Financial, market and economic news

Mid-Morning Market Update: Markets Mixed; Macy’s Posts Narrower-Than-Expected Loss

Following the market opening Thursday, the Dow traded down 0.21% to 29,375.58 while the NASDAQ rose 0.21% to 11,826.72. The S&P also fell, dropping 0.18% to 3,561.54.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 11,529,810 cases with around 250,540 deaths. India confirmed a total of at least 8,958,480 confirmed cases and 131,570 deaths, while Brazil reported over 5,945,840 COVID-19 cases with 167,450 deaths. In total, there were at least 56,341,230 cases of COVID-19 worldwide with over 1,351,230 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares rose 0.4% on Thursday. Meanwhile, top gainers in the sector included Gevo, Inc. (NASDAQ: GEVO), up 14%, and Transocean Ltd. (NYSE: RIG), up 9%.

In trading on Thursday, utilities shares fell 1.2%.

Top Headline

Macy’s, Inc. (NYSE: M) reported better-than-expected results for its third quarter.

Macy’s posted quarterly loss of $0.19 per share, beating analysts’ estimates for a loss of $0.79 per share. The company …

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