Alibaba's stock slipped 3.2% to $72.5, touching a fresh one-year low. The shares are down nearly 17% since the company last month posted in line second-quarter revenue and scrapped plans to spin off its cloud business. Meanwhile, shares of PDD Holdings have surged this week following stellar quarterly results from the Temu parent.
Investing.com -- U.S. futures traded in a mixed fashion Friday, starting a new month in a muted fashion ahead of a speech from Fed Chair Jerome Powell.
Alibaba founder Jack Ma is rallying the troops after blockbuster earnings from a competitor caused a stir.