The markets extended its gains during the midday with the Dow climbing 66 points to 21,619. Nasdaq rose 26 points to 6,300.
Honda is recalling Accord models that were made between 2013 through 2016 to fix a defect that can cause an engine fire. Approximately 1.5 million cars are affected globally with 1.15 million cars covered by the recall in the U.S. A 12-volt battery sensor that may not have been properly sealed could erode or short and potentially trigger a fire.
Fiat Chrysler announced two separate recalls that will affect more than 1.3 million vehicles worldwide. A driver side airbag that may inadvertently inflate must be repaired in model years 2011 through 2015 Dodge Journeys and model years 2011 through 2015 Fiat Freemont crossovers. The alternators must be replaced in model years 2011 through 2014 Chrysler 300 and Dodge Charger sedans, Dodge Challenger coupes, Dodge Durango SUVs and model years 2012 through 2014 Jeep Grand Cherokee SUVs.
Rhode Island Representative David Cicilline has requested a Congressional hearing on Amazon's proposed $13.7 billion acquisition of Whole Foods Market. While the transaction must be approved by the Federal Trade Commission, Congress has no authority in the matter. Rep. Cicilline said that because the deal may negatively impact local grocery stores and consumers, the public must be made aware of all the possible impacts of acquisition.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 5 to 4 on Nasdaq. The broader S&P 500 rose 8 points to 2,456. Bitcoin plummeted $146 to $2169.
