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September 01, 2020 1:37pm
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Market rally continues despite gain in producer prices

The markets continued to rally with the Dow rocketing 306 points to close at 25,200 despite a gain in producer prices. Nasdaq leaped 112 points to 7256.


On the upside


The Food and Drug Administration approved the Makena subcutaneous auto injector that was developed by AMAG Pharmaceuticals (Nasdaq: AMAG) and Antares Pharma (Nasdaq: ATRS).


SolarEdge Technologies (Nasdaq: SEDG) reported higher fourth quarter earnings that topped analyst estimates.


Syntel (Nasdaq: SYNT) reported stronger than expected earnings for the fourth quarter.

On the downside


Textainer Group Holdings (NYSE: THG) swung to a profit for the fourth quarter but the stock price tumbled.


Fourth quarter earnings surged for CAI International (NYSE: CAI) due to a tax benefit but the stock price plunged.


Rush Enterprises (Nasdaq: RUSHA) reported sharply higher fourth quarter earnings and revenue but the stock price plummeted.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 surged 32 points to 2,731. Bitcoin jumped $526 to $9,983.


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