U.S. stocks close higher amid earnings, data

NEW YORK, April 12 (Xinhua) -- U.S. stocks closed higher on Thursday as investors digested latest corporate earnings reports and major economic data.

The Dow Jones Industrial Average gained 293.60 points, or 1.21 percent, to 24,483.05. The S&P 500 rose 21.80 points, or 0.83 percent, to 2,663.99. The Nasdaq Composite Index was up 71.22 points, or 1.01 percent, to 7,140.25.

BlackRock, the world's largest asset manager, reported first-quarter earnings and revenue on Thursday that surpassed expectations.

It reported diluted earnings per share of 6.68 U.S. dollars in the first quarter and revenue of 3.58 billion dollars. Shares of BlackRock rose 1.47 percent to settle at 533.01 dollars apiece.

Delta Air Lines reported quarterly earnings that beat estimates, despite rising costs. The company's adjusted diluted earnings per share reached 0.74 dollar and its adjusted operating revenue hit 9.8 billion dollars, up 8 percent year on year. Shares of the airline rose 2.93 percent to settle at 52.98 dollars apiece.

Citigroup, J.P. Morgan Chase and Wells Fargo are among the companies scheduled to report Friday morning.

Investors have high expectations for this earnings season. First quarter earnings are expected to increase 18.4 percent, while excluding the energy sector, the earnings growth estimate declines to 16.7 percent, according to Thomson Reuters.

On the economic front, new applications for U.S. unemployment benefits fell last week, pointing to sustained labor market strength.

In the week ending April 7, the advance figure for seasonally adjusted initial claims was 233,000, a decrease of 9,000 from the previous week's unrevised level of 242,000. The four-week moving average was 230,000, an increase of 1,750 from the previous week's unrevised average of 228,250, the Labor Department reported Thursday. Enditem