The Producer Price Index for final demand advanced 0.4% in September, as prices for final demand services rose 0.4% and the index for final demand goods climbed 0.7%, the Bureau of Labor Statistics reported. The final demand index increased 2.6% for the 12 months ended in September.

In the week ending October 7, the advance figure for seasonally adjusted initial claims for unemployment insurance was 243,000, a decrease of 15,000 from the previous week’s revised level of 258,000, the Labor Department said. The four-week moving average was 257,500, a decrease of 9,500 from the previous week’s revised average of 267,000.

Thursday, the Dow closed 31.88 points (0.14%) lower at 22,841.01, the NASDAQ decreased 12.04 points (0.18%) to 6,591.51, and the S&P 500 was down 4.31 points (0.17%) at 2,550.93. The Russell 2000 decreased by 1.76 (0.12%) to 1,505.16, and the Wilshire 5000 lost 42.76 points (0.16%) to finish at 26,559.35.

ON THIS DATE: In 1775, the U.S. Continental Congress ordered the construction of a naval fleet. In 1792, the cornerstone of the Executive Mansion was laid in Washington, D.C. In 1854, the state of Texas ratified a state constitution. In 1951, in Atlanta, a football with a rubber covering was used for the first time. Georgia Tech beat Louisiana State 25-7. In 1953, an ultrasonic burglar alarm was patented by Samuel Bagno. In 1967, the first game of the new American Basketball Association was played. In 1998, the National Basketball Association (NBA) canceled regular season games, due to work stoppage, for first time in its 51-year history.