The markets traded higher during the midday with the Dow climbing 91 points to 18,331. Nasdaq gained 38 points to 5,330.
A group of religious investors filed a shareholder resolution that calls on Wells Fargo to report about the fake accounts scandal that prompted a $190 million fine. The religiously affiliated investors are also demanding that the bank report changes that have been made to its business practices and the implementation of controls to prevent future illegal activity. A number of resolutions have been filed at Wells Fargo including one calling for a study on breaking up the bank.
European Union regulators clarified that they are not investigating Google's tax deals in Europe. Regulators are investigating Google for antitrust violations. Google allegedly promotes its own shopping service over rival services on Internet search results. Google is also being investigated for using its Android operating system to stifle competition.
Facebook launched its private social network Workspace by Facebook for businesses. Workspace by Facebook looks and feels just like Facebook with News Feeds, Groups, and chat but there will be no advertising. But the private network will keep corporate data secure. Facebook is working to integrate other business tools into Workspace.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 climbed 10 points to 2,163. Bitcoin added $1 to $615.
