The markets traded higher during the midday with the Dow rising 19 points to 21,428. Nasdaq gained 10 points to 6,186.
With the release of its mass market Model 3 sedan, Tesla will nearly double the number of service centers worldwide. The electric car maker will open 100 new service centers to increase the total from 150 to 250 service centers and add 350 mobile service vans. Approximately 1,400 technicians will be hired to staff the mobile and service centers.
Bankrupt and beleaguered Takata is recalling an additional 2.7 million faulty airbag inflators in the U.S. The latest recall covers driver side inflators that were made between 2005 through 2012 that were installed in Ford Motor, Mazda Motor and Nissan Motor vehicles. Takata has already recalled nearly 70 million airbags worldwide.
Meal kit delivery service Blue Apron Holdings, which became a publicly traded company on June 29, was saddled with a Sell rating and a $2 price target by Northcoast Research. The start-up is already trading below its initial public offering price of $10 per share. Analysts are concerned about rising marketing expenses amidst falling revenue per customer.
In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 8 on both the NYSE and on Nasdaq. The broader S&P 500 eased a point to 2,425. Bitcoin gained $13 to $2346.
