Morning Business Report: Trump-Xi talks, Ticketmaster lawsuit, market records

President Donald Trump is set to speak with Chinese President Xi Jinping today, marking their first direct engagement since June.

(LILAMAX)- President Donald Trump is set to speak with Chinese President Xi Jinping today, marking their first direct engagement since June. Trade relations will be a major topic, along with the future of TikTok. Reports suggest a group led by Oracle and two investment firms is preparing to purchase TikTok’s U.S. operations, with more details expected later today.

Meanwhile, the Federal Trade Commission and seven states have filed a lawsuit against Ticketmaster, accusing the company of illegal ticket resale tactics that allegedly cost consumers billions. The suit claims Ticketmaster misled buyers by advertising lower prices than they ultimately paid, falsely limiting ticket purchases, and allowing brokers to resell tickets acquired in excess of those limits. Live Nation, Ticketmaster’s parent company, has not responded to the allegations.

On Wall Street, stocks closed at record highs Thursday. The Russell 2000 small-company index led the rally, as smaller firms typically benefit the most from lower interest rates.

FedEx offered cautious optimism about its business outlook, noting that while tariff uncertainty lingers, it expects strong package volumes during the upcoming holiday season, traditionally its busiest period.

In the auto sector, Hyundai is pressing ahead with expansion plans at its Georgia battery plant, which was recently raided by federal immigration authorities. The company announced a $2.7 billion investment to expand the facility, a move expected to create 3,000 additional jobs.