Mattel, Hasbro rise as US, China ease tariffs

Shares of toymakers rise after U.S. and China agree to ease some tariffs

Barbie-maker Mattel MAT.O up 9.5% at $18.88; Play-Doh maker Hasbro HAS.O up 7% at $65.82

Trump administration's decision to step back from extreme 145% tariffs is welcome break for Hasbro, Mattel and broader toy industry, which remains deeply tied to Chinese manufacturing, says Zak Stambor, senior analyst at EMarketer

It gives toy companies additional time to pivot production optimally and potentially forward position inventory ahead of back-to-school and holiday seasons, says Jamie Katz, analyst at Morningstar

"Retailers may get a short-term reprieve heading into the holidays, but the long-term outlook is anything but settled," Stambor adds

As of last close, MAT down 3% and HAS up 10% YTD