While you were sleeping Wall Street, Macy's slide

Wed, 14 Aug 2013

By Margreet Dietz Aug 15 (BusinessDesk) - Wall Street fell amid disappointing earnings from Macy's and as investors anticipate the US Federal Reserve will start reducing its bond-buying program as early as next month. Shares of Macy's fell, last down 3.7 percent, after the company downgraded its earnings forecast for this year and reported a surprise drop in sales. A slew of recent speeches by Fed officials have left investors betting that the central bank will ease the pace of its bond purchase sooner, rather than later. The speeches also...

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