Business Update: Macy's to cut 7,000
Feb 2. - American department store operator Macy's announced plans to cut 7,000 jobs as part of broader cost-cutting measures ahead of a tough outlook for shoppkeepers.
The Dow shed 64 points to 7,936. The S&P 500 dipped 0.44 points to 825. But the Nasdaq rallied 18 points to 1494. Oil prices fell $1.60 to $40.08 a barrel.
Conway Gittens reports from New York.
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