Retailers and other consumer companies rose after strong earnings reports from discounters offset concerns about rising interest rates.

Ross Stores shares soared after the discounter's third-quarter earnings topped Wall Street estimates, prompting a boost to its full-year forecast.

Foot Locker shares rose after the sportswear store raised its growth projection outlook for the year.

On Thursday, Ross rival TJX posted brisk same-store sales growth. Boston Federal Reserve President Susan Collins indicated the central bank could raise rates by as much as 75 basis points again in December.

Investors in cyclical sectors are keen to preempt the Fed's next move, said one strategist.

"There are expectations that the next personal consumption expenditure report will deliver more proof that inflation is edging lower at a faster clip," said Quincy Krosby, chief global strategist at brokerage LPL Financial.

U.S. used-home sales fell for a ninth straight month in October, reflecting continued pressure from rising mortgage rates.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

11-18-22 1715ET