After yesterday's outsized rally, the market is higher in early trading following some solid reports. In economic news, pending home sales rose +5.2% in July vs. expectations for no change. So that is a pretty solid report.

Also, same-store sales for the nation's retailers came in for the most part better than expected, and that is pushing the retail index (XRT) up +2.25% so far today, leading most ETFs. The homebuilding etf (XHB) is up +2.63% on the above-mentioned report.