The markets traded lower during the midday with the Dow losing 31 points to 18,005 over disappointing jobs data. Nasdaq fell 18 points to 5,135.
Tesla Motors must pay Panasonic $1.7 billion for electric vehicle battery cells that were made in Tesla's Nevada gigafactory. Panasonic invested in equipment and machinery at the factory that will be used to make cylindrical lithium-ion cells. The factory will begin making batteries at the end of the year.
Volvo Car Group introduced upgraded executive vehicles for China's premium auto market. The S90 sedans have built-in refrigeration compartments and handmade crystal Orrefors glassware. Volvo plans to make the high end cars in China.
A proposed racial discrimination lawsuit against Airbnb has been blocked. A federal judge ruled that Airbnb customers must abide by the short-term home rental company's user agreement that requires private arbitration to settle disputes. Users can neither sue the company nor participate in class-action lawsuits.
In the broad market, declining issues outpaced advancers by 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 fell 7 points to 2,104. Bitcoin lost $3 to $720.
