Why Retail Stocks Are Rocking on Tuesday
Shares of some of America's most popular retail chains got a shot in the arm this morning (the good kind, not the one that makes your kids cry). President Donald Trump's U.S. trade representative announced new caveats today, applying to the latest round of 10% tariffs that may (or may not) be applied to Chinese imports to the U.S. come September.
There's word of a potential delay (to Dec. 15) on the imposition of tariffs -- on cellphones, laptop computers, toys, clothing, and other items -- combined with the removal of other items from the tariff list, and the announcement of a process for excluding even more items. These factors helped lift shares of retailers such as Bed Bath & Beyond (NASDAQ: BBBY), Best Buy (NYSE: BBY), Dollar Tree (NASDAQ: DLTR), Michaels (NASDAQ: MIK), and Target (NYSE: TGT) by anywhere from 5% to over 10% in early trading Tuesday.
Image source: Getty Images.
Source Fool.com
