SPY is up 1.7% in a broadly risk-on session. XLY leads sectors at +3.6%, driven by homebuilders and travel names, with D.R. Horton, Lennar, Booking Holdings and Expedia all up more than 7%, while Tesla falls 3.8% after the Democratic midterm sweep also pressured SpaceX shares. XLP (+2.5%), XLRE (+1.9%) and XLF (+1.9%) advance broadly, though Unum Group stands out with a 17.1% drop in financials. XLK rises 1.5% despite wide dispersion, with First Solar and Enphase Energy up more than 11% against a 18.6% drop in Trimble. XLV gains 1.8% even as CVS Health falls 10.4%. XLI is the weakest sector at -1.2%, dragged by Quanta Services (-10.4%) and Vertiv (-9.0%). XLU (-0.9%) and XLE (-3.1%) round out the decliners as crude falls more than $2 a barrel.

Factor readings are mixed rather than a clean growth tilt: growth and value both advance, but momentum lags, with the momentum factor ETF roughly flat and mid-cap momentum down 1.7%.

Within mega-cap growth, Booking Holdings, Amazon, Microsoft and Apple all gain more than 5%, while Tesla, ExxonMobil (-3.4%) and RTX (-3.1%) lag.

Among other sector ETFs, homebuilders and retail stand out, with the homebuilders ETF up 6.4%, the retail ETF up 4.6%, medical devices up 5.4% and airlines up 4.2%.

Single-stock gainers are led by a sharp move in Block, while the biggest decliners are concentrated in a handful of outsized single-name drops.

• Block, Inc.: +13.5%
• 3M: +7.3%
• HCA Healthcare: +7.1%
• Builders FirstSource: +7.0%
• Dollar Tree: +6.9%
• nVent Electric: -9.8%
• Vistra Corp: -10.1%
• Datadog: -10.9%
• Comfort Systems USA: -15.1%
• Fidelity National Information Services: -22.6%

Metals ETFs are sharply higher as gold and silver rally on a weaker dollar and lower Treasury yields tied to the midterm election outcome, with junior gold miners up 6.7% and silver miners up 6.3%. Solar names also rally, with the solar ETF up 8.4%.

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