Dow slides more than 150 points on concerns about earnings, Macy's tumbles - CNBC
CNBC - Thu 10 Jan 21:26 GMT

Dow slides more than 150 points on concerns about earnings, Macy's tumbles - CNBC

Stocks rose on Thursday, but gains were kept in check as disappointing holiday sales from Macy's and a revenue guidance cut from American Airlines pressured retail and airline shares.

  Stocks rose on Thursday, but gains were capped as disappointing holiday sales from Macy's and a revenue guidance cut from American Airlines pressured retail and airline shares.

  The S&P 500 climbed 0.4 percent to 2,596.64 — notching its first five-day winning streak since September — as the real estate and industrials sectors outperformed.

  Macy's shares tanked more than 18 percent — their worst day ever — after reporting its same-store sales grew by just 1.1 percent in November and December.

  The SPDR S&P Retail ETF (XRT) dropped more than 1.5 percent.

  Meanwhile, American Airlines fell more than 4 percent after slashing its revenue growth forecast for the fourth quarter.