aliba alibaba, that is. we'll tell you why it could be the single best tech company to own right now. the action starts right now. >>> live in the nasdaq market site, i'm melissa lee. these are the traders. after a strong month of stocks, one name is standing out and that is alibaba. the chinese internet giant has added some $80 billion in market cap. meantime, google and amazon have seen their shares get slashed. so does america have a new favorite tech stock and will it so i remember ev soar even higher? dan, this could be a important event for the company. first conference call held by management. >> you said, does america have a new favorite tech stock. i think most americans don't know who alibaba is. you know who does? this was a free money extravaganza for large hedge funds. they got stock at $68 just about a month ago. now the stock's at $99. when you think about it, there's been tremendous pent up demands as consumers and retailers have been buying it in the after market. it's traded up 45% from the

. >> it became popular before aliba alibaba, but it never became a big retail celebration, until alibabated through its network. >> reporter: it's first users were young chinese singles living in cities. by targeting singles, businesses were reaching a big chunk of total online shoppers in china. five years ago, alibaba held its first single's day sales. selling more than $100 million in goods. a grew to nearly $6 billion last year, and is expected to top $8 billion this year. pretty good for a holiday that is largely one big marketing event, turbo charged by alibaba's founder. on single's day the company sells clothing to electronics, to furniture at discounts as steep as 90% off. the online giant offers plenty of incentives. it allows customers to make down payments of goods weeks ahead of time. and they can get steep discounts. the marketplace processes more than 10,000 transactions a second on this day. it touted this as a big selling feature to investors. alibaba's stock has scored roughly 70%. and today they shot up 4%. alibaba has its sights on the world. it's one-day sales actual

people exploit through this connect today, but you're also seeing growth companies, companies like aliba alibaba really quite fertile ground for a stock picker. >>> that's our favorite sector right now, the tech sector, also industrials. and in terms of evaluations, we're not too overvalued right here. we're pretty much in line with historical averages. and if you take a look around the globe, the u.s. large cap space seems to be in the best spot right now. the u.s. economy is doing very well. >>> and let's give you a rundown of what to watch this trading day in the u.s. october industrial production is out at 9:15 eastern time. the forecast to rise 9.2% at 10:00 a.m. when the chicago fed president charles evans is speaking. and jd.com reports resulting before the open as does tyson foods. after the close we hear from agient and urban outfitterses. >>> and the ceo of tgm is joining us now, scott, thank you for joining us. we'll talk about the lackluster data out of japan, how does that weigh on investor sentiment or when they focus on the strength anything data out of the u.s. that continues to