NEW YORK (TheStreet) -- Alibaba's initial public offering, Apple's (AAPL) iPhone launch and the ever-changing color of Fed Chair Janet Yellen's tea-leaves will be major stories to watch on Wall Street when traders return from their summer holiday after Labor Day weekend.
Alibaba will headline Wall Street activity after Labor Day, even if there are a few major M&A announcements and market hiccups on geopolitical unrest next week. The Chinese e-commerce giant is poised for what could be the largest ever stock listing on the New York Stock Exchange, and the company and its founder Jack Ma are expected to kick off their IPO roadshow just after Labor Day.
If all goes as planned Alibaba could begin trading by mid-September, in what many be an IPO for the ages. While Alibaba does over 90% of its business in China, the company's listing will be a major story for U.S. investors.
Yahoo! (YHOO) currently owns over 20% of Alibaba, meaning a strong or weak offering could impact the company' share price. CEO Marissa Mayer also hasn't yet indicated what Yahoo! might do with its Alibaba investment once the company becomes publicly traded. As TheStreet's Jim Cramer notes, Alibaba's extremely dominant e-commerce businesses in China and the company's high margins may attract investors in U.S. listed giants like Amazon (AMZN) and eBay (EBAY) .
Meanwhile, underwriters Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan, Morgan Stanley and Citigroup are poised for a nice bump in equity capital markets activity.