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September 01, 2020 1:37pm
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Flat open despite strong Black Friday sales

The markets opened flat with the Dow slipping 5 points to 23,552 despite strong Black Friday sales. Nasdaq held steady at 6,889.


On the upside


Strong Black Friday sales lifted shares of retailers American Eagle Outfitters (NYSE: AEO) and L Brands (NYSE: LB).


Meredith (NYSE: MDP) will acquire Time (NYSE: TIME) for approximately $2.8 billion.


Shares of Regal Entertainment Group (NYSE: RGC) extended its gains.

On the downside


Profit taking weighed down shares of Square (NYSE: SQ).


Motley Fool wrote that among chipmakers, Intel (Nasdaq: INTC) was a better buy over Micron Technology (Nasdaq: MU).


Retreating crude oil prices weighed down shares of Oasis Petroleum (NYSE: OAS).


In the broad market, advancing were on par with decliners on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 held steady at 2,602. Bitcoin surged $357 to $9,597.


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