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“You never know what worse luck your bad luck has saved you from.” – Cormac McCarthy
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US equity futures are up 3% pre-market on news that the US and China would be pausing tariffs for 90 days after meetings between the two in Geneva over the weekend.
As shown below, SPY is set to open above its March highs and back in positive territory since Election Day last November.
Stocks most dependent on China for cheap imports are soaring this morning. Below is a look at the pre-market moves for stocks in some of the “tariff losers” baskets we’ve highlighted in the last five weeks. Wayfair (W) is up the most at 16.2%, followed by RH (+15.6%) and elf Beauty (+10.2%). Best Buy (BBY), Yeti (YETI) and SharkNinja (SN) are all up 8%+ as well.