Chinese stocks experienced significant declines on Friday as trade tensions between the US and China escalated.
The downturn was triggered by China’s move to impose retailiatory tariffs on the US.
Abercrombie & Fitch (NYSE:ANF) shares moved higher on Friday, with investors backing the retailer amid broader concerns about consumer spending and the tariff impacts.
The company recently announced a $1.3 billion share repurchase program and is trading at a relatively low valuation compared to historical levels and its peers, making it attractive to investors.
GameStop Corp (NYSE:GME) shares edged higher before Friday’s opening bell on the news that CEO Ryan Cohen has purchased additional shares of the video game retailer.
Cohen purchased 500,000 additional shares at $21.55 each for a total of $10.8 million, a regulatory filing showed.