Alibaba Opens Higher Ahead of 'Singles Day', Largest Online Sales Day

Stocks were wobbling at Monday's opening bell. Earnings season is wrapping up but it will be a big week for retailers. Macy’s (M) and JCPenney (JCP) kick off on Wednesday. Thursday is even bigger with Walmart (WMT), Kohl’s (KSS) and Nordstrom (JWN) all lined up to report. The Wall Street Journal is reporting General Motors (GM) ordered 500,000 replacement ignition switches before it told federal safety officials. The problems eventually prompted massive recalls and are tied to at least 30 deaths. McDonald's (MCD) said same-store sales dropped at all of its regions in October. But the fast-food giant's worldwide declines were still smaller than expectations. Alibaba (BABA) shares are starting the day higher ahead of ‘Singles Day’ in China, which is the now the largest day of online sales in the world. The date is November 11, and the e-commerce giant got the exclusive rights from the Chinese government to use 11/11 label.