Thursday’s business headlines

Business

INDIANAPOLIS (WISH) – Here’s a look at Thursday’s business headlines.

Macy’s

Macy’s earnings report indicate the retail environment is worse than we thought.

Macy’s blames a number of factors, including a fashion miss, for the earnings shortfall.

The retailer said its seen “massive bleeding of traffic and customers.”

Avenue closing

The plus-size retail chain, Avenue, is closing all of its stores.

It has 200 stores in 30 states.

There are five stores in Indiana, including one in Indianapolis at Clearwater Springs and another one in Speedway.

AT&T, T-Mobile spam

AT&T and T-Mobile announced calls across both networks would be verified, a step toward meeting the industry-wide shaken/stir standard.

Shaken/stir verifies the authenticity of a call and alerts you if it is suspected as a spoof or a scam. The call is verified at the network level and a symbol such as check mark will appear to let you know if the call is not spoofed.

With AT&T and T-Mobile, you will see “call verified” on your screen when you get a call.

Overnight markets

Wall Street was a bloodbath Wednesday with the Dow Jones Industrial Average suffering its worst day of the year.

The Dow lost 800 points.

Investors freaked out over a geeky signal that a recession may be on the horizon. The yield curve inversions have predicted all seven of the recessions that occurred over the last 50 years.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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