Why RH Stock Rocketed Higher Today
Shares of luxury home furnishings retailer RH (NYSE: RH) spiked today after the Trump administration said that it's working out a trade deal with China. The two countries have been locked in a trade war, and investors have been worried that retailers like RH will suffer if the economy slows down and consumers pull back on their spending.
With both countries cutting their tariffs as they work out a permanent deal, some retail stocks are on the rise today, with RH skyrocketing 17.9% as of 12:04 p.m. ET.
Image source: Getty Images.
Source Fool.com
