Stock Market News: Macy's Still Struggles; Mastercard to Lose Its Leader
Tuesday morning saw the stock market try to rebound briefly from Monday's 1,000-point plunge in the Dow Jones Industrials (DJINDICES:^DJI), but the bounce proved short-lived. Market participants apparently want to see how the latest outbreaks in different areas of the world develop before they draw any conclusions about the likelihood of containment. As of 11 a.m. EST, the Dow was down 256 points to 27,705. The S&P 500 (SNPINDEX:^GSPC) fell 15 points to 3,211, and the Nasdaq Composite (NASDAQINDEX:^IXIC) was off 86 points to 9,135.
Earnings continued to come out Tuesday, and investors weren't satisfied with the news from retailer Macy's (NYSE: M) despite what seemed to be solid numbers from its holiday season. For Mastercard (NYSE: MA), the unexpected news of a key corporate departure had some shareholders feeling less confident about the future.
Shares of Macy's fell 3% following the department store retailer's release of fourth-quarter financial results. The numbers were somewhat better than many of those following the stock had anticipated, but shareholders still seemed to want more reassurance from the ailing retailer.
Source Fool.com
