S&P 500 index modestly climbed on Thursday as the number for jobless claims fell to a record low since June 2008. US benchmark index gained 0.11% or 1.45 points and finished at 1,325.54. Retailer Gap advanced 10.7% after reporting a 6% increase in revenue at its Banana Republic stores. Abercrombie & Fitch Co. plunged 13.8% after the company said that higher cotton costs will lower its adjusted 4th quarter profit and revenue will be less than Wall Street had expected. Alpha Natural Resources jumped 7.6% on Xstrata and Glencore merger discussions.