Indices closed out in green territory on Thursday. Time Warner led gains by percentage on the S&P 500. Stocks climbed amid a variety of economic news. Initial jobless claims decreased last week. The Department of Labor said new claims declined by 9,000 to 346,000. Economists were expecting 345,000 new claims. Meanwhile, pending home sales increased in May. The National Association of Realtors Pending Home Sales Index rose by 6.7% to 112.3. Its highest level since late 2006, a 1% upswing was expected. On another note, the Department of Commerce said that personal income ramped up by a greater-than-expected 0.5% in May. A 0.2% gain was expected. Personal spending rose by 0.3%, which matched estimates. Elsewhere, crude oil futures tacked on $1.55 to settle at $97.05 a barrel.
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