Nordstrom Inc (JWN) shares are trading higher by 5.51% to $20.40 amid overall market strength and ahead of Wednesday's June inflation data report. The inflation data can impact consumer spending, which in turn can influence the performance of retail stocks like Nordstrom. High inflation can erode consumers' purchasing power, leading to reduced discretionary spending on items like fashion and luxury goods, potentially impacting Nordstrom's sales and profitability.