Nasdaq reaches record high, Macy’s stirs retail fear

Traders work on the floor of the NYSE in New YorkU.S. stocks have wavered over the past three weeks following a strong surge in the wake of the November election, with investors expecting President-elect Donald Trump to stimulate the economy through tax cuts and infrastructure spending. "The market is pausing for a reason, it’s waiting for confirmation from Washington and the Trump agenda," said Jeff Zipper, managing director for investments at Private Client Reserve at U.S. Bank in Palm Beach, Florida. Department stores Macy's dropped 13.89 percent while Kohl's slumped 19.02 percent after the companies said their holiday sales fell more than expected.

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