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We are nine hours away from the biggest shopping day you might not know about. it is singles day. last year it raked in $31 billion. black friday and cyber monday only brought in a combined $14 billion. and amazon's prime day made just $4 billion. it became a huge day thanks to alibaba. it kicks off with the star-studded celebration that included james bond himself, daniel craig. taylor swift will be there this year. duncan clark joins us from alibaba's headquarters in china.

Thanks for joining us. we are getting a kick out of this story, duncan. last year it brought in 31 billion. what might it bring in this year? are there expectations? >> the only way is up. there are a lot of expectations from this event. every damore people come online in china and buy more stuff in china. we have a slowly economy. the online sale is the robust and attractive part. big expectations tonight. >> we can see all the celebration, the entertainment that surrounds it. that's a unique way to launch a sale. how did it slow become the biggest shopping day in the world? >> the idea of a ...

The lost productivity. i mean, the number you said. 504 million i think was the number. there's a study out that says in the last four years alone, it's closer to $731 billion. excuse me. billion dollars. and the majority and guess who is paying that and the majority and guess who's paying that bill? it's individuals and businesses. really the government has the smallest slice about 29% of that. >> the way the legal system works, it's not clear to me, but do they have to reach an agreement by when they are supposed to start this trial? >> no. they could reach a settlement if it does -- if it d...

Tech companies, they never expected, may be naively coming to be at the center. they're lying in the early days was we are just the pipes. we are the plumbing. the content is kind of a free-for-all. it's kind of a town square, a virtual town square. but it's getting trickier and trickier. >> dana: it's interesting that twitter sets. it's for all world leaders. >> they say they are not exempt from these rules. previously over the summer, twitter did say we will put a warning label, even it's a warning label. they have yet to do it, although i want to mention the ayatollah khomeini, iran's supre...

This morning. what we're seeing for the global markets. higher in tokyo there. a bit of pressure in europe, as well, though slight. asia stocks are higher, waiting for developments, the key thing here on the u.s./china trade war. trade talks lower level kicking off again this week. markets, in terms of futures for the united states, a touch higher today. obviously, the big story this week was the federal reserve, cutting interest rates on wednesday. now, a bit of volatility. the dow had been up for most of the day yesterday, before falling around 52 points. in fact, we've gone nowhere fast as ...