Shares of retailers jumped Tuesday after the US Trade Representative announced it is delaying proposed tariffs on clothing, footwear and a number of other items until December 15. Stocks including Guess, Abercrombie, American Eagle and Chico’s were all up 5% or more following the news. After Tuesday’s market close, the stocks were up around 3% or more.
Department store stocks such as Macy’s and Nordstrom also rose more than 3% after the news. Nordstrom rose just under 2% for the day, while Macy’s eked just half a percent. Ahead of the announcement, both Macy’s and Nordstrom had both hit 52-week lows in trading. Shares of big-box retailers Target and Walmart rose 5% and 2%, respectively, but both closed at 2% up. The S&P Retail ETF was up more than 3% but cooled down to an improvement of 1.5%. President Donald… CNBC