Macy's Closing Stores, Bitcoin at 2-Year High, Retail Earnings Show Ongoing Consumer Pressures
• Macy's closing 150 more stores in effort to boost profits; seen as long-term positive for Walmart, Target, TJX
• Bitcoin price hits 2-year high above $57K
• Retail earnings reports show continued consumer pressure Macy's sales down, Lowe's profit outlook weak
• Whirlpool guiding flat North American sales growth this year amid ongoing housing market weakness
• Fed rate path critical for housing-related stocks; expectations for rate cuts pushed back amid inflation