Why China-Exposed Stocks Alibaba, Estee Lauder, and Nike Rallied Today
Shares of Chinese stocks such as Alibaba (NYSE: BABA) and China-exposed stocks Estee Lauder (NYSE: EL) and Nike (NYSE: NKE) rallied on Monday, up 6.2%, 5.2%, and 2.9%, respectively, as of 2:20 p.m. ET.Alibaba has been clawing its way back from a multiyear downturn, and both Estee Lauder and Nike had especially bad weeks last week.Yet in a counterintuitive move, China-exposed stocks rallied today after President Donald Trump announced 25% tariffs on imported steel and aluminum over the weekend. Here's why. Continue reading
Shares of Chinese stocks such as Alibaba (NYSE: BABA) and China-exposed stocks Estee Lauder (NYSE: EL) and Nike (NYSE: NKE) rallied on Monday, up 6.2%, 5.2%, and 2.9%, respectively, as of 2:20 p.m. ET.
Alibaba has been clawing its way back from a multiyear downturn, and both Estee Lauder and Nike had especially bad weeks last week.
Yet in a counterintuitive move, China-exposed stocks rallied today after President Donald Trump announced 25% tariffs on imported steel and aluminum over the weekend. Here's why.
