Macy's (M) stock is experiencing a significant surge, soaring by 7.13% in intraday trading on Wednesday. The department store chain's shares are outperforming the broader market, reflecting renewed investor confidence in the retail sector.

The impressive gain comes amid a broader recovery in the stock market, with retailers leading the charge. This upward trend suggests a potential shift in investor sentiment towards consumer discretionary stocks, possibly driven by improving economic outlook or positive retail sales expectations.

Other major retailers are also seeing substantial gains, underscoring the sector-wide rally. Best Buy is up 3.3%, Target has gained 2.7%, while American Eagle matches Macy's 6% jump. Additionally, Kohl's is surging 8%, Gap is adding 5.4%, and even apparel brands like Abercrombie & Fitch and Nike are up 2.7% and 1.6% respectively. This widespread uptick in retail stocks indicates a broader market optimism, particularly favoring consumer-oriented companies.