Retail Stocks Soar After U.S.-China Trade News

Shares of several retail stocks soared Tuesday, August 13, with the news that the U.S. would delay tariffs on imports from China, CNBC reports. Consumer stocks, along with the entire U.S. market, also jumped Tuesday following the news.

The U.S. Trade Representative said the previously announced tariffs are delayed until Dec. 15. The tariffs would affect clothing, footwear and other retail items.

Guess (Los Angeles), Macy’s (Cincinnati), Abercrombie (New York), Nordstrom (Seattle), American Eagle (Pittsburgh) and Chico’s (Fort Myers, Fla.) are among the companies that saw stocks rise.