Why Gap Inc Stock Was Climbing Today
Shares of Gap Inc (NYSE: GPS) were gaining today along with much of the retail sector after President Trump announced this morning on Twitter that China and the U.S. were getting "very close to a big deal." This afternoon, news broke that the two sides had reached a deal on "phase one."
The news sent retail stocks up broadly as the sector has been sensitive to trade negotiations due to the effect of tariffs on the industry. As a result of Trump's announcement, the SPDR S&P Retail ETF was up 2.1% as of 3:23 p.m. EST, while Gap was trading up 5.7%.
Image source: Getty Images.
Source Fool.com
