The markets climbed during the midday Dow soaring 94 points to 19,643. Nasdaq gained 30 points to 5,424.
McDonald's will create a new international holding company in the United Kingdom to avoid the possibility of paying back taxes of $500 million to Luxembourg. The fast food giant currently houses its international tax base in Luxembourg and has come under scrutiny from the EU for a sweetheart tax deal. The move will create more than 5,000 jobs in the U.K.
T-Mobile introduced its new Digits feature that will allow customers to call or text from any device with an Internet connection using their phone number. Digits is available now in a free beta version as an app for iOS and Android devices. Customers using laptops and desktops can access the new feature online. T-Mobile plans to make Digits available on Internet connected wearables as well.
The Organization of Petroleum Exporting Countries agreed last month to cut production in order to boost prices. OPEC is now reaching out to non-OPEC members to join the production cuts but only five countries out of fourteen have agreed to meet with OPEC. OPEC affirmed that it will cut production by 1.2 million barrels per day even if non-OPEC members refuse to lower their production numbers.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 index gained 7 points to 2,248. Bitcoin added $2 to $765.
