Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.6%), Nasdaq Composite (-0.7%), and DJIA (-0.4%) remain firmly beneath their baselines as the market enters the final hour of today's action. 

CNBC reports that President Trump is set to sign a finalized deal for TikTok this afternoon, with Oracle (ORCL 291.81, -16.65, -5.40%), Silver Lake, and Abu Dhabi's MGX to be the main investors in TikTok U.S.

35% of TikTok U.S. will be owned by General Atlantic and several other firms and ByteDance will only own 19% of TikTok U.S. after the deal is finalized. 

Oracle's stock popped earlier in the month after announcing an impressive increase in its RPO backlog. Even after facing some profit-taking this week, the stock is still up over 29% month-to-date.