Stock Market Update

[BRIEFING.COM] The S&P 500 (+1.0%), Nasdaq Composite (+1.7%), and DJIA (+0.4%) now trade in a steady range with solid gains as mega-cap and tech names continue to outperform. 

The Vanguard Mega Cap Growth ETF is up 1.8%, narrowing its week-to-date loss to 0.5%. 

Amazon (AMZN 221.01, -1.54, -0.69%) is a laggard among the mega-caps, but strength in Tesla (TSLA 409.90, +8.65, +2.16%) and gains across retailers following this morning's batch of earnings reports lift the consumer discretionary sector (+0.3%) to a modest gain. 

Lowe's (LOW 228.88, +9.31, +4.24%) is the sector's top mover after posting standout results and a relatively resilient outlook.  Despite macro headwinds, the company beat earnings expectations and maintained revenue growth, thanks to solid Pro business trends and the acquisition of Foundation Building Materials (FBM). Near-term results are hampered by consumer softness, but operational discipline, early positive Q4 comparable sales, and growth in appliances point to relative resilience.