Treasury Secretary Scott Bessent said the two governments had agreed on a framework, and Trump and Xi Jinping will speak on Friday to finalize ￰2￱ American buyer for TikTok has officially been named yet, but Oracle is now seen as the ￰3￱ in the company shot up as much as 5% in premarket after Trump posted about the deal on Truth Social, calling the trade meeting “VERY WELL!” and saying a deal was reached for a “certain” company that “young people in our Country very much wanted to save.” The stock eased back during the day but still ended up more than 3%.

Oracle already holds TikTok’s ￰4￱ data Oracle’s connection to TikTok isn’t ￰5￱ Cryptopolitan previously reported , the company already stores American TikTok user data through Project Texas, an arrangement that started around ￰6￱ app needs to sell to a U. S.-allied company before September 17 or face a ban. Trump, now in his second term, said he may push the deadline ￰7￱ as it stands, Oracle has both the infrastructure and political backing to close a deal ￰8￱ White House had looked at a deal earlier this year where Oracle would run TikTok, reported Politico, though The Information noted that the plan might still give ByteDance, the Chinese parent company, some ￰9￱ part of the arrangement hasn’t been made ￰10￱ bidders include a group of investors led by Frank McCourt Jr., Microsoft, Mr.

Beast, and Perplexity AI, but none have the existing setup Oracle ￰11￱ company’s servers are already doing the ￰12￱ matters more now that Trump is back and pushing for stronger ￰13￱ over Chinese ￰14￱ S&P 500 closed 0.4% higher, crossing the 6,600 level for the first ￰15￱ Nasdaq Composite also hit a fresh high, climbing 0.8%, while the Dow Jones barely ￰16￱ headline move came from Tesla, which surged 7% after Elon Musk disclosed he bought $1 billion worth of his own company’s ￰17￱ was his first major open-market purchase since 2020, and the biggest ￰18￱ buy was seen as a signal that Elon is betting on Tesla’s next big shift, from just cars to robotics, as the EV field keeps getting ￰19￱ everyone had a good Monday, ￰20￱ dropped by 1.8% after China’s regulators accused the company of breaking anti-monopoly ￰21￱ probe is still ￰22￱ are, of course, intensely watching the Federal Reserve, which wraps its policy meeting on ￰23￱ latest labor numbers showed weakness, and inflation stayed low, which pushed bets higher that the Fed will cut interest ￰24￱ CME FedWatch Tool showed the market pricing in a 96% chance of a quarter-point cut, and just a 3.6% chance of a half-point ￰25￱ Oracle is still holding investor attention, with its stock up by 81% for the year, riding a cloud forecast that sees revenue climbing to $144 billion by 2030, helped by a $300 billion deal with ￰26￱ has also been central to Trump’s AI ￰27￱ January, Oracle chairman Larry Ellison stood alongside Sam Altman from OpenAI, Masayoshi Son from SoftBank, and Trump at the Oval Office, where they announced a $500 billion initiative called ￰28￱ plan?

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