Alibaba makes a major push to topple Amazon

Stocks are struggling to keep the rally going in early trading. Meanwhile, investors are keeping an eye on Alibaba after the Chinese e-commerce giant boosts its research and development budget by $15 billion over the next three years. Yahoo Finance’s Alexis Christoforous, Jared Blikre, Justine Underhill and Rick Newman discuss the big stories of the day.

Today’s topics:

  • Alibaba to pour $15B in R&D
  • $3.1T in property at risk from CA wildfires: rpt
  • Dow attempts its 48th record high today
  • Delta jumps on beat, despite hurricane cancellations
  • JetBlue predicts dismal Q3, Q4 results due to hurricanes
  • BlackRock now manages $6T in assets
  • SeaWorld sinks after Merlin abandons takeover talks
  • Pres Trump to pitch new tax plan in PA today
  • Instagram engagement climbs, Facebook’s tumbles: PiperJaffray
  • Apple inks deal with Spielberg for ‘Amazing Stories’ reboot

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