Indices closed well into positive territory Thursday. Bank of America, JPMorgan Chase, and General Electric led the Dow’s ascent. Brands traded up on a variety of economic news. The Labor Department said initial jobless claims fell 14,000 to 351,000 last week. Economists had anticipated 356,000 new claims. Meanwhile, crude oil shed 32 cents today to settle at $105.11 a barrel. On another note, the producer price index rose 0.4% in February, close to expectations for a 0.5% rise, following a 0.1% increase in the prior month. Discounting food and gas, the core reading edged up 0.2% as expected, after a 0.4% gain in January. Looking ahead to tomorrow, Apple is set to launch the new version of its iPad and monthly data on consumer prices is due for release.
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