The markets traded lower during the midday with the Dow slipping 5 points to 21,201. Nasdaq lost 3 points to 6,302.
Harley-Davidson issued a voluntary global recall of approximately 57,000 motorcycles to fix an engine oil cooler line defect. Nine customers have reported that the oil line detached causing two crashes and one minor injury. The recall affects model year 2017 Electra Glide Ultra Classic, Police Electra Glide, Police Road King, Road King, Road King Special, Street Glide, Street Glide Special, Road Glide and Road Glide Special motorcycles that were built between July 2 and May 9.
British Prime Minister Theresa May urged the international community to regulate the internet in order to prevent terrorists from communicating and planning attacks online. Social media sites such as Facebook, Twitter and YouTube have been criticized for their failure to remove violent content and hate speech. Facebook said that it will use technology and human oversight to become "a hostile environment for terrorists" while Twitter pledged to "continue to expand the use of technology as part of a systemic approach to removing this type of content."
The U.S. Supreme Court ruled that the Securities and Exchange Commission's disgorgement process is subject to a five year statute of limitations. Disgorgement is the power of the regulatory agency to recover illegally obtained profits from companies that violate the law. The Department of Justice asserted that disgorgement was a means for equitable relief while the Supreme Court said that the practice was a penalty.
The broader S&P 500 eased a fraction to 2,438. Bitcoin leaped $94 to $2590.
