Stock Market Update

[BRIEFING.COM] The S&P 500 (+1.3%), Nasdaq Composite (+1.1%), and DJIA (+1.4%) continue to chart session highs, as all eleven S&P 500 sectors now trade in positive territory. 

Ross Stores (ROST 172.72, +12.22, +7.61%) is the top gain-getter in the S&P 500, reaching a new all-time high after reporting its Q3 (Oct) results last night. It comfortably beat EPS expectations, its largest beat in seven quarters, while revenue also came in above expectations, rising 10.4% to $5.6 billion, its strongest growth in seven quarters. Additionally, after providing Q4 guidance in the previous quarter, it raised its EPS outlook to $1.77-1.85 ($1.74-1.81 prior), comparable sales to +3-4% from +2-3%, and expects sales growth of 6-8%, in line with expectations. 

Though not an S&P 500 component, Gap (GAP 25.23, +2.17, +9.41%) also posted a strong earnings report, contributing to strength across retailer names today. 

Elsewhere in the consumer discretionary sector (+1.8%), homebuilders such as Lennar (LEN 123.34, +7.08, +6.09%) and D.R. Horton (DHI 147.57, +10.25, +7.46%) are trading nicely higher. 

The iShares U.S. Home Construction ETF is up 5.7% today, moving it into positive territory for the week.