Indices ended with gains on Thursday. Bank of America, JPMorgan Chase and Exxon Mobil led the upswing. Brands stepped up amid a variety of economic data. The Labor Department said initial jobless claims declined by 7,000 to 395,000 last week. Meanwhile, crude oil added $2.83 to settle at $86.00 a barrel. Elsewhere, the Commerce Department said the trade gap expanded to $53.1 billion in June from a revised deficit of $50.08 billion in May. Economists had expected a contraction to $48 billion in June. Looking ahead, monthly retail sales and consumer sentiment details will be released tomorrow.
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