Why These 10 Stocks Soared by Double Digits Today

5. Wayfair Inc. (NYSE:W)

Wayfair saw its share price surge by 20.65 percent on Monday to end at $39.56 each as investor sentiment was fueled by the positive impact of the 90-day tariff truce between the US and China on the company.

It can be learned that the US and China over the weekend reached a 90-day deal to reduce levies on each other’s goods. US taxes on Chinese imports will drop to 30 percent from 145 percent previously, while China’s tariffs on US imports will drop to 10 percent from 125 percent previously.

The truce spelled good news for the company, which sources a significant chunk of its products from China.

Late last year, analysts pointed to Wayfair Inc. (NYSE:W) as one of the firms that would significantly bear the brunt of higher tariffs between the two countries, saying that any further escalation would largely dent its profits and margins.

In recent news, Wayfair Inc. (NYSE:W) narrowed its net loss by 54 percent to $113 million in the first quarter of the year from $248 million in the same period last year, despite revenues ending flat at $2.73 billion.