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September 01, 2020 10:18am
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S&P closes at record 2000

While the Dow advanced modestly by gaining 29 points to 17,106 as investors continued to monitor global developments, S&P 500 added 2 points to close at a record 2000. Nasdaq rose 13 points to 4570.

On the upside

Deutsche Bank analysts said that Arrowhead Research (Nasdaq: ARWR) was a good target for an acquisition.

Zacks Equity Research noted that Catalyst Pharmaceutical Partners (Nasdaq: CPRX) was a stock worth watching.

Acquisition speculation lifted shares of Isis Pharmaceuticals (Nasdaq: ISIS).

On the downside

First quarter earnings plunged for iKang Healthcare Group (Nasdaq: KANG) on a per share basis.

Prospect Capital (Nasdaq: PSEC) disappointed with lower fourth quarter net income.

Xueda Education Group (Nasdaq: XUE) reported lower second quarter earnings even as revenue rose.

In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 added 2 points to close at a record 2000. Bitcoin rose $5 to $508.

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