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

Oracle (ORCL) stock rose as much as 5% on Tuesday as the US and China reached a preliminary TikTok deal during trade talks in Madrid. Treasury Secretary Scott Bessent said at a press conference Monday that the two countries have agreed on a framework for a deal. Trump and Chinese President Xi Jinping are set to speak on Friday to "complete" the agreement. While a US buyer of TikTok has not been named, Oracle has emerged as a top contender to acquire the social media app. CBS News reported Tuesday that Or ...