Nike, Wayfair, and Other Retail Stocks Rally on Possible Vietnam Tariff Deal
Shares of apparel and footwear makers were rallying Friday after President Donald Trump said Vietnam wanted to cut tariffs on the U.S., a move investors hope will lead to lower import tariffs for Vietnamese products. The SPDR S&P Retail ETF was ticking up 0.2% Friday. Nike stock was up 4.5%, Lululemon Athletica rose 2.2%, Gap was up 5.9%, Williams-Sonoma added 3.6%, Wayfair was up 1.8%, and Abercrombie & Fitch rose 6%.