Macy's Rises 2.26% as Market Dips

Macy's (M) stock closed up +2.26% at $21.71, achieving a significant gain despite the absence of company-specific news and a broad market sell-off driven by weak economic data.

• Macy's outperformed the market, which saw the S&P 500 drop -0.51% and the Nasdaq fall -1.51%.
• The rise occurred amid weak economic signals, notably ADP jobs data showing only 22,000 jobs added, significantly below the 45,000 expected.
• The company appears undervalued, trading at a Forward P/E of 9.48 compared to the industry average of 13.77, ahead of expected earnings of $1.55 EPS and $7.52B revenue.