The markets rebounded during the midday with the Dow soaring 132 points to 18,392. Nasdaq climbed 41 points to 5,207.

A class action lawsuit has been filed against Facebook for racial discrimination. Plaintiffs allege that Facebook's ad targeting tool allows discrimination against racial minorities in housing and employment ads. Targeting and excluding certain racial groups violates the Fair Housing Act and the Article VII of the Civil Rights Act of 1964.

Smith & Wesson is seeking shareholder approval to change its name to American Outdoor Brands beginning on January 1, 2017. The gun maker has expanded into the outdoors market by offering flashlights and tree saws. The name change will apply to the holding company. Smith & Wesson will continue to be the brand of its firearms unit.

Ireland will appeal an order by the European Commission that Apple pay $14.5 billion in unpaid taxes. The competition enforcer for the European Union said that Apple's tax deal which allowed the technology company to pay very little taxes to Ireland was illegal. Ireland's low corporate tax rate of 12.5% has been instrumental in the nation's efforts to lure international firms to its shores.

In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by nearly 7 to 5 on Nasdaq. The broader S&P 500 climbed 13 points to 2,145. Bitcoin gained $5 to $705.