US retailers rise after US, China agree to ease some tariffs, 90-day pause

Shares of retailers surge in premarket trading after U.S. and China agree to ease some tariffs

U.S. Treasury Secretary Scott Bessent, after talks with Chinese officials in Geneva, told reporters that Washington and Beijing reached a deal for a 90-day pause on measures that reciprocal tariffs would come down by 115%

Shares of sportswear firms such as Nike NKE.N, Lululemon LULU.N, and Under Armour UAA.N, which export goods to China, rise about 6% premarket

Sportswear retailer Foot Locker FL.N jumps 7%

Newer brands such as Roger Federer-backed On Holding ONON.N up 5%, while Deckers Outdoor DECK.N shares jump ~6%

Shares of apparel makers such as Abercrombie & Fitch ANF.N up ~5% and American Eagle Outfitters AEO.N rise 5.8%

Retail giant Walmart WMT.N up about 3%, while Target TGT.N soars ~4%

Shares of beauty companies including Elf Beauty ELF.N surge ~10%, while Ulta Beauty ULTA.O and Coty COTY.N up ~2%

Luxury firms such as Tapestry TPR.N up about 5%, while Estee Lauder EL.N and Capri Holdings CPRI.N up ~4%