PVH Corp. (NYSE: NYSE:PVH) shares are trading higher by 8.43% to $62.00 during Tuesday's trading session amid overall market strength.
Shares of several companies in the retail & apparel space are trading higher as stocks gain ahead of the earnings season. The sector has experienced volatility amid Fed policy tightening measures which may lead to a slowdown in economic growth and consumer spending.
What Happened?
Market indexes are higher Tuesday on continued momentum amid the start of the earnings season. Better-than-expected second-quarter earnings from Goldman Sachs (NYSE:GS) on Monday, helped lift market sentiment despite broader economic concerns.
Markets also continue to assess inflation concerns and Fed policy outlook. Heightened U.S. inflation has raised concerns of aggressive Fed policy tightening, which would pressure economic growth.
Why it Matters
Worse-than-expected June CPI data reported last week has caused recession concerns and concerns of more aggressive Fed policy, which could impact consumer spending. The Consumer Price Index rose 9.1% for the month of June, above estimates of 8.8%.
According to data from Benzinga Pro, PVH Corp. has a 52-week high of $125.42 and a 52-week low of $54.57.
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