Stock Market Live September 19: President Xi Takes President Trump's Call, S&P 500 (VOO) Rises
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Stock Market Live September 19: President Xi Takes President Trump's Call, S&P 500 (VOO) Rises
"Chinese President Xi and U.S. President Trump aren't talking face to face yet, but they are talking person to person on the phone. At this very moment, reports CNBC, a call is in progress to discuss whether China will permit a controlling interest in TikTok's U.S. operations to be sold to a consortium of U.S. companies led by Oracle ( NYSE: ORCL), and whether TikTok will be permitted to continue operating here - or forced to shut down."
"Finally, two big S&P 500 component companies reported earnings last night. On the minus side, Lennar Corp ( NYSE: LEN) missed earnings by a dime, reporting a $2 per share profit for its fiscal Q3 2025. Revenue likewise fell short of expectations at $8.8 billion; Wall Street analysts had predicted closer to $9 billion. Lennar stock is down 3.5% premarket."
"In other news... there isn't a whole lot of macroeconomic news today. The Vanguard S&P 500 ETF ( NYSEMKT: VOO) closed at an all-time high Thursday after the Federal Open Market Committee cut its target interest rate as low as 3.75% Wednesday. The Voo gained 0.5% yesterday, and is up another 0.3% premarket today."
Chinese President Xi and U.S. President Trump spoke by phone to discuss whether China will permit a controlling interest in TikTok's U.S. operations to be sold to a U.S. consortium led by Oracle and whether TikTok will be allowed to continue operating or be forced to close. The Trump administration has postponed a shutdown deadline to December 16. The Vanguard S&P 500 ETF (VOO) hit an all-time high after the Federal Open Market Committee cut its target interest rate to 3.75%, with VOO rising and showing premarket gains. Lennar missed earnings and revenue estimates, while FedEx beat earnings and revenue but offered underwhelming guidance.
Read at 24/7 Wall St.
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