LB - Why Macy's and Other Retail Stocks Closed Higher Today
Investors were in a buying mood on Wednesday, as state and local authorities continued to ease coronavirus-related restrictions and after a May jobs number came in better than analysts had expected.
The developments add to a growing sense that the U.S. economy is rebounding, and many hard-hit consumer discretionary retail stocks had a good day on Wednesday.
All of these companies' stocks have had wild rides over the last couple of months. Nearly all of their stores were closed in March, amid social-distancing measures intended to slow the spread of the SARS-CoV-2 virus.