BABA.BA is trading about 2% up now at $17100, extending the rebound from its June 25 pullback. With major U.S. indices up around 0.6%, the stock appears to be rising in line with broader market optimism following stronger-than-expected labor data and tempered Fed rate hike fears. No fresh Alibaba-specific news or catalysts have surfaced to explain an outsized move beyond this general risk-on sentiment.