A survey of North American equities heading in both directions On the rise Macy’s Inc. (M-N) crushed analysts’ estimates for quarterly profit as the department store operator’s margins benefited from better inventory management and lower freight costs, sending its shares soaring on Thursday. The company became the latest U.S. retailer to signal improved margins from efforts to bring down inventory from 2022 highs. On Wednesday, Target (TGT-N) disclosed a 14-per-cent reduction in inventories and forecast a strong holiday-quarter profit. “(We are) entering the holiday period in a healthy inventory position,” Macy’s outgoing CEO Jeff Gennette said in a statement. Merchandise…