Macy's Inc M shares are trading higher by 6.28% to $22.17 Wednesday afternoon. Shares of companies in the retail & apparel space are trading higher ahead of Thursday's CPI and jobless claims data. Investor hopes of slowing inflation could lead to expectations of softer future Fed policy, which could positively impact consumer spending.
What's Going On In The Broader Market?
The market is anticipating a critical consumer price index (CPI) inflation reading coming on Thursday morning.
Economists are expecting the U.S. Labor Department to report 6.5% CPI inflation in December, down from 7.1% in November and a peak of 9.1% in June. Economists are also projecting that core CPI inflation, which excludes volatile energy and food prices, gained 5.7% in December versus 6% in the previous month...Read More
According to data from Benzinga Pro, Macy's has a 52-week high of $28.21 and a 52-week low of $15.10.
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