The markets extended its gains during the midday with the Dow leaping 173 points to 20,057. Nasdaq gained 21 points to 5,657.
Snapchat parent company Snap expects to raise $3 billion in its initial public offering. The disappearing photo site reported revenue of approximately $400 million in 2016 and losses of $514.6 million. Snapchat boasts 158 million daily users who create and share 2.5 billion photos every day.
Dollar General opened its new smaller-format DGX store in Nashville that is targeting millennial shoppers. The store offers convenience to busy millennials with a brewed coffee station, soda fountain, prepackaged sandwiches, and select groceries. Pet supplies, paper products and household cleaning supplies are also available.
Nordstrom has dropped the Ivanka Trump line of clothes, shoes and accessories. The upscale department store said that the decision was not motivated by politics but rather by business. The company regularly reviews the performance of every product then makes changes to its offerings.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 index climbed 15 points to 2,296. Bitcoin rose $6 to $1,005.
