Last updated March 17, 2010: 4:15 PM ET --- The major U.S. equity indices closed higher Wednesday as investors continue to cheer over the Federal Reserve's decision to keep interest rates historically low. The Labor Department's Producer Price Index declined by 0.6% in February, the largest drop in seven months. Excluding food and energy costs, the index gained 0.1%. Fed Chairman Ben Bernanke testified today about efforts to reform banking regulation, telling Congress that the Fed's participation in the oversight of banks improves its ability to carry out monetary goals. In corporate news, Blockbuster (NYSE:BBI) shares fell 30% after the company said that it might file for bankruptcy protection as it struggles with debt. The Dow Jones Industrial Average (DJI) closed 0.45% higher at 10,733.67, the S&P500 (INX) closed 0.58% higher at 1,166.21, and the Nasdaq Composite (IXIC) closed 0.58% higher at 2,389.09.
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Ticker(s): BBI
