S&P futures are indicating a higher open today, up +0.11%. Asian markets finished Tuesday trading mixed, while European markets are broadly firmer in early trades. For today's highlight, Chinese e-commerce firms are facing significant challenges due to a weak economy and intense competition. PDD Holdings warned of slowing revenue growth, causing its stock to drop (29%), the largest single-day loss since its IPO, erasing nearly $55B in market value. This impacted Alibaba (NYSE:BABA) and JD.com, which both fell (4%). Analysts see PDD's struggles as indicative of broader headwinds in China's e-commerce sector, as companies compete in a saturated market.
Companies Mentioned: Paramount Global (NASDAQ:PARA), Disney, Zip Co, Apple (NASDAQ:AAPL)