Current leading stock traders: Ross Stores, Gap, Intuit, Oracle and more

Major US stock indices won on Friday afternoon as Comments from a Federal Reserve official boosted confidence in the likelihood of a rate cut in December. The Dow climbed 1.4%, the S&P 500 rose 1.2% and the Nasdaq gained 1.1%.

Ross Stores (RUST) was the best-performing stock in the S&P 500 after the off-price retailer beat earnings and revenue estimates and raised its outlook Bargain hunters flocked to the shops. Its shares rose 7%, putting them on track to close at a record high.

Gap shares (GAP) rose 8% after also joining Gap, Banana Republic, Old Navy and Athleta achieved better than expected results and raised its forecast due to strong demand at its namesake stores.

Intuitive (INTU) shares rose 6% after the accounting software maker reported strong quarterly results as it benefited from demand for its artificial intelligence tools.

Ongoing concerns about the valuations of AI-related companies pressured some tech stocks….