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<header> [h=1]Stocks Close At Record Highs; Nordstrom, Nvidia Jump After Hours[/h]
</header> All three major averages closed at record highs Thursday as oil prices jumped and several retail and apparel stocks posted strong gains.
The Dow Jones industrial average rose 0.7%, as
Nike (
NKE) climbed 3%. The Nasdaq and the S&P 500 each added 0.5%.
Crude prices spiked 4% to the highest level since July 22 after Saudi Arabia, the world's top exporter, suggested it would trim output to ease a supply glut and bolster prices.
After the close,
Nordstrom (
JWN) soared 11% following its quarterly earnings report, capping a banner day for department store stocks.
The high-end retailer reported mixed results, beating Wall Street estimates on profit but falling short on revenue. However, the company's full-year outlook topped expectations. Nordstrom rose more than 7% during the regular session, approaching resistance at its 200-day moving average.
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Also after hours,
Nvidia (
NVDA) climbed 3% after the producer of graphics chips used in video-game consoles posted better-than-expected profit and sales for the latest quarter. It also issued a bullish outlook.
And
Planet Fitness (
PLNT) rose more than 2% in post-session trading following its Q2 results. The stock ended the regular session in buying range from a 19.72 buy point of a cup-with-handle base.
In the regular session,
Macy's (
M) soared 17% after profit for fiscal Q2 fell much less than expected and the company said it would close 100 stores to focus on its online business.
Kohl's (
KSS), another department-store operator, jumped 16% after a strong earnings report. Both Macy's and Kohl's jumped above their 200-day moving averages but remain well off their 52-week highs.
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Under Armour (
UA), Nike's rival in athletic apparel, rose nearly 5%.
J.C. Penney (
JCP) is among companies scheduled to report quarterly earnings on Friday. Economic reports due Friday include business inventories for June, the producer price index and retail sales for July, and the University of Michigan's consumer sentiment index for August.