Closing Bell: Microsoft Buys Game-Streaming Company; U.S. Stocks at Records

A massive rally in crude oil and better-than-expected quarterly performance out from the retail space helped to drive stocks to new highs. The S&P 500, Nasdaq and Dow Jones Industrial Average closed at new records. Fellow retailers also joined in on the rally. Target (TGT) - Get Report , TJX Companies (TJX) - Get Report , Dillard's (DDS) - Get Report , Nordstrom (JWN) - Get Report , J.C. Penney (JCP) - Get Report , and Sears (SHLD) were all higher. Nordstrom will report after the bell. Microsoft (MSFT) - Get Report rose after announcing a deal to purchase game-streaming service Beam for an undisclosed amount. Beam's live-streaming software will be incorporated into Microsoft's Xbox. The Seattle-based startup was launched earlier this year. Nomura raised its full-year earnings guidance for Cisco Systems (CSCO) - Get Report ahead of its earnings report out next week. The firm said Cisco is moving toward a steady, recurring revenue model, helped along by growth in software.