The markets traded higher with the Dow surging 147 points to 18,519 as crude oil prices rose. Nasdaq gained 31 points to 5,036.
After two recent accidents of the Tesla Model S in Autopilot mode, Consumer Reports wrote that Tesla should disable the automatic steering feature until safety upgrades are made. The Tesla owner's manual does recommend that drivers keep their hands on the steering wheel at all times but there are no sensors to determine whether or not a driver has removed their hands.
Japanese messaging app Line debuted on the New York Stock Exchange at $42.00, 30% above its IPO price of $32.84. Line is the fifth tech company to go public this year and the largest technology IPO of 2016. The company raised $1.3 billion.
Goldman Sachs expects American oil companies to increase oil production next year. An estimated 700 oil rigs will need to be brought online to meet production goals. To support the rigs, approximately 100,000 job will be created.
In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by more than 5 to 4 on Nasdaq. The broader S&P 500 climbed 12 points to 2,165. Bitcoin held steady at $655.
