From Yahoo Finance: 2025-05-06 10:33:00

US stocks surged on Friday, with the S&P 500, Dow Jones, and Nasdaq all posting gains. S&P 500 rose 1.5%, marking the longest winning streak since 2004. Dow and Nasdaq both gained approximately 1.5%. This rally followed positive US jobs data and signals of easing US-China trade tensions.

Amidst hopes of improved US-China relations, China expressed openness to trade talks and evaluating US proposals. The possibility of removing reciprocal tariffs was mentioned. The positive trade developments, along with strong job growth in the US, boosted confidence on Wall Street.

PDD Holdings Inc. (NASDAQ:PDD) is among the 10 most profitable cheap stocks to buy now. Known for its e-commerce platforms, Pinduoduo and Temu, PDD ranks high for profitability. The company has a forward P/E of 8.33, TTM Net Income of $15.18 billion, and 85 hedge fund holders.

Citi lowered its price target on PDD Holdings Inc. (NASDAQ:PDD) to $127 and maintained a “Neutral” rating. Uncertainties surround the company’s first-quarter results, with concerns about new tariffs and a shift in business model. PDD ranks 10th on the list, with potential for growth but AI stocks showing greater promise.

Read more: Is PDD Holdings Inc. (PDD) The Most Profitable Cheap Stock to Buy Now?