The stock market lost ground on Friday, as a strong reading on the employment front sent bond prices reeling and had some investors second-guessing whether the Fed would be as accommodative as previously thought. Losses weren't that bad for the Dow Jones Industrial Average (DJINDICES: ^DJI), but the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) were both down more than 1%. Meanwhile, Clorox (NYSE: CLX) climbed sharply after releasing a favorable earnings report.
John C Coffee, Adolf A. Berle Professor of Law and Director of the Center on Corporate Governance at Columbia Law School, joins Yahoo Finance Live to examine the impact of Ryan Cohen's stake taken in Nordstrom and the greater activist investor environment in early 2023.
Nordstrom stock jumps as activist investor Ryan Cohen builds a stake in the company.