Wednesday morning stock market movers: Nordstrom, Gap, and the Dow Jones Industrial Average

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Wednesday morning stock market movers: Nordstrom, Gap, and the Dow Jones Industrial Average

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The stocks were mixed with the on Wednesday

Dow Jones industry average

It moved back below the 30,000 level it first closed on Tuesday.

Dow futures showed a loss of 72 points, or 0.2%, to 29,924.

S&P 500

The futures were down 0.1% while the tech heavy

Nasdaq Composite

The futures rose 0.2%.

Stocks saw a solid move up at the start of the week, with the S&P 500 up 2.2% through Wednesday morning.

Unemployment claims rose to 778,000 last week, a jump from the previous week’s revised 748,000 and well above expectations for 730,000. It was a terrible number, but the stock market barely reacted.

Big tech stocks rose

Amazon.com

(AMZN) increased by about 0.4%. Most of the other sectors were in decline. The oil stocks were in decline

Energy Select Sector SPDR ETF

(XLE) down 1%. Bank stocks fell too

Citigroup

(C) down 1.4%.

On Wednesday, investors await the Federal Reserve’s released minutes and will monitor the size of the Fed’s treasury buying programs, which will help keep interest rates low.

Nordstrom

(JWN) shares rose 4.8% after the company beat earnings per share estimates. Nordstrom reported earnings of 44 cents per share versus estimates of 34 cents. Revenue was $ 3.09 billion, just missing expectations for $ 3.1 billion.

gap

(GPS) shares fell 10% after the company earned 25 cents a share, missing forecasts for 32 cents on sales of $ 3.99 billion and beating estimates for $ 3.8 billion.

American Eagle Outfitter

(AEO) shares fell 3.6% after the company missed both upper and lower estimates. As expected, American Eagle reported a profit of 35 cents on sales of $ 103 billion, which was largely in line with expectations.

Hewlett Packard

(HPQ) rose 5% after reporting a 62 cents profit, beating projections for 52 cents on sales of $ 15.26 billion and beating expectations of $ 14.69 billion.

Modern

(MRNA) rose 1% after the company announced that the European Commission initially approved 80 million doses of its Covid-19 vaccine.

Write to Jacob Sonenshine at jacob.sonenshine@barrons.com