Macy’s Drags Retail Down, Apple Hits $500: Market Recap
U.S. stocks fell today upon disappointing earnings results from Macy’s Inc. (NYSE:M), which led to a forecast that retail business will struggle in the coming quarter. Retailers in the S&P 500 dropped 1.5 percent in response to Macy’s weak third-quarter forecasts. In addition, many economists are predicting that the Federal Reserve will begin paring stimulus next month.
Gold: +1.07% to $1,334.60 per ounce Oil: +0.01% to $106.84 per barrel U.S. 10-Year: -0.11 to 2.712%