Why Lowe's, Kohl's, and Stanley Black & Decker Stocks All Popped This Morning
Tariffs drive the stock market under President Trump.
Monday dawned bright for investors after President Donald Trump announced over the weekend that the U.S. has struck a deal with China to dramatically -- if temporarily -- roll back some of the tidal wave of new tariffs that the two nations had imposed on each other over the past several weeks. The U.S. and China agreed to a 90-day pause on post-April 2 tariffs, which will reduce the tariff rate on imported Chinese goods to 30%, and on exported U.S. goods to 10%.
Major U.S. importers of China-made wares rejoiced, and shares of their stocks popped. As of 9:45 a.m. ET, hardware store chain Lowe's Companies is up 4.6%, tool-maker Stanley Black & Decker (NYSE: SWK) is up 14.6%, and department store chain Kohl's Corp. (NYSE: KSS) is a bit in between, up 12.4%.
Image source: Getty Images.
