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All 3 major stock indexes set new record highs; oil prices surge

All 3 major stock indexes set new record highs; oil prices surge

Strong gains by energy companies and retailers helped nudge each of the major U.S. stock indexes to a record high close Thursday, erasing mild losses from the day before.

The Standard & Poor's 500 index and Nasdaq composite had previously hit new highs last Friday. The Nasdaq also notched a record close Tuesday.

Investors welcomed some better-than-expected quarterly results from Macy's and Kohl's, which spurred gains for several other big retail chains.

Energy stocks led the rally, getting a boost from a surge in oil prices. An industry report released Thursday projected a more even balance in the supply and demand for oil this year.

“It's been such an...

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