The market had a pretty good Thursday afternoon going, with all three major indexes climbing as investors digested another round of economic data and some seriously impressive retail earnings.

The Dow Jones Industrial Average rose 0.38% to 46,312.60, while the NASDAQ added 0.40% to reach 22,655.24. The S&P 500 wasn't about to be left out, gaining 0.33% to 6,664.29.

Sector Movement: Staples Lead, Industrials Lag

Consumer staples were the star performers of the day, jumping 1.2% as investors showed renewed interest in defensive plays. On the flip side, industrials had a rougher session, sliding 0.4% to claim the day's biggest losses.

Walmart Delivers the Goods

Walmart Inc. (WMT) reminded everyone why it's a retail giant, posting third-quarter results that sailed past Wall Street's expectations.

The company reported adjusted earnings of 62 cents per share, topping analyst estimates of 60 cents. Revenue came in at $179.50 billion—a 5.8% year-over-year increase—beating the consensus forecast of $177.429 billion.

But here's where it gets interesting: Walmart isn't just celebrating a good quarter and calling it a day. The retailer raised its fiscal 2026 adjusted EPS outlook to a range of $2.58 to $2.63, up from the previous $2.52 to $2.62. That updated midpoint sits comfortably above the $2.61 analyst consensus. The company also boosted its fiscal 2026 constant-currency revenue growth outlook to 4.8% to 5.1%, up from the earlier range of 3.75% to 4.75%.

Big Movers on the Upside

Cerence Inc (CRNC) absolutely exploded higher, rocketing 38% to $10.89 after delivering better-than-expected fourth-quarter results. Goldman Sachs chimed in with a maintained Neutral rating while bumping its price target from $10 to $11.

PACS Group Inc (PACS) had an even better day, surging 52% to $25.64 following quarterly sales results that crushed expectations.

Magnera Corp (MAGN) joined the party with a 35% gain to $10.77 after releasing its fourth-quarter financial results.

The Day's Biggest Losers

Bath & Body Works Inc (BBWI) had a day to forget, plummeting 24% to $15.96 after disappointing third-quarter results and fiscal 2025 EPS guidance that fell short of analyst expectations.

Canadian Solar Inc (CSIQ) dropped 15% to $22.40 after Mizuho downgraded the stock from Outperform to Underperform, though the firm did raise its price target from $15 to $21.

Meihua International Medical Tech Co Ltd (MHUA) fell 27% to $0.17 following news of a 1-for-100 reverse stock split.

Commodities Take a Breather

In the commodities world, oil inched up 0.1% to $59.46, but precious metals weren't as fortunate. Gold slipped 0.4% to $4,067.30, while silver fell 0.7% to $50.495. Copper also declined, dropping 0.5% to $4.9945.

Global Markets

European markets closed in the green across the board. The eurozone's STOXX 600 gained 0.51%, Spain's IBEX 35 rose 0.76%, London's FTSE 100 added 0.40%, Germany's DAX 40 climbed 0.64%, and France's CAC 40 jumped 0.47%.

Asian markets ended Thursday mostly higher, with Japan's Nikkei 225 leading with a solid 2.65% gain. Hong Kong's Hang Seng barely budged with a 0.02% increase, while China's Shanghai Composite bucked the trend, falling 0.40%. India's BSE Sensex gained 0.52%.

Economic Data Dump

Thursday brought a flood of economic updates, including some delayed figures that finally saw the light of day.

September non-farm payrolls climbed by 119,000—beating market estimates of 50,000—according to the official labor report released after a six-week delay caused by the government shutdown. However, the unemployment rate ticked up from 4.3% to 4.4%, hitting its highest level since October 2021.

Initial jobless claims for the week ending November 15 fell by 8,000 to 220,000, suggesting the labor market remains relatively stable in the near term.

The Philadelphia Fed Manufacturing Index improved by 11 points to -1.7 in November, better than the -3.1 consensus estimate. Meanwhile, the Kansas City Fed's Manufacturing Production Index rose to 18 in November from 15 in October.

On the housing front, existing home sales increased 1.2% month-over-month to an annualized rate of 4.10 million in October, offering a glimmer of hope for the beleaguered real estate market.