U.S. stocks close higher as Bullard backs 75 basis point hike in September

U.S. stocks closed modestly higher on Thursday as investors digested more economic data and commentary from senior Federal Reserve officials. The S&P 500 (S&P:SPX) gained 9.70 points, or 0.2%, to 4,283.74. The Nasdaq Composite (NASDAQ:COMP) is up 27.22 points, or 0.2%, to 12,965.34. The Dow advanced 27.22 points, or 0.2%, to 12,965.34. In terms of news, jobless claims data showed a modest decline in the number of Americans applying for benefits, while St. Louis Fed President James Bullard said Thursday he is leaning toward supporting a 0.75 percentage point rate hike at the Fed's September meeting.