Today’s Market Movers: Ross Stores Crushes Earnings and Crypto Stocks Take Off

TLDR

• Ross Stores jumped up to 9% in premarket trading after beating Q2 earnings and raising full-year guidance
• Crypto stocks Coinbase, Robinhood, and Strategy all surged following Trump’s call for Congress to pass the Clarity Act
• Strategy swung to a $1.4B unrealized gain on its Bitcoin holdings as Bitcoin climbed to around $78,500
• Moderna recovered 4% after losing 24% Thursday, following its earlier triple-digit gains tied to a cancer vaccine trial
• OSI Systems, Aveanna Healthcare, and Flowers Foods all fell sharply after weak earnings or dilutive share offerings

Stock futures edged higher on Friday as markets tried to recover from a sharp selloff the day before. A pullback in U.S. Treasury yields helped ease pressure on investors, though caution remained with Brent crude near $93 a barrel.

Ross Stores was a standout in premarket trading, jumping between 8.5% and 9%. The off-price retailer reported Q2 sales of $6.3 billion, up 14% year over year. Comparable store sales rose 10%, and earnings per share came in at $2.66.

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