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Oracle stock jumps as US and China agree to preliminary TikTok deal

Oracle (ORCL) shares rose more than 3% on Monday as the US and China reached a preliminary TikTok deal during trade talks in Madrid. Treasury Secretary Scott Bessent said Monday that the two countries have agreed on a framework for a deal, multiple media outlets reported, with Trump and Chinese president Xi Jinping set to speak on Friday to "complete" the agreement. While a US buyer of TikTok was not named, Oracle has emerged as a top contender to buy the social media app. Shares in the tech firm spiked ...