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September 01, 2020 10:18am
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Upbeat Data Lifts Markets To Higher Open

The nation’s industrial output rose 0.4% last month to lift the markets to a higher open with the Dow climbing 92 points to close at 14,691. Nasdaq gained 22 points to 3239.

On the upside

First quarter earnings slipped for Coca-Cola (NYSE: KO) but the results topped analyst estimates and the world’s largest beverage maker announced plans to refranchise its bottling business.

Citigroup (NYSE: C) introduced its new Pulse 2.0 upgraded corporate foreign-exchange electronic trading platform.

 

Shares of Halcon Resources (NYSE: HK) rose after providing an operational update yesterday.

On the downside

The Food and Drug Administration requested additional data from Sarepta Therapeutics (Nasdaq: SRPT) for its Duchenne Muscular Dystrophy drug eteplirsen.

Joe’s Jeans (Nasdaq: JOEZ) fell to a loss for the first quarter.

Netgear (Nasdaq: NTGR) lowered its first quarter earnings and revenue outlook.

  

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 index climbed 10 points to 1563.

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