The Federal Reserve held interest rates steady sending the markets soaring with the Dow surging 98 points to 18,227. Nasdaq climbed 35 points to 5,277.
The Securities and Exchange Commission charged billionaire investor Leon Cooperman with insider trading. The SEC alleges that Cooperman used his role as a major shareholder of Atlas Pipeline Partners to gain confidential corporate information. Then, Cooperman used his fund Omega Advisors to invest in Atlas Pipeline Partners. Omega Advisors earned approximately $4 million by trading Atlas Pipeline Partners.
Approximately 1,400 lawsuits have been filed in a German court against Volkswagen over its emissions test rigging scandal. Shareholders are seeking nearly $9.2 billion in damages. Volkswagen has lost about a third of its market value in the aftermath of the emissions cheating scandal.
In its continuing efforts to provide healthier food, Panera Bread will begin serving "clean" bacon at all of its locations. Clean bacon has no artificial preservatives, flavors, sweeteners or colors. It will be made from pork, water, sea salt, sugar, celery powder and thyme extract.
In the broad market, advancing issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 soared 15 points to 2,155. Bitcoin tumbled $12 to $596.
