The Latest Breaking News from BABA

The Dow Jones fell as Nike and Boeing stock tumbled. A trio of Warren Buffett stocks are near entries. China stock Alibaba plunged.

Over the last two years, the e-commerce giant Alibaba (BABA) was hit by heavy regulatory scrutiny, brutal competition, and China’s slowing economy. But the stock got a lift this year after the nation’s Covid reopening and easing of regulatory woes. Furthermore, the company announced a restructuring plan designed to enhance…

The March jobs report looms Friday, but U.S. markets will be closed. The market rally bounced Thursday to cap a mixed week. Google and Alibaba flashed buy signals.

Chip stocks led Thursday, lifting the semiconductor index more than 3% for the week.

June S&P 500 futures (ESM23) are up +0.91%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.93% this morning after three major U.S. benchmark indices finished the regular session lower, while U.S. Treasury yields climbed as market participants mulled the likely Fed’s interest rate trajectory amid easing bank jitters.

Tech and communication services stocks were two of the worst performers today as Treasury yields rose.

The Dow Jones fell as Alibaba soared. Three stocks, including Coinbase, struggled despite Cathie Wood buying shares. Micron earnings missed.

Today’s announcement by Alibaba Group Holding (BABA ) that it will split its $220 billion business into six main units encompassing e-commerce, media, and the cloud is another factor that may extend the recent rally in Chinese technology stocks. In addition, mostly better-than-expected earnings results from China’s mega-cap technology stocks...

In a groundbreaking move, Alibaba will split into six different companies that will operate independently and are free to raise funds.