Dow, S&P 500, Nasdaq surge as hopes for Trump tariff offers get a lift

Shares of Levi Strauss (LEVI) rallied over 10% in premarket buying and selling after the corporate reiterated its full-year outlook, which included no influence from tariffs. The denim maker additionally posted better-than-expected earnings and stated demand was robust in March.

However on a extra complicated word, Levi’s CFO Harmit Singh acknowledged this on tariffs: “On condition that the state of affairs is fluid and unprecedented, the impacts are unsure. We’re within the means of situation planning and figuring out totally different mitigation methods. We acknowledge this can be a shortly evolving macro state of affairs and we now have to see the place the mud settles to provide the steerage that’s going to be as useful to you as potential.”

As Yahoo Finance’s Brian Sozzi famous, the corporate depends on 130 services in China and 50 in Vietnam — two international locations Trump earmarked for giant tariffs — to provide its numerous attire choices.

Levi’s CEO Michelle Gass stated the corporate has assembled an inner “process drive” to find out the tariff influence and correct responses, similar to worth will increase, Sozzi wrote.

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