Stock Market Update

[BRIEFING.COM] The stock market has steadily improved this morning, with the S&P 500 (+0.2%) and Nasdaq Composite (+0.7%) charting new session highs, while the Nasdaq Composite (-0.4%) remains below its baseline as investors rotate out of tech names today. 

Dick's Sporting Goods (DKS 201.98, -4.34, -2.10%) is heading lower today after reporting its Q3 (Oct) results this morning. The company beat EPS expectations, while revenue increased 36.3% year-over-year to $4.17 billion. That was well above expectations but reflects a partial contribution from Foot Locker ($931 million). The company also raised FY26 guidance for its standalone business, now expecting EPS of $14.25-14.55, revenue of $13.95-14.00 billion, and comp sales growth of +3.5-4%.

Meanwhile, Best Buy (BBY 79.13, +3.51, +4.64%) is trading sharply higher after a clean 3Q26 beat-and-raise, with adjusted EPS and revenue both topping expectations and comps accelerating into the holiday season. The upside in revenue and comps was driven by robust performance in computing (seventh consecutive positive comp quarter) and continued momentum in gaming (including Nintendo Switch 2) and mobile phones, as well as growth in wearables and headphones.