The markets traded higher during the midday with the Dow gaining 46 points to 19,778. Nasdaq rose 7 points to 5,547.
Uber reached an agreement with the Federal Trade Commission to settle allegations that the company greatly exaggerated the hourly and annual wages that a driver could earn. The inflated earnings were used to recruit drivers. Uber will pay $20 million with no admission of guilt.
Samsung will host a press conference on Monday in Seoul, South Korea to discuss the overheating battery problem that plagued the Galaxy Note 7. The battery problem triggered two global recalls and is expected to cost the company $5.3 billion. Unnamed sources say that irregularly sized batteries were the cause of the problem.
HSBC will eliminate approximately 100 senior investment banking positions in its Global Banking and Markets unit. The move is part of the bank's annual evaluation process. More layoffs are possible as the bank prepares for Brexit.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 index rose 4 points to 2,268. Bitcoin added $4 to $892.
