5 Stocks That Went Up Since the Tariff Announcements
Written by
Dawn Allcot
Edited by
Laura Bogart
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When President Donald Trump introduced widespread reciprocal tariffs of at least 10% across the world, with tariffs as high as 32% on Taiwan, 34% on China and 46% on Vietnam, stocks dropped significantly for many U.S. companies.
The S&P 500 lost 6%, the Dow Jones Industrial Average fell roughly 5.5% and Nasdaq dropped 5.8%, according to NBC News. MarketWatch called the drops on Thursday, Apr. 3 and Friday, Apr. 4, “the largest two-day wipeout of shareholder value on record.”
It might be time to double-down or dollar-cost-average, but only if you’re investing for the long haul. As personal finance expert Suze Orman stated in a Facebook post on Friday, “[M]oney you have in the market should have been money you did not need for at least five years. Let this play out.”
Keep in mind, even as the Nasdaq composite has entered a bear market and other major indices may follow, some stocks rose last week. Here’s a short list of top stocks still rising.
Also find out what investors need to know in the wake of Trump’s “Liberation Day” tariffs.
Johnson & Johnson
Pharmaceutical company Johnson & Johnson dodged the dip Thursday, with shares rising 2.7%, according to Reuters. However, the stock dropped more than 4% on Friday. Pharmaceutical manufacturers should be largely immune, for now, to the effects of tariffs, per Reuters.
Lululemon Athletica Inc.
After plunging Friday morning, athleisure company Lululemon started climbing again to close at $264 on Friday. The stock started rising following Trump’s announcement of promising tariff discussions with Vietnam, where Lululemon manufactures much of its clothing, according to GuruFocus.com. Experts are forecasting a high price target of $500. When the market opened Monday, it was down to nearly $257.
Nike
Similarly, after dipping to under $53 between Thursday and Friday, Nike also started to climb, closing at just under $58 Friday. Like Lululemon, Nike manufactures 44% of its sportswear, which includes top-selling sneaker lines, in Vietman. The potential for a favorable tariff agreement could have been one aspect causing the stock to start creeping back up. The shoemaker’s stock opened to under $54 Monday morning.
DR Horton Inc.
After dripping on Apr. 3, DR Horton Inc. began to climb past its previous five-day high and ended Friday at $127. The Arlington, Texas-based home construction company could benefit from tariff exceptions for Canada and Mexico.
The National Association of Homebuilders released a statement, calling the exemptions “a major win” for NAHB. Roughly 85% of U.S. softwood lumber imports come from Canada, totaling about 25% of lumber in the U.S.
DR Horton’s stock is just over $122 as of Monday morning.
Lennar Corp
Similarly, Lennar Corporation, a Florida-based builder, began to bounce back Friday, up by 2.43% after falling on Apr. 3. Trading at $111, the stock is still hovering near its 42-week low. Lennar’s strategy of favoring volume over margins, making it possible for buyers in markets like Florida and Texas to be able to afford homes, could help the homebuilder weather any potential impact from tariffs.
“We’ve been in discussions regarding the potential impacts of tariffs with our supply chain,” Lennar co-CEO Jon Jaffe told investors in March, as reported by Fast Company.
Final Take
As the market remains turbulent, Friday’s stock market winners could fall by Monday’s closing bell. Looking at overall market trends, it may be a good time to heed Warren Buffett’s advice and “be fearful when others are greedy and greedy when others are fearful.”
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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