Macy's Inc. Slightly Higher Despite Market Rout

Macy's Inc.

shares are trading higher by $0.11 at $35.09 in Monday's session. After peaking at $73.61 in July, the issue was over cut-in-half when it bottomed at $34.05 in December. Year-end tax loss selling prevented the issue from mounting a meaningful rally at year-end. After lower open, it found support ahead of its three and half year low at $34.33 and began to move higher. The ensuing rally has taken the issue within $0,11 of Thursday's high ($35.55), to $35.44 before falling back to the $35 area.