New York, February 3, 2026, 08:47 EST — Premarket
- Macy’s shares showed little movement in premarket, following a strong gain the day before
- The stock surged roughly 5.8% Monday, boosted by a rebound in U.S. equities after better-than-expected factory data
- Investors are eyeing Macy’s upcoming earnings in early March for fresh details on demand and margin trends
Shares of Macy’s showed little movement in early Tuesday trading, following a strong rally the day before amid a wider U.S. stock market rebound.
The stock surged 5.84% Monday, closing at $21.19.
This shift is crucial as markets pin their hopes on upcoming U.S. data and earnings to determine if the recent risk-on mood can hold or if volatility will creep back in, like last week’s turmoil. “The latest AI headlines and this morning’s economic data point to robust growth,” said Carol Schleif, chief market strategist at BMO Private Wealth in Minneapolis. Reuters
Monday saw a boost from one key figure: the Institute for Supply Management’s manufacturing PMI climbed to 52.6 in January, up from 47.9 in December, marking a move back into expansion territory after months of decline. Still, Mark Streiber, an economic analyst at FHN Financial, cautioned that smaller companies remain cautious amid ongoing tariff threats. Meanwhile, ISM’s Susan Spence noted that some purchasing seemed driven by efforts to beat anticipated price hikes linked to tariffs.
Retail stocks tracked the broader market on Monday. Target jumped 3.85%, Walmart added 4.13%, and Kohl’s climbed 2.86%, MarketWatch reported.
Macy’s saw around 8.0 million shares change hands on Monday, matching its typical daily volume.
The company is deep into a multi-year turnaround involving store closures and cost reductions. Macy’s revealed plans in 2024 to close roughly 150 stores by 2026.
Investors are now eyeing earnings as the next major milestone. Macy’s hasn’t officially confirmed its report date, though Nasdaq data suggest it will fall near March 5.
Bulls face the risk that Monday’s rally was driven more by positioning than solid fundamentals. Department stores can see margins squeezed quickly by tariffs, promotions, and patchy discretionary demand. If upcoming data disappoints, sentiment could shift sharply.
Traders are entering the regular session focused on whether Monday’s retail-driven rally can sustain itself. Beyond that, all eyes turn to Macy’s upcoming update on sales trends and profit forecasts ahead of its early-March earnings report.
