Europe Markets Shrug Off China Stock Selloff, Oil at 11-Year Lows

European markets appear to have shrugged-off China's selloff overnight which ended the trading session with a five percent decline. Oil also took a hit. It's now at lows not seen in 11 years. Activist investor Starboard Value urged management at Macy's (M) to sell some of its real estate holdings as a way to unlock shareholder value on Sunday. Starboard said the sale of even a small portion of its $21 billion dollar real estate portfolio could help shares double. Just last week, Macy's said it would slash jobs and invest more online. The Detroit Auto Show will officially get underway Monday. On Sunday, Buick unveilied photos of the Envision crossover. The Envision will be the first vehicle from one of the big three automakers that's made in China and will be sold in the U.S. And, Tesla's (TSLA) Elon Musk took to Twitter Sunday with a bold prediction. He said that in roughly two years a Tesla owner will be able to summon their car to drive itself from New York to LA with charging along the way. The unofficial start to the quarterly reporting season kicks off after the bell with Alcoa (AA). Expectations are for the aluminum giant to earn two cents a share. The JPMorgan healthcare conference will get underway in San Francisco. Monday's presentations include Abbott, Biogen, Celgene and Gilead among others. And, fed watchers will hear from the Fed's Dennis Lockhart who speaks in Atlanta and Robert Kaplan speaks in Dallas. TheStreet's Ruben Ramirez has the latest from the Nasdaq Marketsite in New York.