Shares of retailers and other consumer companies climbed on hopes lawmakers can reach a stimulus deal.
Alibaba Group's stock pulled back slightly Friday after hitting a record high, as investor confidence builds that the coronavirus pandemic has accelerated China's rapid embrace of online commerce, and as its financial affiliate Ant Group prepares to go public.
The recent rally has lifted Alibaba's market value above $800 billion, cementing its position as one of the world's most valuable technology companies and opening a gap between it and Tencent Holdings.
Write to Amy Pesseto at amy.pesseto@dowjones.com
(END) Dow Jones Newswires
10-09-20 1801ET
