The S&P 500 was having its best day in 8 months, the Dow Jones Industrial Average reached a new record high above 24,000 and the Russell 2000 consumer confidence index hit an all-time high. 

Here are some of the headlines that are driving market movements late Thursday afternoon. 

Sears Rally Collapses

Sears (SHLD) investors were having a great day until about noon when the security began giving back the massive gains it made earlier in the session. 

Sears soared nearly 30% premarket and was up more than 4% earlier in the day after its third-quarter earnings report showed that the company narrowed its losses from a year ago. 

However, a 13.5% store wide decline in comps -- including a decline of 13% at its Kmart stores -- had investors changing their mind. Sears was down more than 4% near the closing bell.

American Airlines Has Holiday Scheduling Conflict Nearly Resolved

American Airlines (AAL) - Get Report has come under fire in recent days after revealing that a scheduling snafu caused hundreds of scheduled flights during the holiday season to be short on crew and pilots.

The company came out Thursday to assuage travelers' fears saying that the scheduling problem, which was caused by a glitch in its system apparently, was nearly resolved. 

"Out of the 200,000 flights American will operate in December, only a few hundred are currently unassigned to pilots," American spokesperson  Matt Miller said Thursday. "That number of open flights continues to decrease thanks to our pilots who are stepping up to the plate and picking up trips to ensure customers are taken care of."

Kroger Wins Big on Surprise Earnings Beat 

What disruption? Grocer Kroger (KR) - Get Report was up more than 6% after the company reported a surprising earnings beat in the previous quarter.'s (AMZN) - Get Report purchase of Whole Foods was expected to disrupt the entire industry, but Kroger was able to stay on track in the quarter. 

The company reported earnings of $397 million, or 44 cents per share on revenue that rose to $27.75 billion from $25.56 billion. Analysts on average were expecting the company to report earnings of 40 cents per share on revenue of $27.48.

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