Macy's & J.C. Penney Lower Despite Stocks Shaking Off ISM Data

Stocks regained their footing in midday trading Monday after dropping on weaker-than-expected manufacturing data.
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Stocks regained their footing in midday trading Monday after dropping on weaker-than-expected manufacturing data. Earlier, the Dow Jones Industrial fell more than 120 points on the ISM index showing manufacturing slowed more than expected in January. Retailers are weaker in the session. Both J.C. Penney (JCP) and Macy's (MC) are down more than 1%, despite two very different starts on new coverage on Wall Street. Evercore is starting its coverage of J.C. Penney with a SELL rating and Macy's with a BUY. Standard & Poor's Ratings Services downgrading its credit rating on Netflix (NFLX) isn't phasing shareholders. The stock is still in the green even after getting lowered further into junk status.