12/23/2023 0 Comments Rdr online economy![]() ![]() Macy’s jumped 5.7% after delivering a surprising profit for the latest quarter. The nation’s largest retailer’s forecast for upcoming holiday profit was weaker than analysts had expected. Walmart weighed on the market with an 8.1% drop after it warned that shoppers began pulling back on spending late last month. “If anything, data on Thursday further highlighted the economic risks as a trade-off to tight monetary policies,” Yeap Jun Rong of IG said in a market report. The Dow Jones Industrial Average slipped 0.1% to 34,945.47, and the Nasdaq composite gained 0.1% to 14,113.67. It remains comfortably on track for a third straight winning week. Slightly more workers applied for unemployment benefits last week, and while the number is low relative to history, a softening in the job market could prevent strong raises in wages that the Fed fears could help keep inflation high. ![]() Several reports on Thursday indicated the U.S. Wall Street’s stocks drifted to a mixed finish Thursday as market momentum slowed following the sizzling rally of the first half of November. ![]()
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