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Why Macy's and Other Retail Stocks Are Trading Higher Today

John Rosevear, The Motley Fool
·2-min read
Why Macy's and Other Retail Stocks Are Trading Higher Today

Shares of consumer-discretionary retail operators were trading higher on Friday on growing investor optimism after new data indicated that the unemployment rate in May was better than expected. The U.S. Bureau of Labor Statistics reported on Friday morning that total non-farm employment rose by 2.5 million jobs in May, driving the unemployment rate down to 13.3% from 14.7% in April. Macy's has reopened many of its stores, but some may close again -- for good -- later this year.

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