"This article will be updated throughout the day, so check back often for more daily updates. Further details are leaking out regarding the weekend negotiations between U.S. and Chinese trade representatives, especially as regards the future (or lack thereof) of TikTok in America. According to one report, Oracle ( NYSE: ORCL) may lead a consortium of U.S. companies that would acquire TikTok's U.S. operations to enable the currently-Chinese-owned video sharing company to continue operating in the U.S."
"More broadly, Treasury Secretary Scott Bessent said today he believes the U.S. and China will be able to work out an agreement to avoid imposition of up to 145% "reciprocal" tariffs on Chinese imports to the U.S. before those tariffs go into effect on November 10. Rising prices for imported Brazilian coffee aren't doing much to help tiny Coffee Holding Co. ( Nasdaq: JVA). Last night the coffee company reported a $0.21 per share loss on $23.9 million in revenue."
U.S.-China trade negotiators showed progress and talks included discussions about TikTok's U.S. future. Oracle may lead a U.S. consortium to acquire TikTok's U.S. operations to allow the company to keep operating in the United States. Oracle shares rose more than 3% premarket and the Vanguard S&P 500 ETF inched higher. Treasury Secretary Scott Bessent expressed belief that an agreement could be reached to avoid imposition of up to 145% reciprocal tariffs before they take effect on November 10. Coffee Holding Co. posted a $0.21 per-share loss on $23.9 million in revenue while its stock traded higher premarket.
Read at 24/7 Wall St.
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