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Feds investigate Alibaba over suspicious accounting

Stocks (^DJI, ^GSPC, ^IXIC) are rallying for the second day in a row at midday, led by energy (XLE) and financials (XLF), with only utilities (XLU) in the red. Keith Bliss of Cuttone & Co. joins us live from the New York Stock Exchange.

To discuss the other big stories of the day, Alexis Christoforous is joined by Yahoo Finance's editor-in-chief Andy Serwer and Tom Lydon, CEO of ETFtrends.com.

SEC looks into Alibaba
Alibaba (BABA) says the SEC is looking into consolidation practices and the company’s reporting of operating data on Singles' Day. Alibaba says it is cooperating with the investigation. But why might investors be happy this investigation is happening?

Microsoft is cutting its staff
Microsoft (MSFT) will let go of 1,850 employees after selling part of its phone business. Is the tech giant bailing from the phone market all together?

Your kitchen is about to get a lot smarter
Your kitchen will soon be integrated with your smartphone. New startup Innit is selling refrigerators outfitted with cameras and sensors that can send you live feeds. Will it be adopted worldwide?