NEW YORK ( TheStreet) -- Retailers are rallying as the Senate made moves to extend unemployment benefits, which could provide some confidence to the dwindling consumer. The S&P Retail Index is rising 1.9% to 399.46, led up by safety stock Wal-Mart ( WMT). Elsewhere in the discount sector BJ's Wholesale ( BJ) is climbing on renewed takeover chatter. Shares of the company are growing 2.6% to $44.97 in the final minutes of trading. J.Crew ( JCG) is one of the day's biggest gainers, advancing 9.3% to $35.44, after being upgraded to outperform by an analyst. Cowen & Co. said shares of the company are attractively priced, falling 26% since its first-quarter earnings report. And with just over 300 full-line stores and factory outlets, its small brick-and-mortar base also means J.Crew has plenty of growth opportunities. Other notable gainers include J.C. Penney ( JCP), which is soaring 8% to $23.70, New York & Company ( NWY), which is spiking 8.2% to $2.26 and Crocs ( CROX), which is gaining 6.6% to $11.15. RadioShack ( RSH) is one of the few retailers in the red, as the potential for a buyout wanes. Reuters reported that two private-equity groups, Blackstone Group ( BX) and TPG Capital, are unlikely to unlikely to pursue a potential bid for the retailer, citing sources familiar with the matter. Shares of RadioShack are tumbling 6.8% to $20.01 in late-day trading. Amazon ( AMZN) is also slipping 0.2% to $119.66 ahead of its second-quarter earnings report due out tomorrow. -- Reported by Jeanine Poggi in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.