Why Estee Lauder Stock Was Pulling Back Today
Shares of Estee Lauder (NYSE: EL) were among the losers today even as the broad market soared in response to former President Trump's victory.
Estee Lauder has struggled badly in recent quarters amid weakness in China, and today's sell-off seems to come in response to another potential trade war between the U.S. and China. Trump also campaigned on tariffs, which could cut into profits for a global company like Estee Lauder.
As a result, the cosmetics stock was down 3.9% as of 2:33 p.m. ET. That compared to a 2.5% decline in iShares MSCI China ETF, showing investors turning away from China stocks.
Source Fool.com
MSCI Inc. A Stock
€493.00
0.490%
With 15 Buy predictions and not the single Sell prediction the community is currently very high on MSCI Inc. A.
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