AsianFin -- Oracle (ORCL) stock climbed more than 3% on Monday after the United States and China reached a preliminary agreement on TikTok during trade negotiations in Madrid.
U.S. Treasury Secretary Scott Bessent confirmed Monday that both sides had agreed on a framework for a deal, according to multiple media reports. The agreement is expected to be finalized when U.S. President Donald Trump and Chinese President Xi Jinping speak on Friday.
Although no U.S. buyer has been officially named, Oracle has been widely seen as a leading candidate to acquire TikTok’s U.S. operations. The speculation fueled strong market momentum, with Oracle shares surging as much as 5% in premarket trading after Trump hinted at progress on social media. Gains moderated slightly by midday but still left the stock firmly higher.
The news underscores how TikTok has become a central focus in U.S.-China trade talks, blending technology, national security, and geopolitical concerns with corporate dealmaking.
Explore more exclusive insights at nextfin.ai.
