Stocks close with modest gains Thursday

NEW YORK, Jan. 19 (UPI) -- Stocks closed higher in New York Thursday after the U.S. Bureau of Labor Statistics said the consumer price index was unchanged from November.

Prices on an annual basis have climbed 3 percent, the bureau said.

The Department of Commerce said housing starts dropped 4.1 percent in December from November. Permits issued, indicating construction activity one and two months down the road, dropped 0.1 percent, the department said.

In New York, 131-year old photography corporation Kodak secured funds to keep in business but filed for bankruptcy protection to restructure the operation, which has struggled as the focus of the industry has gone from film to microchip.

By close of trading on Wall Street, the Dow Jones industrial average added 45.03 points or 0.36 percent to 12,623.98. The Standard & Poor's 500 index added 6.46 points or 0.49 percent to 1,314.50. The Nasdaq composite index gained 18.62 points or 0.67 percent to 2,788.33.

On the New York Stock Exchange, 1,968 stocks advanced and 1,043 declined on a volume of 4.3 billion shares traded.

The 10-year benchmark treasury note rose 1/32 to yield 1.981 percent.

The euro rose to $1.2968 from Wednesday's $1.2864. Against the yen, the dollar rose to 77.10 yen from Wednesday's 76.83 yen.

In Tokyo, the Nikkei 225 index added 1.04 percent, 89.10, to 8,639.68.

In London, the FTSE 100 index added 0.68 percent, 38.78, to 5,741.15.