The markets extended its gains during the midday with the Dow surging 172 points to 18,316. Nasdaq climbed 42 points to 5,311.
Mitsubishi will begin selling eight vehicle models in the U.S. again after a mileage cheating scandal. Mitsubishi admitted that it overinflated the mileage on 12 vehicle models. The mileage fraud reportedly began as early as 2005.
Customers have complained that replacement Samsung Galaxy Note 7 smartphones are also overheating. Samsung recalled 2.5 million Note 7 phones around the world earlier this month in response to a faulty battery that could cause some phone to explode. Samsung is handling the replacement complaints on an individual basis.
China has issued permits to at least two state-owned companies to export corn. There has been a significant surplus of corn in China and the nation expects another bountiful harvest this season. Approximately 2 million tones of corn has been approved to be sold abroad.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 climbed 17 points to 2,168. Bitcoin edged up to $604.
