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Oil tops $51 a barrel as S&P inches toward record high

Oil leading the charge on Wall Street. Crude prices (CLN16.NYM) topped $51 a barrel ahead of more data on inventory levels, and all three major averages (^DJI^GSPC^IXIC) were solidly higher as the S&P 500 sits within striking distance of a record high.

Stocks to Watch

Lululemon (LULU) posted earnings per share miss for the first quarter due to rise in costs, while revenue topped estimates thanks to a 17% jump in sales. The company's outlook was also a bit mixed. It said it sees some weakness in the current quarter, but raised its outlook for the year. 

Dave & Buster's (PLAY) shares were sharply higher in early trading. The arcade-centric restaurant chain lifted its outlook for the year after it reported a beat on both its top and bottom lines in the first quarter as revenue jumped nearly 18% from a year earlier. 

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Yahoo (YHOO), our parent company, remains in focus. The company is looking to raise an additional $1 billion by selling its portfolio of about 3,000 patents, including its original search technology, according to the Wall Street Journal.

Amazon’s huge investment

Amazon (AMZN) CEO Jeff Bezos announced the company is investing an extra $3 billion in India, upping its commitment to over $5 billion in total. Bezos says that India is Amazon's fastest growing region and a hub for innovation. 

Hillary Clinton wins big

Hillary Clinton is claiming the title of presumptive nominee for the Democratic Party after the former Secretary of State won the California and New Jersey primaries. She spoke to supporters at the Brooklyn Navy Yard – thanking them for helping her reach a milestone – and to remember all the women that came before her. She then asked the crowd to unite against Donald Trump.

Ford and Fiat shift gears 

Ford (F) and Fiat Chrysler (FCAU) will cut down production on their compact cars. The two companies are cutting back on producing smaller cars in favor of more SUVs. Ford's compact cars sales are down 12% since the beginning of the year.