Yahoo! Climbs on Alibaba Lockup Expiration; Stocks Rebound

Yahoo! (YHOO) moved higher in midday trading Monday after a lockup on 63% of Alibaba (BABA) shares ended over the weekend. Yahoo!, one of Alibaba's biggest shareholders, now has the option to sell stock. Yahoo! has previously discussed plans to spin off its 15% stake. Stocks rebounded to begin the week following declines of more than one percent to close out Friday. Markets had slumped as investors reacted to uncertainty as to when the Fed would make its move on interest rates. The housing market continued to show strength despite existing home sales dropping for the first time in four months in August. Sales in the U.S. fell nearly 5%, a faster drop than economists had expected.