Red Results

Indices closed in the red zone today on Wall Street. Financial brands such as Goldman Sachs, JPMorgan Chase, Morgan Stanley and Citigroup traded lower. Light volume and high volatility was the name of the game Thursday. Stocks rebounded just slightly off session low levels. Meanwhile, the Labor Department said initial jobless claims fell by 5,000 to 388, 000 last week. The result marked a seven-month low. Elsewhere, crude oil shed $3.67 to settle at $98.93 a barrel. Gap offered up earnings details after the closing bell. The clothing retailer said third-quarter net income dipped to $193 million, or 38 cents a share, from $303 million, or 48 cents, a year earlier.

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