A massive rally in crude oil and better-than-expected quarterly performance out from the retail space helped to drive stocks to new highs. The S&P 500, Nasdaq and Dow Jones Industrial Average closed at new records. Fellow retailers also joined in on the rally. Target (TGT) , TJX Companies (TJX) , Dillard's (DDS) , Nordstrom (JWN) , J.C. Penney (JCP) , and Sears (SHLD) were all higher. Nordstrom will report after the bell. Microsoft (MSFT) rose after announcing a deal to purchase game-streaming service Beam for an undisclosed amount. Beam's live-streaming software will be incorporated into Microsoft's Xbox. The Seattle-based startup was launched earlier this year. Nomura raised its full-year earnings guidance for Cisco Systems (CSCO) ahead of its earnings report out next week. The firm said Cisco is moving toward a steady, recurring revenue model, helped along by growth in software.
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