Stock Market Update

[BRIEFING.COM] The major averages continue to trade in a steady range near session highs. 

Ross Stores (ROST 211.50, +13.86, +7.01%) is sharply higher and reaching new all-time highs after reporting strong Q4 results in its important holiday quarter last night. The off-price retailer comfortably beat EPS expectations, while revenue growth accelerated, increasing 12.2% to $6.64 billion, well above expectations. ROST also issued an upbeat initial FY27 outlook, guiding EPS to $7.02-$7.36, in line with expectations, revenue growth of 5-7% (roughly $23.89-24.34 bln), above expectations, and comp sales growth of +3-4% on top of +5% in FY26, reinforcing continued strength in off-price.

The stock tops the leaderboard in the consumer discretionary sector (+2.0%), which is currently the best-performing S&P 500 sector.

Elsewhere, Coinbase Global (COIN 208.65, +26.29, +14.42%) is the top performer in the broader S&P 500, rising as Bitcoin gains traction today, currently trading up over 7% and reclaiming the $73,000 mark