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U.S. Stocks Surge Again on Trump's Win; Macy's Misses Earnings Estimates

U.S. stocks moved higher Thursday's as investors enjoyed a second day rally on the heels of Donald Trump's presidential election.
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U.S. stocks moved higher Thursday's as investors enjoyed a second day rally on the heels of Donald Trump's presidential election. Shares of European Banks including Deutsche Bank (DB) - Get Deutsche Bank AG Report and Credit Suisse (CS) - Get Credit Suisse Group American Depositary Shares Report  rose on hopes of less burdensome regulations under a Trump administration. Shares of Macy's (M) - Get Macy's, Inc. Report were in focus after reporting third quarter earnings of $0.17 a share, while analysts had expected $0.41. Revenue of $5.63 billion matched forecasts. The retailer raised its full year comparable store sales guidance, expecting a decrease between 2.5% and 3% for the year, compared to a previous forecast of a decline of 3% to 4%. ConocoPhillips (COP) - Get ConocoPhillips Report is shedding as much as $8 billion worth of natural gas assets in an effort to slash its budget for 2017. Shares moved higher on the news. The oil company also unveiled plans to buyback $3 billion worth of stock. TheStreet's Scott Gamm reports from Wall Street.

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