The markets traded mixed during the midday with the Dow gaining 58 points to 19,914. Nasdaq lost 8 points to 5,543.
Target will introduce its new Art Class clothing brand for Generation Z shoppers on January 22. The 86 million teens and tweens of Generation Z outnumber the 75.4 million strong Millenials and contribute to approximately $600 billion in family spending each year. Art Class was developed and designed with the assistance of ten Generation Z social media influencers.
Facebook announced its Journalism Project to strengthen its relationship with the media. The social networking giant will collaborate with news organizations to create publishing tools and news products. Facebook will also train journalists on how to better connect with readers and educate users on how to assess the trustworthiness of online stories.
Samsung Group leader Jay Y. Lee will be questioned by a South Korean special prosecution team that is investigating an influence-peddling scandal that has prompted the impeachment of South Korean president Park Geun-hye. Samsung made contributions of approximately $25 million to foundations that were supported by President Park's friend Choi Soon-sil. Prosecutors are investigating a possible link between the payments and a decision in 2015 by the national pension service to support a merger of two group affiliates.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE while decliners edged out advancers by nearly 5 to 4 on Nasdaq. The broader S&P 500 index edged up a fraction to 2,269. Bitcoin collapsed $112 to $776.
