US STOCKS-Wall St hits record highs as investors buy department stores

jueves 11 de agosto de 2016 16:32 GYT
 

* Macy's, Kohl's top percentage gainers on S&P 500 index

* Oil jumps 5.0 pct after Saudi minister comment, IEA forecast

* Indexes end up: Dow 0.64 pct, S&P 0.47 pct, Nasdaq 0.46 pct (Updates to close)

By Noel Randewich

Aug 11 (Reuters) - Wall Street stocks ended at record highs on Thursday as surging oil prices and strong earnings from department stores Macy's and Kohl's buoyed investor sentiment.

Crude oil jumped as much as 5.0 percent on comments from the Saudi oil minister about potential action to stabilize prices and the International Energy Agency's forecast that crude oil markets would rebalance in the next few months.

The S&P energy index rallied 1.3 percent, making it the top gainer among the 10 major sectors, led by a 1.26 percent rise in Chevron.

Macy's shares soared 17.09 percent, marking the best day for the department store operator in nearly eight years after it reported a smaller-than-expected drop in quarterly comparable-store sales and said it would close 100 stores.

Kohl's shares rose 16.17 percent after its quarterly profit beat estimates.   Continuación...