Why Coty, Crocs, and Foot Locker Jumped 10% Tuesday

Shares of Crocs (NASDAQ: CROX), Coty (NYSE: COTY), and Foot Locker (NYSE: FL), an assortment of retailers, jumped 10% or higher Tuesday morning as the markets received positive news about consumer sentiment and COVID-19 vaccines. Retailers got a little spark of hope Tuesday when U.S. consumer confidence moved slightly higher in May, suggesting the worst of the economic impact could be behind us as more states open up parts of the economy and reduce restrictions. Consumer confidence moved to 86.6 in May, up from the downwardly revised 85.7 recorded in April.