US President Donald Trump confirmed direct talks with Chinese President Xi Jinping, Tesla CEO Elon Musk executed a $1 billion insider share purchase, Alphabet crossed the $3 trillion market capitalization threshold, and Nvidia came under fresh antitrust pressure in China.

U.S. equities were higher at midday on positive comments about China trade and the future of TikTok from President Trump, as well as Tesla ( TSLA) news. S&P 500 and Nasdaq gained, while the Dow Jones Industrial Average was little changed.

US stock futures (ES=F, NQ=F, YM=F) are moving in positive territory ahead of the Federal Reserve's September FOMC meeting this Wednesday, at which Wall Street expects officials to cut interest rates.

Oracle shares rose 3.4% on TikTok deal speculation and strong earnings, boosting confidence in its AI and cloud growth.

TikTok has long been a controversial platform with many U.S. lawmakers citing national security concerns over the app’s operations and its China-based parent company, ByteDance. Trump had unsuccessfully tried to ban it in his first term.

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President Donald Trump and Treasury Secretary Scott Bessent announced Monday that the United States and China have agreed on a deal for the sale of TikTok, avoiding its nationwide ban, tech reporter Drew Harwell reports.

Asian shares are trading higher as investor anticipation grew that the Federal Reserve will announce the first cut of the year on its main interest rate.

Willkie Farr & Gallagher has named its private equity head Jeffrey Poss as joint chair, a role he will start in January 2027 alongside current chair Matthew Feldman. He will succeed Thomas Cerabino. Goldman Sachs ’ Middle East and north Africa co-CEO, Fadi Abuali, is to leave after almost three decades at the firm, Bloomberg reports.