Breakfast briefing: Friday, July 28 (Update)

Both US and Chinese e-commerce firms are grappling with the challenge of increasing their margins on fast moving consumer goods (FMCG).

MarketWatch: A swoon in technology and transportation shares led the S&P 500 slightly lower on Thursday on a day full of corporate earnings reports, but the Dow industrials set a record closing high, helped by a jump in Verizon. The DJIA rose 85.54 points, or 0.39%, to 21,796.55, the S&P 500 lost 2.41 points, or 0.10%, to 2,475.42 and the Nasdaq dropped 40.56 points, or 0.63%, to 6,382.19. - Reuters