NATIONAL

Stocks climbed Thursday as strong April retail sales and a steep drop in oil prices alleviated investors’ worries about a greater-than-forecast jump in labor costs.

According to preliminary calculations, the Dow Jones industrial average gained 38.58, or 0.34 percent, to 11,438.86, its best close since reaching 11,489.59 on Jan. 19, 2000. The Standard & Poor’s 500 index rose 4.40, or 0.34 percent, to 1,312.25, and the Nasdaq composite index surged 19.93, or 0.87 percent, to 2,323.90.

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EMAK Worldwide Inc., which reported earnings Wednesday, dropped 10 percent to $6.71. True Religion Apparel Inc., which reported earnings Wednesday, fell 8 percent to $17.47. DaVita Inc., which reported earnings Wednesday, lost 6 percent to $50.95. DirecTV Group Inc., which reported earnings Thursday, fell 3 percent to $16.59. Entravision Communications Corp., which reported earnings Thursday, was off 1 percent to $8.59.

PeopleSupport Inc. soared 21 percent to $13.08. Herbalife Ltd., which reported earnings Wednesday, jumped 10.6 percent to $37.76. Peerless Systems Corp. rose 8 percent to $7.04.