Last updated March 11, 2010: 4:15 PM ET --- The major U.S. equity indices closed higher Thursday after positive weekly jobless claims data and despite rising concerns that China may raise interest rates to avoid inflation. The Chinese consumer price index, which tracks inflation at the retail level, rose 2.7%. If interest rates are raised it could slow one of the most rapidly growing economies. The Labor Department reported that the number of people applying for unemployment benefits fell by 6,000 last week, which is the second decline in a row. Initial claims fell to a seasonally adjusted 462,000 from a revised 468,000. In corporate news, Citigroup (NYSE:C) shares rose 5.1% after CEO Vikram Pandit told investors that the bank should be able to cover future credit losses in its consumer lending business. The Dow Jones Industrial Average (DJI) closed 0.42% higher at 10,611.84, the S&P500 (INX) closed 0.40% higher at 1,150.24, and the Nasdaq Composite (IXIC) closed 0.40% higher at 2,368.46.