** Shares of U.S. retailers jump after Supreme Court rules against President Donald Trump's global tariffs
** The court upholds a lower court's decision that Trump's use of a 1977 law, meant for use in national emergencies, exceeded his authority
** Ruling comes as a relief to businesses, which took a major hit owing to tariff-related costs
** Shares of sportswear giant Nike NKE.N up about 1%, while Deckers Outdoor and German sandal maker Birkenstock's U.S-listed shares rise about 2%
** Under Armour UAA.N up ~3%, while Crocs shares jump 4%
** Shares of big-box retailer Target TGT.N rise 2%
** Shares of furniture companies such as RH RH.N up 10%, while Wayfair W.N shares up ~8%
** Home Depot HD.N shares rise about 1%, Lowe's LOW.N up ~2%, Williams-Sonoma WSM.N up ~5%
** Victoria's Secret shares rise 2%
** Luxury brands like Ralph Lauren RL.N, Capri Holdings CPRI.N and Tapestry TPR.N also up 2%
(Reporting by Anuja Bharat Mistry in Bengaluru)
((AnujaBharat.Mistry@thomsonreuters.com))
Comments