Why Nordstrom, Inc. Stock Rose Today

Nordstrom, Inc. (NYSE: JWN) shares were riding higher today in tandem with Macy's (NYSE: M), whose stock jumped after the company posted better-than-expected earnings. The market seems to be taking Macy's report as a good omen for Nordstrom, which reports earnings after the market closes today.

As of 2:57 p.m. EST, Nordstrom stock was up 5.5%, while Macy's shares were flying, up 11.1%.

Image source: Nordstrom.

Source: Fool.com