RTTNews | Aug 25, 2020 04:45PM EDT

04:45 Tuesday, August 25, 2020

|BEGINSUB|Asian Shares Mostly Higher On Trade Talk Optimism|ENDSUB|Asian stocks rose broadly on Tuesday after U.S. stocks rallied overnight amid positive news on the coronavirus front and signs of progress in U.S.-China trade negotiations.The Office of the U.S. Trade Representative said in a statement that the U.S. and China are seeing progress and are committed to taking steps to ensure the success of their Phase 1 trade deal.

|BEGINSUB|European Markets Can't Hold On To Early Gains|ENDSUB|The major European stock markets opened higher on Tuesday but couldn't keep up the momentum as investors locked in gains from the previous day in a mixed session.Traders may also be looking ahead to Federal Reserve Chair Jerome Powell's highly anticipated speech at the Jackson Hole symposium on Thursday.

|BEGINSUB|Nasdaq, S&P 500 Reach New Record Highs, Dow Posts Modest Loss|ENDSUB|While the Nasdaq and the S&P 500 climbed to new record closing highs during trading on Tuesday, the Dow moved to the downside over the course of the session after reaching a six-month intraday high in early trading.

|BEGINSUB|Stock Alert: Best Buy Down 6% On Outlook |ENDSUB|Shares of Best Buy Inc. are losing more than 6 percent or $7.11 in Tuesdays morning trade at $110.26, after the electronics retailer warned that its third-quarter sales will likely not continue at the current rate of growth.

Tuesday, Best Buy said its second-quarter net earnings rose to $432 million or $1.65 per share from $238 million or $0.89 per share in the prior-year quarter. Excluding items, adjusted earnings were $1.71 per share, compared to $1.08 per share a year ago. Analysts polled by Thomson Reuters had a consensus earnings estimate of $1.08 per share. Analysts' estimates typically exclude special items.

|BEGINSUB|Stock Alert: Gap Up 6% After Rating Upgrade |ENDSUB|Shares of Gap Inc. (TS:GPS) are rising more than 6 percent or $0.99 in Tuesdays morning trade at $16.49, after a rating upgrade of the apparel retailer by Citi. According to reports, Citi has upgraded Gap to a Buy rating from Neutral.

Gap is scheduled to report its financial results for the second quarter on Thursday, August 27. On average, analysts polled by Thomson Reuters expect the company to report loss of $0.4 per share for the quarter on revenues of $2.91 billion. Analysts estimates typically exclude special items.

|BEGINSUB|Stock Alert: J. M. Smucker Climbs 8% On Upbeat Q1 Results, Outlook |ENDSUB|Shares of J M Smucker Inc. (TS:SJM) are gaining almost 8 percent or $8.97 in Tuesdays morning trade at $121.96, after the food products maker reported better-than-expected financial results for the first quarter and also raised its outlook for fiscal 2021.

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