
"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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