Company Performance: Strong financial results, like increased revenue or profit, typically boost stock price, while poor performance can lower it.

Industry Trends: The overall health and growth prospects of the retail sector, especially department stores, influence investor sentiment towards Macy's.

Economic Conditions: Factors like consumer spending, inflation, and interest rates all affect retail sales and Macy's profitability, impacting its stock price.

Market Sentiment: General optimism or pessimism in the stock market can influence trading activity and investor confidence in Macy's shares.

Competition: The success or failure of competitors like Nordstrom or Kohl's affects Macy's market share and, consequently, its stock price.

Management Decisions: Strategic choices made by Macy's leadership, such as store closures, acquisitions, or marketing campaigns, can significantly move the stock.

Analyst Ratings: Recommendations from financial analysts can sway investor opinion and create buying or selling pressure on Macy's stock.