US Stock Market Move | Oracle Corporation (ORCL.US) rises by 5%, rumors are circulating that the company is participating in forming a consortium to maintain TikTok's operations in the United States.

On Tuesday, Oracle Corporation (ORCL.US) rose by 5% to $317.56. In the news, it was reported that Oracle Corporation is participating in a consortium trying to maintain TikTok's operations in the United States under a possible framework agreement between China and the US. The report cited sources familiar with the matter saying that in this latest development, the specific structure of the deal is still unclear, but it may involve a consortium of multiple companies and the future involvement of TikTok's owner ByteDance is also uncertain. On Monday, it was reported that the Trump administration is expected to once again extend the deadline for ByteDance to divest its TikTok US business. Previously, the US government had demanded ByteDance to complete the divestment by September 17 this year, otherwise they would ban its operations in the US. If the reports are true, this will be the fourth time President Trump has given TikTok an "extension." Last month, Trump said he had found a buyer for the app in the US and may further extend the deadline.