Major indices reversed course from the morning lows, but are struggling to hold onto gains.

The stock of the day is Five Below (FIVE). The stock is surging after management discussed they are making efforts to navigate the impact of tariffs in its latest quarterly report. What was interesting is the earnings call, with the first question about comparable store sales, the second about customer acquisition, and the third one about tariffs. To this, management noted the firm is sourcing away from China and making additional moves to hold prices down.

Management also highlighted they saw an increase in transactions and new customers, as well as existing customers returning to the store. The firm noted the guidance they issued was on the conservative side.

Magnificent Seven names are overall heading higher, with Tesla (TSLA) being the only exception after further developments in Elon’s dispute with Trump over the reconciliation bill.

Eight sectors are moving higher, with Technology (XLK) in the lead. Meanwhile, Consumer Staples (XLP) lags the pack.