Shares of Macy's (NYSE: M) moved higher today in an apparent response to a thaw in trade tensions with China as the U.S. and China have taken a step toward rolling back tariffs on each other, as part of an agreement that's being referred to as "phase one" of the negotiations.
There was no company-specific news out on Macy's, but that development was enough to push up shares of the broader retail sector, as the SPDR S&P Retail ETF rose 1.2% and Macy's closed up 5.4%.
Image source: Macy's.
Source Fool.com