In the news:
The Magnificent 7, GM, Nike, Lululemon, Deckers, PDD: Stocks in motion today / JD.com's quarterly profit nearly doubled, while revenue grew slightly amid fierce competition from Alibaba and e-commerce peer PDD. / How Temu parent PDD dethroned Alibaba to become China's most valuable e-commerce company / Temu, Pinduoduo parent PDD trades near cheapest level ever as tech war, Alibaba rivalry deter investors / Temu parent PDD tops Alibaba's market cap again on big earnings / PDD's Colin Huang surpasses Tencent, ByteDance founders as China's richest tech billionaire after Pinduoduo outgrows e-commerce rivals / Temu-owner PDD doubles revenues to cap 'pivotal' year / Temu parent PDD, JD.com shares gain as tech rally reboots / China's changing billionaires: PDD up, Country Garden down / As Temu shakes up global ecommerce, PDD nears overtaking Alibaba