Decline in Oil, Rise in Retail Stocks

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Author: 123jump.com Staff
123jump.com
Last Update: 2:45 PM EDT May 12 2008

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U.S. stocks rallied to the high of the day after a steady drop in crude oil prices. Crude oil traded below $125 a barrel. Ann Taylor lifted its earnings outlook for the first quarter. The revised guidance lifted retail sector stocks. Nordstrom, JC Penney and Macy''s gained. Collective Brands, operator of Payless ShoeSource increased after jury awarded $305 million in a trial against Adidas.

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