Daiwa Securities analyst John Choi said Alibaba could benefit from its AI cloud business and that losses at its AI lab and apps, and losses across other segments, may peak this quarter. Daiwa expects QoQ narrowing of AI lab/app losses as model training and inference efficiency improve and marketing intensity is reduced. Daiwa maintains a buy rating and raises Alibaba ADR PT to $185 from $180.

Citigroup's FX strategists, led by Daniel Toban, turned short-term bearish on the US dollar, citing markets pricing a more dovish Fed, US midterm election risk and the US Treasury's expansion of repo operations in 10–30yr securities. The team cut its 3-month dollar-index forecast to 98.34 from 102.12. Citi noted Treasury Secretary Bessent's move to expand long‑term Treasury repo as a potential drag on the dollar; the dollar index hit its weakest level since May on Wednesday and traded around 98.9 on Thursday, and the team said downside risks to the dollar have increased after a recent neutral stance.

CNN reports the US Navy has been advancing plans since early this year to rename the in-construction carrier CVN-81, currently christened Doris Miller, and has internally discussed naming it for President Trump, three people told the network. Two sources said internal proposals specifically suggested the Trump name. The carrier was named Doris Miller during Trump’s first term; delivery is scheduled for 2034.