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September 01, 2020 1:37pm
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Dick's Sporting Goods stops selling assault rifles

The markets traded modestly higher during the midday with the Dow adding 5 points to 25,416. Nasdaq gained 37 points to 7367.


Dick's Sporting Goods will stop selling assault-style rifles and high capacity magazines in all of its stores immediately. The sporting goods retailer removed all military-style semiautomatic rifles from its Dick's stores five years ago after the Sandy Hook Elementary School massacre that killed 20 children and six staff members but its Field & Stream stores continued to carry the weapons. In addition, customers must be over 21 years of age in order to buy a gun at any of its stores.


Pizza Hut has replaced Papa John's as the official pizza sponsor of the NFL. Papa John blamed falling pizza sales on the NFL's inability to resolve player protests during the national anthem. The four year deal grants Pizza Hut exclusive marketing rights to create local deals and fan experiences in the 32 team markets.


Lowe's has expanded its partnership with Sherwin-Williams by becoming the exclusive nationwide home center to offer Minwax, Cabot, Thompson's Water Seal, Purdy, and Krylon paint brands. Sherwin-Williams will now be the only nationwide supplier to Lowe's for interior and exterior paints. Lowe's will also update its paint service desk with an improved product selector display and a simplified and streamlined service model for customers to more easily select a paint product.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on the NYSE and by nearly 9 to 8 on Nasdaq. The broader S&P 500 rose 7 points to 2,751. Bitcoin plummeted $271 to $10,479.


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