First time applications for unemployment benefits fell more than expected last week but the markets traded lower during the midday with the Dow losing 24 points to 18,549. Nasdaq added 4 points to 5,233.
Uber and Volvo partnered to invest a total of $300 million to jointly develop self-driving cars. Free rides in a self-driving Volvo XC90 will be offered to Uber customers in Pittsburgh at the end of the month. An Uber employee will sit in the driver's seat to monitor the car and take control if necessary.
T-Mobile responded to AT&T's announcement yesterday to end overage fees by eliminating its tiered data plans. Beginning September 6, T-Mobile will offer unlimited plans for data, text, and calls. Customers will have the option to continue with their data plans or switch to the T-Mobile One plan.
Harley-Davidson will pay a $15 million civil penalty and spend $3 million to mitigate air pollution to settle allegations that the company sold aftermarket devices that allowed motorcycles to cheat engine emissions standards. The motorcycle maker will also offer to buy back and destroy the devices. Harley-Davidson made no admission of guilt as part of the settlement.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 eased a fraction to 2,181. Bitcoin rose $4 to $574.
