NEW YORK (AP) -- Stocks surged Thursday, carrying the Dow Jones industrials into record territory as investors gleaned positive consumer spending trends from retailers' June sales reports.

A new bid for aluminum maker Alcan Inc. added to the upbeat mood on Wall Street, which drove the Dow up more than 100 points to a new intraday high.

Though retail sales on the whole appeared to be crimped last month by higher gasoline prices and a tepid housing market, a few reports beat Street expectations -- notably that of Wal-Mart Stores Inc., the world's largest retailer, which posted a better-than-expected 2.4 percent jump in sales at stores open at least a year.

The 10-year Treasury note's yield fell to 5.08 percent, down from 5.09 percent late Wednesday, adding to stock investors' glee.

Light, sweet crude rose 90 cents to $73.46 per barrel on the New York Mercantile Exchange.

The Commerce Department reported Thursday that the international trade balance widened to $60.04 billion in May, as expected, from $58.5 billion in April.