The markets advanced during the midday with the Dow gaining 37 points to 22,063. Nasdaq added 4 points to 6,344.
Toyota partnered with Mazda to build a $1.6 billion manufacturing facility in the United States with the capacity to produce 300,000 vehicles each year. Toyota plans to assemble Corollas at the plant while Mazda will build new crossover vehicles. The Japanese automakers have not identified a site for the plant.
Wells Fargo will pay the U.S. government $108 million to settle a lawsuit over loans to veterans. The government has alleged that the bank overcharged veterans under a Veterans Administration refinancing program then hid their behavior from the government. Wells Fargo has denied the allegations and said that it was settling the claims in order to move forward.
Uber rented nearly 1,200 recalled Honda Vezel sport utility vehicles to its drivers in Singapore. The SUVs had defective electrical parts that could catch on fire. Uber claims that all faulty parts have now been repaired but Singapore's Land Transport Authority said that according to their records, only 9% of Uber's Vezels have been fixed.
In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 8 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 added 3 points to 2,475. Bitcoin gained $27 to $2693.
