Why Kohl's, Deckers, and Five Below Stocks All Popped This Morning
Kohl's leads retailers higher today, but beware: The rally won't last.
Thursday dawned bright for investors after a three-judge panel of the U.S. Court of International Trade ordered President Donald Trump to lift his April 2 "reciprocal tariffs," as well has his 25% tariffs on Canada and Mexico, and a 10% tariff on China (the last three imposed in response to the fentanyl crisis).
The president was given 10 days to amend his executive orders, which brought the tariffs into existence, in line with the court's order. The Trump administration has already appealed the court's ruling to the U.S. Court of Appeals for the Federal Circuit, however, and for the time being at least it's really not certain which way the tariffs winds will end up blowing.
Regardless, investors in consumer goods companies believed to be especially affected by the pricing of imports are reacting positively to the legal news. Deckers Outdoor (NYSE: DECK) stock, for example, which imports most of its shoes from Southeast Asia, is up a modest 1.9% as of 10:15 a.m. ET. Discount retailer Five Below (NASDAQ: FIVE), which imports "a significant majority" of its merchandise from abroad, is enjoying a 2.6% bump.
