Why Designer Brands Stock Jumped Today

Shares of Designer Brands (NYSE: DBI) gained today though there was no direct news out on the footwear chain formerly known as DSW. Rather, the stock seemed to benefit from the broad-market gains that sent the S&P 500 up 4.2%.

Designer Brands closed the session with gains of 11.8%.

What sent the market rallying today was Vice President Joe Biden's strong performance in the Super Tuesday Democratic electoral contests last night, which cooled off fears among some investors that Bernie Sanders would be the next president, and that Congress approved an $8 billion package to help fight the spread of the coronavirus. 

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Source Fool.com