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September 01, 2020 10:18am
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Strong retail sales lift markets

A stronger than expected 1.2% jump in retail sales lifted the markets to a higher open with the Dow climbing 78 points to 18,079. Nasdaq gained 21 points to 5,098.

On the upside

China Jo-Jo Drugstores (Nasdaq: CJJD) reported that annual online sales surged at least 90% while sales at its own online site leaped more than 200%.

Box (NYSE: BOX) reported a narrower than expected loss for the first quarter as revenue soared prompting the company to lift its full year outlook.

Roth Capital initiated coverage of PlasmaTech Biopharmaceuticals (Nasdaq: PTBI) with a Buy rating.
 
On the downside

Shares of MannKind (Nasdaq: MNKD) extended its losses.

Scorpio Bulkers (NYSE: SALT) stock continued falling.

Oppenheimer downgraded Chesapeake Energy (NYSE: CHK) from an Outperform rating to a Perform rating.
 
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 gained 7 points to 2112. Bitcoin edged up a fraction to $229.

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