Last updated March 18, 2010: 4:30 PM ET --- The major U.S. equity indices closed mixed Thursday following reports on inflation, jobless claims and leading indicators. The Labor Department said initial claims for jobless benefits fell by 5,000 to 457,000 last week. Economists had expected a drop of 7,000. U.S. consumer prices were flat in February compared with the previous month as higher car prices were offset by lower energy costs. The index of U.S. leading indicators rose 0.1% in February, which is the smallest gain in almost a year, pointing to a slower economic expansion in the second half of 2010. In corporate news, Palm (NASDAQ:PALM) reported a fiscal Q3 loss of $0.13 per share. Excluding the effect that a recent drop in Palm's stock price had on the stock, which caused a corresponding drop in the value of some preferred shares that count as derivatives on the balance sheet, the company lost $0.61 cents per share. The Dow Jones Industrial Average (DJI) closed 0.42% higher at 10,779.17, the S&P500 (INX) closed 0.03% lower at 1,165.82, and the Nasdaq Composite (IXIC) closed 0.09% higher at 2,391.28.
Keywords: Morning Call Economic News Stock Research
Ticker(s): PALM
